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WINSTON-SALEM, N.C. -On Thursday, HanesBrands (NYSE:HBI) reported fourth-quarter earnings that beat analyst expectations, but revenue fell short, sending shares down -3.91% in early trading.
The company also announced that CEO Steve Bratspies will step down by the end of 2025 or when a successor is appointed.
The apparel manufacturer posted adjusted earnings per share of $0.17, surpassing the analyst estimate of $0.14. However, revenue for the quarter came in at $888.47 million, missing the consensus estimate of $899.73 million.
HanesBrands provided guidance for the first quarter of 2025, projecting EPS of $0.02, below the consensus of $0.03. The company expects Q1 revenue of $750 million, also falling short of analysts’ expectations of $785.3 million.
For the full year 2025, HanesBrands forecasts EPS between $0.51 and $0.55, compared to the consensus of $0.52. The company anticipates revenue of $3.47-3.52 billion, below the analyst estimate of $3.633 billion.
"Having reached a positive and important inflection point in executing our strategy and looking ahead to the next leg of the Company’s journey, the Board, in concurrence with Steve, has decided that now is the right time to initiate a search for our next CEO," said Bill Simon, Chairman of the Board.
Bratspies, who has led HanesBrands for the past five years, commented, "HanesBrands today is a more consumer-centric global operating company better prepared and strategically positioned to leverage our brands, innovation, marketing, talent, and supply chain capabilities around the world."
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