Strong cash generation is expected to support continued aggressive debt paydown, which is anticipated to be at least $100 million during the fourth quarter. You can identify these statements by the fact that they use words such as “will,” “anticipate,” “estimate,” “expect,” “should,” “may” and other words and terms of similar meaning or use of future dates. GREENSBORO, N.C.--(BUSINESS WIRE)-- Kontoor Brands, Inc. (NYSE: KTB), a global lifestyle apparel company, with a portfolio led by two of the world’s most iconic consumer brands, Wrangler® and Lee®, today reported financial results for its third quarter ended September 26, 2020. Quarterly Dividend Reinstated and Declared. Third Quarter 2020 Income Statement Review. Constant Currency - This release refers to “reported” amounts in accordance with GAAP, which include translation and transactional impacts from changes in foreign currency exchange rates. While management believes that these non-GAAP measures are useful in evaluating the business, this information should be considered supplemental in nature and should be viewed in addition to, and not as an alternate for, reported results under GAAP. The impacts of COVID-19 were in part offset by growth in Digital, with U.S. digital wholesale increasing 68 percent and U.S. owned.com increasing 43 percent, as well as new business development wins and the previously mentioned timing shift. 17. At the same time, it's book networth has decreased by -29.93 %. Do the numbers hold clues to what lies ahead for the stock? EBITDA margin on a reported basis increased to 15.7 percent of revenue. KONTOOR BRANDS, INC. Condensed Consolidated and Combined Statements of Operations (Unaudited) Three Months Ended. Reconciliation of Adjusted Financial Measures - Quarter-to-Date (Non-GAAP), (In thousands, except for per share amounts), Cost of goods sold - as reported under GAAP, Selling, general and administrative expenses - as reported under GAAP, Adjusted selling, general and administrative expenses, Other expense, net - as reported under GAAP, Diluted earnings per share - as reported under GAAP, Depreciation and amortization - as reported under GAAP. These rate fluctuations can have a significant effect on reported operating results. On an adjusted basis, gross margin increased 240 basis points to 43.3 percent of revenue. … See “Notes to Supplemental Financial Information - Reconciliation of Adjusted Financial Measures" within the following pages. These restructuring and separation costs resulted in a corresponding tax impact of $4.2 million and $4.5 million for the three months ended September 2020 and September 2019, respectively. Lee® brand global revenue decreased to $214 million, down 8 percent on a reported and constant currency basis, driven primarily by COVID-19 impacts. Gross margin increased 410 basis points to 44.2 percent of revenue on a reported basis. As of September 2020, the Company had $125 million of outstanding borrowings under the Revolving Credit Facility and $368 million available for borrowing against this facility. Revenue in the fourth quarter of 2020 is expected to show continued sequential improvement from third quarter 2020 results, with revenue anticipated to be flat to down modestly. See “Notes to Supplemental Financial Information - Reconciliation of Adjusted Financial Measures" within the previous pages. Kontoor Brands revenues drop by 9 percent, expects recovery in Q4 For the third quarter, Kontoor Brands, Inc., having Wrangler and Lee under its portfolio, reported revenue decrease of 9 percent to 583 million dollars, on a reported and constant currency basis. Wrangler® brand global revenue decreased to $347 million, a 6 percent decline on a reported and constant currency basis. The cash dividend will be payable on December 18, 2020, to shareholders of record at the close of business on December 10, 2020. At inception, this facility consisted of a five-year $750.0 million term loan A facility (“Term Loan A”), a seven-year $300.0 million term loan B facility (“Term Loan B”) and a five-year $500.0 million revolving credit facility (the “Revolving Credit Facility”) (collectively, the “Credit Facilities”) with the lenders and agents party thereto. Net Debt - This release refers to “net debt” which represents total long-term debt, including current portion, less cash and equivalents. Earnings per share was $1.05 on a reported basis compared with $0.25 in the prior year. All per share amounts are presented on a diluted basis. (3) Net debt at quarter-end is calculated as total long-term debt, including current portion, outstanding under the Credit Facilities less the Company's cash and equivalents balance. “Investments in our brands, people and partnerships drove significant sequential top line improvement, while restructuring, quality-of-sales initiatives and accretive mix shifts supported solid gross margin increases. RT=Real-Time, EOD=End of Day, PD=Previous Day. We use constant currency information to provide a framework to assess how our business performed excluding the effects of changes in the rates used to calculate foreign currency translation. Kontoor designs, manufactures and distributes superior high-quality products that look good and fit right, giving people around the world the freedom and confidence to express themselves. For the three months ended September 2020 and September 2019, separation costs related to the spin-off from VF Corporation and establishment of Kontoor as a separate public company, which for the 2020 period primarily included costs associated with the ongoing implementation of the Company's global ERP system and information technology infrastructure. Foreign currency exchange rate fluctuations affect the amounts reported by the Company from translating its foreign revenues and expenses into U.S. dollars. FY19 highlights of Kontoor Brands’ results The company’s annual revenue decreased 8 percent to 2.55 billion dollars on a reported basis, down 6 percent in constant currency. KONTOOR BRANDS, INC. Condensed Consolidated and Combined Statements of Operations (Unaudited) Three Months Ended. Kontoor Brands India's operating revenues range is INR 100 cr - 500 cr for the financial year ending on 31 March, 2019. Please enable JavaScript This website requires JavaScript to work correctly. Given the company’s continued improving operational performance and strong cash flow generation, Kontoor Brands also announced that its board of directors has declared a regular quarterly cash dividend of 40 cents per share of its common stock payable on December 18, 2020, to shareholders of record at the close of business on December 10, 2020. In addition, these non-GAAP measures may be different from similarly titled measures used by other companies. Find the latest Revenue (Quarterly) Yoy Growth for Kontoor Brands, Inc. (KTB) Chart. Kontoor Brands Inc. KTB, -2.67% shares rose 3.5% in Thursday premarket trading after the denim company reported second-quarter revenue that exceeded expectations. 561,069 (1,924) 559,145. This release also refers to “constant currency” amounts, which exclude the translation impact of changes in foreign currency exchange rates. On an adjusted basis, gross margin increased 240 basis points to 43.3 percent of revenue. Despite the decline, both the Europe and China businesses experienced a gradual recovery during the quarter, with continued sequential revenue improvements in both regions expected in the fourth quarter. Kontoor (KTB) delivered earnings and revenue surprises of 31.25% and 29.79%, respectively, for the quarter ended June 2020. Fourth quarter adjusted SG&A is expected to increase year-over-year, driven by strategic decisions to amplify investments in demand creation and DTC in support of both the fourth quarter and long-term revenue. The company expects full-year adjusted EPS to be in the range of 2.25 dollars to 2.35 dollars. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are presented in the supplemental financial information included with this release that identifies and quantifies all reconciling adjustments and provides management's view of why this non-GAAP information is useful to investors. These adjusted presentations are non-GAAP measures. 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