Hanesbrands Inc

HBI: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$17.20	Qtwpwn	Qdcqjps

Hanesbrands Earnings: Financial Health Improving Despite Dismal Sales; Shares Very Undervalued

David Swartz

Feb 15, 2024

Momentum remains elusive for narrow-moat Hanesbrands, which missed our fourth-quarter forecast and issued disappointing 2024 guidance. Shares fell about 12% on the report, and we expect to reduce our $18.80 fair value estimate by a high-single-digit percentage. Even so, we believe the company is making progress on its key initiatives, including product enhancements and reductions in debt, inventory, and costs, and rate shares as very undervalued.

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