Stock down 13% in early trading after company’s 2024 revenue guidance falls short
- HanesBrands shares fall after weak 2024 revenue outlook and 4Q earnings miss
- Stock down 13% in early trading
- Company’s revenue guidance for fiscal 2024 below analyst projections
- Fourth-quarter earnings per share missed analyst expectations
- Revenue for the quarter below consensus estimate
Shares of HanesBrands fell after the company’s 2024 revenue outlook and fourth-quarter earnings missed analyst expectations. The stock was down about 13% in early trading and is now in negative territory year-to-date. HanesBrands is guiding for $5.35 billion to $5.47 billion in revenue for fiscal 2024, below current analyst projections. Fourth-quarter adjusted earnings of 3 cents per share also missed analyst projections. The company’s revenue for the quarter came in at $1.3 billion, below the consensus estimate.
Companies Public: HanesBrands (HBI)
Factuality Level: 8
Factuality Just: The article provides specific information about HanesBrands’ revenue outlook and fourth-quarter earnings, including the company’s guidance for fiscal 2024 and the actual figures for the fourth quarter. The information is sourced from FactSet, a reputable financial data provider. However, the article lacks additional context or analysis, and it does not provide any explanation for why the company’s earnings missed analyst expectations. Therefore, while the factual information is accurate, the article could benefit from more in-depth reporting.
Noise Level: 3
Noise Just: The article provides relevant information about HanesBrands’ drop in stock price and missed earnings. It includes specific figures and analyst projections to support its claims. However, it lacks in-depth analysis or insights into the long-term trends or consequences of these events.
Financial Relevance: No
Financial Markets Impacted: No
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Just: The article pertains to financial topics as it discusses HanesBrands’ revenue outlook and fourth-quarter earnings. However, there is no mention of an extreme event.
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