secwatch.observer — SEC 8-K summary
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Issuer:     Hanesbrands Inc. (—)
CIK:        0001359841
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001359841-24-000020
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hanesbrands Q1 adj. op profit $84M beats high-end; reaffirms FY guidance
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- Net sales $1.16B, down 17% YoY (organic constant currency -15%); gross margin 39.9% +750bps YoY.
- GAAP operating profit $52M; adjusted operating profit $84M (+32% YoY) exceeded company's high-end guidance.
- Inventory reduced 28% YoY to $1.42B; operating cash flow $26M; leverage 5.0x net debt/adj. EBITDA (down from 5.4x).
- Q2 guidance: net sales $1.335B-$1.375B, adj. EPS $0.07-$0.11. FY 2024 reaffirmed: adj. EPS $0.42-$0.48, >$300M debt paydown.
- U.S. Innerwear gained 50bps market share; Global Champion sales down 26% (25% constant currency), in line with outlook.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1359841/000135984124000020/0001359841-24-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1359841/000135984124000020/hbi-20240509.htm
  HTML page:      https://secwatch.observer/filing/0001359841-24-000020

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