Kontoor Brands (KTB) shares jumped 15% in recent Thursday trading after it reported higher Q3 adjusted earnings and revenue, which also exceeded expectations, and raised its full-year adjusted earnings guidance.
The apparel company earlier posted Q3 adjusted earnings of $1.37 per diluted share, up from $1.22 a year earlier.
Analysts polled by Capital IQ expected $1.26.
Revenue for the quarter ended Sept. 28 was $670.2 million, up from $654.5 million a year earlier.
Analysts surveyed by Capital IQ expected $663.5 million.
Kontoor said it expects Q4 adjusted EPS of $1.31. Analysts polled by Capital IQ expect $1.40. The company expects revenue for the quarter of roughly $695 million. Analysts polled by Capital IQ expect $709.8 million.
Kontoor said it now expects 2024 adjusted EPS of $4.83, up from its prior guidance of about $4.80. Analysts polled by Capital IQ expect $4.77.
Revenue for the year is now projected to be $2.60 billion, compared with its prior range of $2.57 billion to $2.63 billion. Analysts surveyed by Capital IQ expect $2.61 billion.
Price: 88.05, Change: +11.49, Percent Change: +15.00
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