Hanesbrands Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 07:02 am EST
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Hanesbrands Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 1,511.31 million compared to USD 1,670.74 million a year ago. Net loss was USD 38.8 million compared to net income of USD 80.1 million a year ago. Basic loss per share from continuing operations was USD 0.11 compared to basic earnings per share from continuing operations of USD 0.23 a year ago. Diluted loss per share from continuing operations was USD 0.11 compared to diluted earnings per share from continuing operations of USD 0.23 a year ago. Basic loss per share was USD 0.11 compared to basic earnings per share of USD 0.23 a year ago. Diluted loss per share was USD 0.11 compared to diluted earnings per share of USD 0.23 a year ago.
For the nine months, sales was USD 4,339.7 million compared to USD 4,760.36 million a year ago. Net loss was USD 95.67 million compared to net income of USD 290.9 million a year ago. Basic loss per share from continuing operations was USD 0.27 compared to basic earnings per share from continuing operations of USD 0.82 a year ago. Diluted loss per share from continuing operations was USD 0.27 compared to diluted earnings per share from continuing operations of USD 0.82 a year ago. Basic loss per share was USD 0.27 compared to basic earnings per share of USD 0.83 a year ago. Diluted loss per share was USD 0.27 compared to diluted earnings per share of USD 0.83 a year ago.
Hanesbrands Inc. designs, manufactures, sources, and sells a range of innerwear apparel, such as t-shirts, bras, panties, shapewear, underwear, and socks, as well as activewear products. It offers everyday apparel in the Americas, Australia, Europe, and Asia under apparel brands, including Hanes, Champion, Bonds, Bali, Maidenform, Bras N Things, Playtex, Wonderbra, Gear for Sports, Berlei, Comfortwash, Alternative and JMS/Just My Size. Its segments include Innerwear, Activewear, and International. Its Innerwear segment includes core apparel products, such as menâs underwear, womenâs panties, childrenâs underwear, socks, and intimate apparel which includes bras and shapewear. Its Activewear segment includes activewear products, such as T-shirts, fleece, performance apparel, sport shirts and thermals. It also sells licensed logo apparel primarily in the mass retail channel and in collegiate bookstores. Its International segment includes innerwear, activewear and home goods products.