Kontoor Brands (KTB) to report earnings tomorrow: here is what to expect
Clothing company Kontoor Brands (NYSE:KTB) will be announcing earnings results this Thursday morning. Here’s what to expect.
Kontoor Brands met analysts’ revenue expectations last quarter, reporting revenues of $584.3 million, up 18.6% year on year. It was a mixed quarter for the company, with full-year EPS guidance topping analysts’ expectations but full-year revenue guidance slightly missing analysts’ expectations.
Is Kontoor Brands a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Kontoor Brands’s revenue to grow 3.8% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Kontoor Brands has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Kontoor Brands’s peers in the consumer discretionary - apparel and accessories segment, some have already reported their Q3 results, giving us a hint as to what we can expect. VF Corp delivered year-on-year revenue growth of 1.2%, beating analysts’ expectations by 1.1%, and Levi's reported revenues up 4.3%, in line with consensus estimates. VF Corp traded up 7.6% following the results while Levi's was down 2.4%.
Read our full analysis of VF Corp’s results here and Levi’s results here.
There has been positive sentiment among investors in the consumer discretionary - apparel and accessories segment, with share prices up 4.7% on average over the last month. Kontoor Brands is up 18% during the same time and is heading into earnings with an average analyst price target of $98.20 (compared to the current share price of $75.75).
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.