Kontoor Brands reports Q3 adjusted EPS $1.44, consensus $1.40

Reports Q3 revenue $853M, consensus $871.83M. “Our third quarter results exceeded expectations driven by the strength of our expanded brand portfolio, gross margin expansion, and operational execution,” said Scott Baxter, President, Chief Executive Officer and Chairman of the Board of Directors. “While a shift in the timing of shipments impacted revenue growth, Wrangler drove another quarter of broad-based growth and market share gains, Helly Hansen delivered better than expected revenue and profitability, and we launched Lee’s first equity campaign in years while improving the health of the marketplace. Based on our stronger year-to-date performance and increased visibility, we are raising our full year outlook and are well positioned to finish a record year with momentum.”