Kontoor Brands Q1 adj EPS $1.06 from continuing ops, raises FY outlook, plans Lee divestiture, authorizes $750M buyback

Kontoor Brands, Inc.

Q1 revenue $613M from cont. ops (+45% incl. Helly Hansen); Wrangler +4%, Helly Hansen +16% pro-forma.
Adj EPS from cont. ops $1.06; total reported EPS $1.65 incl. discontinued Lee.
Plan to divest Lee brand; process advanced, multiple parties, expects 2026 deal. Lee revenue ~$750M in FY.
FY2026 adj EPS guide raised to $6.60-$6.70 (incl. Lee) vs prior $6.40-$6.50; cont. ops $5.15-$5.25.
Board approved new $750M share buyback program, replacing prior authorization.

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