Kontoor Brands Inc. (KTB) Misses Q1 EPS by 5c; offers guidance

Kontoor Brands Inc. (NYSE: KTB) reported Q1 EPS of $1.16, $0.05 worse than the analyst estimate of $1.21. Revenue for the quarter came in at $667 million versus the consensus estimate of $673.23 million.

GUIDANCE:

Kontoor Brands Inc. sees FY2023 EPS of $4.55-$4.75.

FY’23 revenue is expected to increase at a low-single digit percentage compared to FY’22, consistent with prior outlook
FY’23 gross margin is expected to be in the range of 43.5 percent to 44.0 percent, consistent with prior outlook
FY’23 EPS is expected to be in the range of $4.55 to $4.75, consistent with prior outlook
Inventory growth is anticipated to be in line with revenue growth by quarter-end Q3\'23

For earnings history and earnings-related data on Kontoor Brands Inc. (KTB) click here.

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