Shares of Hanesbrands Inc. (NYSE:HBI) ended Monday session in green amid volatile trading. The shares closed up +0.78 points or 3.04% at $26.48 with 377.80 million shares getting traded. Post opening the session at $25.56 the shares hit an intraday low of $25.54 and an intraday high of $26.53 and the price vacillated in this range throughout the day. The company has a market cap of $9.90 billion and the numbers of outstanding shares have been calculated to be 377.80 million shares.
Hanesbrands Inc. (HBI) on August 3, 2016 announced second-quarter financial results and reaffirmed its full-year 2016 financial guidance for net sales, net cash from operations, and other key performance metrics.
Consistent with the company’s expectations, net sales decreased 3 percent to $1.47 billion for the quarter ended July 2, 2016, as a result of comparisons with strong performance in the year-ago quarter that included expanded shelf space for product launches.
On a GAAP basis, operating profit of $221 million increased 59 percent and earnings per diluted share of $0.34 increased 48 percent. When excluding pretax charges related to acquisitions, integrations and other actions, and debt refinancing, adjusted operating profit of $246 million decreased 7 percent, and adjusted EPS of $0.51 increased 2 percent.
The second-quarter and year-to-date results are in line with the company’s plans and consistent with the underlying assumptions for the company’s full-year 2016 guidance. The company has updated 2016 GAAP guidance for operating profit and EPS and has reaffirmed 2016 guidance for net sales, adjusted operating profit, adjusted EPS, and net cash from operations. The company’s 2016 guidance calls for net sales of $6.15 billion to $6.25 billion, GAAP operating profit of $760 million to $795 million, adjusted operating profit of $940 million to $975 million, GAAP EPS of $1.44 to $1.54, adjusted EPS of $1.89 to $1.95, and net cash from operations of $750 million to $850 million.
“We are confident in our plans for the year, with our sales, operating profit and EPS performance all tracking right in line with our expectations and consistent with our full-year guidance,” said Hanes Chief Operating Officer and CEO-Elect Gerald W. Evans Jr. “The second quarter, while having a tough comparison as expected to a strong year-ago quarter, came in on plan overall. Our growth initiatives for the second half are unfolding as planned and are tracking to our full-year guidance of 8 percent growth in net sales at the midpoint and double-digit growth in EPS.”
Shares of PepsiCo, Inc. (NYSE:PEP) ended Monday session in green amid volatile trading. The shares closed up +1.97 points or 1.89% at $106.02 with 1.44 billion shares getting traded. Post opening the session at $104.30 the shares hit an intraday low of $104.30 and an intraday high of $106.22 and the price vacillated in this range throughout the day. The company has a market cap of $148.54 billion and the numbers of outstanding shares have been calculated to be 1.44 billion shares.
PepsiCo, Inc. (PEP) on Aug. 29, 2016 announced continued progress against the company’s strategy to help protect and conserve global water supplies and provide people access to clean, safe water to communities around the world.
In 2015, PepsiCo reduced its operational water use per unit of production by 26 percent versus a 2006 baseline. This exceeded the company’s previously stated goal to reduce operational water use by 20 percent by the end of 2015.
PepsiCo’s water conservation efforts saved the company more than $80 million between 2011-2015. This is part of PepsiCo’s broader environmental sustainability agenda, which has delivered more than $600 million in cost savings over the past five years through the continued progress of the company’s water, energy, packaging and waste-reduction initiatives.
PepsiCo also continues to expand its efforts to provide access to safe water in water-stressed communities around the world. Through the PepsiCo Foundation, the company has partnered with leading non-profit organizations to now reach 9 million people with safe water access since 2006, far exceeding its original goal of 6 million by the end of 2015.
“Access to safe water is an essential building block for improved social, economic and health conditions in communities around the world,” said Dr. Mehmood Khan, PepsiCo Vice Chairman and Chief Scientific Officer, Global Research and Development. “Companies have an important role to play in solving global water challenges, and we must continuously seek new ways to apply our unique capabilities and expertise to conserve this most precious resource.
“All across PepsiCo, we continue to find innovative new ways to grow our business while using fewer natural resources—water among them,” Khan continued. “By driving down our operational water use and replenishing water within the local watershed, promoting innovative agricultural practices that yield more crop per drop, and enabling access to safe water and sanitation for millions of people, we have achieved important progress and are committed to doing much more in the years ahead.”