HanesBrands (NYSE:HBI) is up 8.27% premarket after posting a massive Q2 revenue beat of $570M on revenue of $1.74B.
Sale of face masks and medical gowns contributed $752M in the revenue during the quarter, establishing a new protective garments business line. Online channel posted 68% sales growth.
Adj Net income increased 41% to $305M or $0.60 per share; net cash from operations of $65M; year-to-date operating cash flow $40M better than a year ago
2020 Guidance: The company expects to sell over $150M of protective garments in 2H20, excluding potential for additional government contracts. Further expects to generate positive cash flow in H2.
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