HanesBrands (HBI) Misses Q1 EPS by 9c
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HanesBrands Reports First-Quarter 2020 Financial Results
April 30, 2020 6:30 AM EDTStrong revenue and profit trends disrupted by late-quarter effects of COVID-19
Employees rise to meet challenges, including continuing to serve open channels of trade and pivoting to manufacture much-needed face coverings
1Q results include net sales of $1.32 billion; GAAP and adjusted operating profit of $34 million and $63 million, respectively; and GAAP and adjusted EPS of $(0.02) and $0.05, respectively
COVID-19 estimated to have reduced GAAP and adjusted results by $181 million in net sales, $86 million in operating profit, and $0.20 in EPS
Despite pandemic, operating cash flow improved by more than $100 million
Actions taken to assure cash preservation and... More
