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HanesBrands (HBI) investor relations material
HanesBrands Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Net sales for Q3 2025 were $892 million, down 1% year-over-year, with organic constant currency sales down 4.9%, primarily due to late-quarter order shifts and macroeconomic pressures.
Operating profit increased 14% to $108 million, with operating margin rising to 12.1% from 10.4% in Q3 2024, driven by cost savings and disciplined expense management; adjusted operating profit was $116 million, up 3%.
EPS surged to $0.76, up 986% year-over-year, driven by a $0.64 per share discrete tax benefit from the release of valuation allowances on U.S. deferred tax assets; adjusted EPS was $0.15, up 25%.
Discontinued operations, including the global Champion business, U.S. outlet stores, and Champion Japan, resulted in a net loss of $1 million in Q3 2025.
A definitive merger agreement was announced for acquisition by Gildan, with no further guidance provided due to the pending transaction.
Financial highlights
Gross profit for Q3 2025 was $363 million, down 3% year-over-year, with gross margin at 40.8%, down 70 basis points.
SG&A expenses decreased 8.4% year-over-year, supporting margin expansion.
Interest and other expenses declined by $3 million to $55 million, reflecting lower debt balances.
For the nine months ended September 27, 2025, net sales increased 1% to $2.64 billion, and operating profit rose to $342 million from $66 million in the prior year period.
Net income for the nine months was $343 million, compared to a net loss of $308 million in the prior year period.
Outlook and guidance
No forward guidance is being provided due to the pending Gildan transaction, but management believes the company is on track to meet its previously provided full-year 2025 EPS outlook.
Management expects sufficient cash and available borrowings to support operations and key strategies for at least the next 12 months.
The company continues to focus on cost savings, margin expansion, and debt reduction, with a target leverage ratio of two to three times net debt to adjusted EBITDA.
Quantify Gildan transaction related costs Q3
Why did organic constant currency sales decline
What drove the significant Q3 cash flow decline
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Next HanesBrands earnings date
Q4 202512 Feb, 2026
Next HanesBrands earnings date
Q4 202512 Feb, 2026
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Frequently asked questions
Hanesbrands
Hanesbrands Inc. is an American clothing company selling its products globally. The company owns and operates several well-known clothing brands such as Hanes, Champion, Playtex, and several other notable names within the sector. Through its different brands, the company sells apparel aimed at a wide customer base, including men, women, and children, but with a clear focus on staples and comfortable clothing. The company is headquartered in Winston-Salem, North Carolina and its shares are traded on the NYSE
Hosiery and a Spin-Off
Founded in 1901 by John Wesley Hanes in Winston-Salem, North Carolina, the company initially focused on producing high-quality hosiery. The company slowly but surely grew over the decades, and soon came to produce a wide array of clothing with everything from underwear, staples like T-shirts and sweatshirts, activewear, and more.
The modern structure of Hanesbrands was established in 2006 when the company became an independent entity following its spin-off from the Sara Lee Corporation. This strategic move was a result of Sara Lee's decision to focus on its food, beverage, and household products segments.
The Apparel
While many associate the name 'Hanes' with basics like underwear and t-shirts, Hanesbrands' portfolio goes well beyond that. The company produces everyday basic apparel which includes innerwear, outerwear, hosiery, and activewear. Its products span a range of categories, from bras and panties to socks, sweatshirts, and athletic apparel. With a collection of well-known brands under its umbrella, such as Champion, Playtex, Bali, and Maidenform, the company caters to various consumer groups. From sports enthusiasts looking for performance gear to individuals seeking comfortable daily wear, Hanesbrands will more than likely have something that a consumer would find appealing.
Reaching Consumers
Hanesbrands Inc. uses several channels to sell its products to consumers. The company operates online stores, offering a convenient platform for customers to browse and purchase directly from the brand's digital catalog. Hanesbrands also owns and operates its own brick-and-mortar locations, as well as selling its merchandise through partnerships with other retailers. Some of the closest competitors to Hanesbrands are Fruit of the Loom (owned by Warren Buffets Berkshire Hathaway) and Gildan.
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