Hanesbrands Inc. Provides Earnings Guidance for the First Quarter Ending April 2, 2022 and for Fiscal Year Ending December 31, 2022
February 03, 2022 at 07:00 am EST
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Hanesbrands Inc. provided earnings guidance for the first quarter ending April 2, 2022 and for fiscal year ending December 31, 2022. For the first quarter, the company expected net sales from continuing operations of approximately $1.51 billion to $1.57 billion, which includes a projected headwind of approximately $35 million from changes in foreign currency exchange rates. At the midpoint, this represents approximately 2% growth over prior year on a reported basis and 4% growth on a constant currency basis. GAAP operating profit from continuing operations to range from approximately $120 million to $150 million. GAAP earnings per share from continuing operations to range from approximately $0.20 to $0.27.
For the year, the company expected net sales from continuing operations of approximately $7.0 billion to $7.15 billion, which includes a projected headwind of approximately $100 million from changes in foreign currency exchange rates. At the midpoint, this represents approximately 4% growth over prior year on a reported basis and 5.5% growth on a constant currency basis. GAAP operating profit from continuing operations to range from approximately $780 million to $850 million. GAAP earnings per share from continuing operations to range from approximately $1.50 to $1.67.
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.