secwatch.observer — SEC 8-K summary
======================================

Issuer:     Kontoor Brands, Inc. (KTB)
CIK:        0001760965
Form:       8-K
Filed at:   2024-02-28T23:59:59+00:00
Accession:  0001760965-24-000010
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kontoor Brands Q4 revenue down 8%, adj EPS $1.28; FY24 outlook adj EPS $4.65-$4.75, launches Project Jeanius
--------------------------------------------------------------------------------

- Q4 revenue $670M (-8% YoY); U.S. revenue $538M (-11%). Inventory down 16% to $500M.
- Q4 adj EPS $1.28 (incl $0.07 duty charge); excl duty adj EPS $1.35, up 54% YoY.
- FY23 adj EPS $4.26 (incl $0.19 duty); excl duty adj EPS $4.45. Cash from operations $357M.
- FY24 outlook: revenue $2.57-2.63B; adj gross margin 44.2-44.4%; adj EPS $4.65-$4.75 (4-7% growth excl duty).
- Board authorized $300M share repurchase; dividend $0.50/sh maintained. Project Jeanius targets $50-100M run-rate savings.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1760965/000176096524000010/0001760965-24-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1760965/000176096524000010/ktb-20240228.htm
  HTML page:      https://secwatch.observer/filing/0001760965-24-000010

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer