Kontoor Brands Non-GAAP EPS of $1.37, revenue of $670M

seekingalpha
2024-10-31
  • Kontoor Brands press release (NYSE:KTB): Q3 Non-GAAP EPS of $1.37.
  • Revenue of $670M.
  • Updated Full Year 2024 Financial Outlook

    • Revenue is now expected to be $2.60 billion ($2.57 to $2.63 billion prior outlook)
    • Adjusted gross margin is now expected to be 45.1 percent (44.8 percent prior outlook), representing an increase of 260 basis points compared to the prior year on an adjusted basis, excluding the out-of-period duty charge in that period
    • Adjusted operating income is expected to be $385 million (higher end of $377 to $387 million prior outlook), representing an increase of 11 percent (10 to 11 percent prior outlook) compared to the prior year on an adjusted basis, excluding the out-of-period duty charge in that period. Adjusted operating income includes a $6 million impact from supply chain and inventory management actions compared to the prior outlook
    • Adjusted EPS is now expected to be $4.83 (approximately $4.80 prior outlook),

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