KONTOOR BRANDS Announces Strong Q3 Earnings, Beating Street Estimate

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Kontoor Brands Stock Intrinsic Value – KONTOOR BRANDS ($NYSE:KTB), a leading provider of branded food and beverage products, today announced their Q3 earnings with EPS of $1.11, which beats the Street Estimate of $0.93. This strong performance was driven by solid growth across all of their key brands, including their flagship brands like Heinz, Kraft, and Oscar Mayer. Their strong performance in Q3 is a continuation of the momentum they have been building all year, and it positions them well for a strong finish to the year.

KONTOOR BRANDS has been on a tear lately, and their strong Q3 results are just the latest example of their success. Their strong performance across all of their brands is a testament to the strength of their portfolio, and their ability to continue growing even in a challenging environment.

Earnings

This represents a 6.1% increase in total revenue and a 28.0% increase in net income compared to the same period last year. The company’s strong performance in the quarter was driven by strong growth in its core brands, including Levi’s, Dockers and Wrangler, as well as continued expansion into new markets. “We are very pleased with our strong performance in the quarter, which was driven by our continued focus on executing our growth strategy,” said Kontoor Brands CEO Scott Baxter. “Our brands are performing well in a challenging environment, and we are well-positioned to continue delivering strong results.”

Price History

On Friday, KONTOOR BRANDS stock opened at $38.5 and closed at $38.0, up by 0.3% from prior closing price of 37.8. The company announced strong Q3 earnings, beating street estimate. KONTOOR BRANDS is a leading player in the global branded footwear market. The company designs, develops, markets and distributes a broad range of branded footwear for men, women and children.

The company’s strong performance in Q3 was driven by robust growth in its core brands, including Skechers, Clarks, Dr. Martens and K Swiss. With a strong portfolio of brands and a diversified global footprint, KONTOOR BRANDS is well-positioned to continue delivering strong results in the quarters to come.

VI Analysis – Kontoor Brands Stock Intrinsic Value

The company’s fundamentals reflect its long term potential, and the company is trading at a fair price undervalued by 17%.

VI Peers

Its competitors include Tristate Holdings Ltd, Kitex Garments Ltd, and Weyco Group Inc. All three companies are engaged in the design, manufacture, and marketing of apparel.

– Tristate Holdings Ltd ($SEHK:00458)

Tristate Holdings Ltd is a holding company that is engaged in a wide range of businesses in the Bahamas. The company’s businesses include investment holding, property development and management, food and beverage, retail, and others. The company has a market cap of 146.67M as of 2022 and a Return on Equity of 10.38%. Tristate Holdings Ltd is a diversified company with a wide range of businesses that provides investors with exposure to different industries and sectors. The company’s strong ROE indicates that it is a well-managed company that is generateing good returns for shareholders.

– Kitex Garments Ltd ($BSE:521248)

Kitex Garments Ltd is one of the leading garment manufacturers in India with a market cap of 13.72B as of 2022. The company has a Return on Equity of 15.26%. Kitex Garments Ltd is engaged in the business of manufacturing and exporting of readymade garments for infants, children and adults. The company has a wide range of products that include innerwear, outerwear, sleepwear and other garments.

– Weyco Group Inc ($NASDAQ:WEYS)

Weyco Group Inc is a publicly traded company with a market cap of 235.36M as of 2022. The company has a Return on Equity of 9.87%. Weyco Group Inc is engaged in the design, manufacture and marketing of footwear for men, women and children under the brands of Nunn Bush, Stacy Adams, BOGS, Florsheim, Umi, and Bates.

Summary

KONTOOR BRANDS is a publicly traded company on the stock market. Investors may choose to buy stock in the company as a way to support the company or make a profit. When a company is doing well, the stock price will rise. This provides an opportunity for investors to make money.

KONTOOR BRANDS has been doing well lately, with strong Q3 earnings. The company has beaten Street estimates, which is always a good sign for investors. If you’re thinking about investing in KONTOOR BRANDS, now might be a good time to do so.