Kontoor Brands Inc. (KTB) Tops Q3 EPS by 75c, Revenues Beat; Offers FY20 EPS Guidance Above Consensus
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Kontoor Brands Reports Third Quarter 2020 Results; Reinstates a Quarterly Dividend and Provides FY'20 Outlook
October 29, 2020 6:50 AM EDTQ3 Reported Revenue of $583 million declined 9 percent compared with the prior year Q3 Reported EPS of $1.05; Adjusted EPS of $1.33 increased 40 percent compared with the prior year Q3 Reported Gross Margin increased 410 bps to 44.2 percent compared with the prior year; Adjusted Gross Margin increased 240 bps to 43.3 percent Strong cash generation supported additional discretionary debt repayments totaling $100 million in the third quarter, achieving lowest net debt level since spin-off in May 2019 The Companys Board of Directors declared a quarterly cash dividend of $0.40 per share payable in December... More
