HanesBrands, Winston-Salem, N.C., recently announced its fourth-quarter results and full-year 2019 earnings per share growth.
In 2019, the company generated $803 million of net cash from operations surpassing the high end of its guidance for operating cash flow expectations of $700 million-$800 million. The company significantly reduced its debt leverage by paying down $609 million of debt in 2019.
The fourth quarter ended Dec. 28, with the net sales of $1.75 billion, decreasing 1%, while constant-currency organic sales slightly increased. For the full year, net sales increased 2% to $6.97 billion and represented the second consecutive year of constant-currency organic sales growth.
Fourth-quarter GAAP EPS and adjusted EPS excluding actions were each $0.51, increases of 24% and 13%, respectively. For the full year, GAAP EPS increased 11% to $1.64 and adjusted EPS excluding actions increased 5%, to $1.76.
“HanesBrands delivered a solid fourth quarter right in line with our guidance and concluded a very successful year with record operating cash flow, significantly reduced debt, continued organic revenue growth and strong underlying business fundamentals,” says Gerald W. Evans Jr., Hanes CEO. “Looking forward, we expect to create meaningful shareholder value using our strong balance sheet, stabilized Innerwear profitability, and Champion, International and consumer-directed growth. We view 2020 to be an inflection point for sales, profit and EPS growth rates that accelerate down the P&L.” — D.S.
