Hanesbrands Shares Rise On In-line Results, Revenue Outlook
Hanesbrands Inc. shares rose in the extended session Tuesday after the apparel maker reported in-line quarterly results and forecast revenue for the year above Wall Street estimates. Hanesbrands shares gained 4.2% to $24 after hours. The company reported second-quarter net income of $172.5 million, or 47 cents a share, compared with $128.1 million, or 34 cents a share, in the year-ago period. Adjusted earnings were 53 cents a share. Revenue rose to $1.65 billion from $1.47 billion in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 53 cents a share on revenue of $1.65 billion. For the year, Hanesbrands estimates adjusted earnings of $1.93 to $2.03 a share on revenue of $6.45 billion to $6.55 billion. Analysts expect $1.97 a share on $6.44 billion.
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