Kontoor Brands Reports 2024 First Quarter Results; Raises Full Year Outlook
Kontoor Brands, Inc. (KTB)
Last kontoor brands, inc. earnings: 3/5 06:50 am
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Source: Business Wire
First Quarter 2024 HighlightsRevenue of $631 million decreased 5 percent compared to prior yearReported gross margin was 45.2 percent. Adjusted gross margin was 45.7 percent and increased 270 basis points compared to prior yearReported EPS was $1.05. Adjusted EPS of $1.16 was consistent with prior yearInventory decreased 24 percent compared to prior yearThe Company repurchased $20 million of sharesThe Company’s Board of Directors declared a regular quarterly cash dividend of $0.50 per shareUpdated Full Year 2024 Financial OutlookRevenue is expected to be in the range of $2.57 to $2.63 billion, representing a decrease of 1 percent to an increase of 1 percent, consistent with the prior outlookAdjusted gross margin is now expected to approximate 44.6 percent (44.2 to 44.4 percent prior), representing an increase of 210 basis points compared to the prior year on an adjusted basis, excluding the out-of-period duty chargeAdjusted operating income is now expected to be in the range of $377 t
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- Kontoor Brands, Inc. (NYSE:KTB) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
KTB
Earnings
- 5/2/24 - Beat
KTB
Sec Filings
- 5/2/24 - Form 10-Q
- 5/2/24 - Form 8-K
- 4/19/24 - Form 8-K
- KTB's page on the SEC website