Kontoor Brands Announces Second Quarter 2019 Results
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Kontoor Brands Inc. (KTB) Tops Q2 EPS by 29c, Revenues Beat; Offers FY19 Revenues Guidance Below Consenseus
August 8, 2019 5:48 PM EDTKontoor Brands Inc. (NYSE: KTB) reported Q2 EPS of $0.96, $0.29 better than the analyst estimate of $0.67. Revenue for the quarter came in at $610 million versus the consensus estimate of $591.18 million.
Revenue decreased 8 percent to $610 million on a reported basis in the second quarter of 2019 and was down 7 percent in constant currency. On an adjusted basis, revenue declined 6 percent to $602 million.
Adjusted revenue declines, during the quarter, were primarily driven by three factors:
Impacts of a major U.S. retailer bankruptcy in Q4 2018, which represented about 2 points of the... More