HANESBRANDS INC Reports Q2 FY2023 Results on August 10th
October 21, 2023
🌥️Earnings Overview
HANESBRANDS INC ($NYSE:HBI) reported its financial results for the second quarter of fiscal year 2023 on August 10 2023. Total revenue for the quarter ending June 30 2023 was USD 1439.0 million, a year-on-year decrease of 4.9%. The company posted a net loss of USD 22.5 million, compared to a net income of USD 92.1 million in the same period of the previous year.
Price History
On Thursday, August 10th, HANESBRANDS INC reported their financial results for the second quarter of Fiscal Year 2023. The company’s stock opened at $4.9 and closed at $5.3, down by 1.1% from their previous closing price of 5.3. The company reported an overall increase in sales compared to the same quarter last year. On a regional basis, HANESBRANDS INC experienced strong sales growth in Asia-Pacific and Latin America and saw a more moderate sales growth in North America and Europe.
HANESBRANDS INC also announced that they will be continuing to invest in product innovation and digital capabilities in order to further expand their reach and increase customer loyalty. With their strong financials, the company is well positioned to continue driving sales growth and profits for the remainder of FY2023. 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’re committed to helping our users make better investments. That’s why we provide comprehensive financial analysis of companies like HANESBRANDS INC. After taking a deep dive into their financials, our Risk Rating system has classified it as a medium risk investment. We have also detected two risk warnings in the income sheet and balance sheet that could help you make a more informed investment decision. To access these insights, simply become a registered user and start exploring HANESBRANDS INC with GoodWhale. 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 recently reported their results for the second quarter of FY2023, which ended June 30, 2023. This is an alarming decrease in earnings for investors and could be a sign of a potential downturn in the company’s performance. Investors should thoroughly review the company’s financials to determine whether the current situation is a short term issue or if the company’s prospects have indeed deteriorated.
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