HanesBrands Announces Fourth-Quarter and Full-Year 2023 Results
Hanesbrands Inc. (HBI)
Last hanesbrands inc. earnings: 4/30 06:30 am
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US:NYSE Investor Relations:
ir.hanesbrands.com
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Source: Business Wire
Exceeds year-end goals with respect to its four key 2023 performance metrics, despite a challenging sales environment. Sees positive inflection with respect to margins and leverage.Fourth quarter gross margin of 38.1% increased 400 basis points compared to prior year. Adjusted gross margin of 38.2% increased approximately 395 basis points over prior year, ahead of expectations.Unlocked tied-up working capital, ending the year with inventory below $1.4 billion, ahead of expectations. For full-year 2023, inventory improved 31% year-over-year, or $612 million.Generated $562 million of cash flow from operations, ahead of expectations.With stronger-than-expected operating cash flow, the Company accelerated debt paydown to more than $500 million in 2023, ahead of expectations.Year-end leverage of 5.2 times net debt-to-adjusted EBITDA was 0.4 times lower than its peak in second-quarter 2023. Company ended 2023 with more than $1.3 billion of liquidity.Company reported fourth-quarter 2023 sale
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HBI
News
- Decorated Apparel Market Size is expected to reach USD 70.4 billion by 2031, growing at a CAGR of 11.4%: Straits Research [Yahoo! Finance]Yahoo! Finance
- HanesBrands Announces Substantial Progress Toward Reaching Sustainability Goals Around People, Planet and ProductBusiness Wire
- Compression Stockings Market To Reach USD 3.9 Billion By 2032, Says DataHorizzon Research [Yahoo! Finance]Yahoo! Finance
- Hanesbrands Inc.'s (NYSE:HBI) latest 8.4% decline adds to one-year losses, institutional investors may consider drastic measures [Yahoo! Finance]Yahoo! Finance
- Sephora appoints Xia Ding as Managing Director of Sephora Greater China [Yahoo! Finance]Yahoo! Finance
HBI
Earnings
- 2/15/24 - Miss
HBI
Sec Filings
- 4/26/24 - Form 8-K
- 3/28/24 - Form 4
- 3/28/24 - Form 4
- HBI's page on the SEC website