Kontoor Brands Q4 Earnings Beat Estimates, But Stock Down In Pre-market

Kontoor Brands

61.18 CHF -3.03%

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(RTTNews) - Kontoor Brands, Inc. (KTB), a lifestyle apparel company, Tuesday reported net income of $63.98 million or $1.14 per share for the fourth quarter, lower than $68.77 million or $1.21 per share in the same quarter a year ago, primarily impacted by increase in income taxes. Earnings as well as revenue beat estimates.

However, Kontoor Brands provided fiscal 2025 earnings outlook below the consensus estimates. Its shares were more than 4 percent down in pre-market.

Income taxes were $11.54 million for the latest quarter compared with a tax benefit of $3.24 million a year earlier.

Excluding one-time items, adjusted earnings per share rose to $1.38 from $1.28 in the prior year. On average, 6 analysts were expecting earnings of $1.35 per share. Analysts' estimates typically exclude special items.

Operating income increased 12 percent to $84.29 million from $75.44 million last year.

Revenue for the quarter grew 4 percent to $699.28 million from $669.80 million in the previous year. The Street was looking for $698.07 million.

For the full year, the company expects revenue to be in the range of $2.63 billion to $2.69 billion. Adjusted EPS is expected to be between $5.20 and $5.30. Analysts expect the company to report earnings of $5.37 per share on revenue of $2.68 billion.

Kontoor Brands stock had closed at $86.17, down 2 percent on Monday. It has traded in the range of $52.95 - $96.80 in the last 1 year.