HANESBRANDS INC Reports Earnings for Q2 FY2023
August 24, 2023
🌥️Earnings Overview
HANESBRANDS ($NYSE:HBI): On August 10 2023, HanesBrands Inc reported its earnings results for the second quarter of FY2023, which ended on June 30 2023. Revenue for the quarter totaled USD 1439.0 million, representing a decrease of 4.9% compared to the same period in 2022. Net income for the quarter was USD -22.5 million, reflecting a decrease of 92.1 million from the prior year’s quarter.
Price History
On Thursday, HANESBRANDS INC reported its earnings for the second quarter of fiscal year 2023. The stock opened at $4.9 and closed at $5.3, down by 1.1% from previous closing price of 5.3. The company has been expanding its product portfolio by launching innovative products, such as Hanes Premium underwear, which is made from recycled materials.
Additionally, the company has been focusing on cost control measures to reduce its overhead expenses and increase profitability. This strategy has enabled the company to post strong growth in its earnings for the second quarter. Overall, Hanesbrands Inc has posted positive results in its earnings report for the second quarter of fiscal year 2023. The company is well-positioned to capitalise on future growth opportunities with its cost-control initiatives and innovative product offerings. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Hanesbrands Inc. More…
| Total Revenues | Net Income | Net Margin |
| 5.97k | -394.88 | -6.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Hanesbrands Inc. More…
| Operations | Investing | Financing |
| 214.5 | -84.59 | -183.64 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Hanesbrands Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.28k | 5.93k | 0.99 |
Key Ratios Snapshot
Some of the financial key ratios for Hanesbrands Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -3.6% | -25.2% | 5.0% |
| FCF Margin | ROE | ROA |
| 1.8% | 54.5% | 3.0% |
Analysis
At GoodWhale, we have conducted an in-depth analysis of HANESBRANDS INC‘s financials. After careful evaluation of the company’s financial and business aspects, our Risk Rating system has determined that HANESBRANDS INC is a medium risk investment. We have further detected two risk warnings in the income sheet and balance sheet of HANESBRANDS INC. If you’re interested in learning more about these warnings, please become a registered user of GoodWhale to access this information. More…
Peers
Hanesbrands Inc is an American clothing company with a range of clothing products including underwear, socks, and t-shirts. The company has a range of competitors including VF Corp, Hennes & Mauritz AB, and Ralph Lauren Corp.
– VF Corp ($NYSE:VFC)
VF Corporation is an American multinational clothing and footwear company founded in 1899 and headquartered in Greensboro, North Carolina. The company’s more than 30 brands include Vans, The North Face, Timberland, and Wrangler. VF is the world’s largest apparel company and one of the largest publicly traded companies in the United States with a market capitalization of over $10 billion. The company’s return on equity is 22.53%.
VF Corporation is a diversified apparel and footwear company with a portfolio of well-known brands including Vans, The North Face, Timberland, and Wrangler. The company operates in more than 170 countries and employs over 70,000 people worldwide. VF is committed to responsible business practices and is a signatory of the United Nations Global Compact.
– Hennes & Mauritz AB ($OTCPK:HNNMY)
H&M is a leading global fashion company with around 52,000 employees. The company’s business concept is to offer fashion and quality at the best price in a sustainable way. H&M has been listed on Nasdaq Stockholm since 1974.
– Ralph Lauren Corp ($NYSE:RL)
Ralph Lauren Corp is a company that focuses on the design and production of high-quality clothing and accessories. The company has a market cap of 6.28B as of 2022 and a return on equity of 19.37%. This makes it a very attractive investment for those looking for a company with a strong financial position and a history of success.
Summary
Hanesbrands Inc. reported their earnings results for the second quarter of FY2023 and showed a decrease in total revenue of 4.9%. Net income was USD -22.5 million, a decline of 92.1 million from the same quarter in 2023. Investing analysis would consider this decrease in revenues and profitability as a sign of potential risk in the short-term. However, other factors such as long-term trends, competitive landscape, and macroeconomic environment should also be taken into account when determining the potential returns from investing in Hanesbrands Inc. Investors should also consider the strength of the company’s management team, financial health, and long-term strategies when making their decisions.
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