secwatch.observer — SEC 8-K summary
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Issuer:     Kontoor Brands, Inc. (KTB)
CIK:        0001760965
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001760965-23-000034
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kontoor Q3 rev $655M (+8% YoY); adj. EPS $1.22 ex-duty; FY adj. EPS outlook cut to $4.35
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- Q3 revenue $655M (+8% YoY); reported EPS $1.05 includes $0.17 prior-period duty charge; ex-duty EPS $1.22.
- Gross margin 41.5% (-200 bps) includes 200 bps duty charge; inventory $605M down 11% YoY.
- Board declared quarterly dividend $0.50/share, a 4% increase from prior quarter.
- FY2023 outlook cut: adj. gross margin ~42.5% (prior 43.5-44.0%), adj. EPS ~$4.35 (prior $4.55-4.75), includes $0.15 duty charge.
- FY cash from ops ~$335M; year-end inventory expected ~$500M, >15% decline vs FY22.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1760965/000176096523000034/0001760965-23-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1760965/000176096523000034/ktb-20231102.htm
  HTML page:      https://secwatch.observer/filing/0001760965-23-000034

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