Carter's Expects Decline In Q4 Results, Lifts Annual Earnings Outlook

(RTTNews) - Carter's, Inc. (CRI), a maker of children's apparel, on Friday revealed fourth-quarter outlook, while revising up annual earnings guidance.

For the fourth quarter, the firm expects adjusted income per share of $1.32 to $1.72, on sales of $800 million to $840 million. Analysts polled by Thomson Reuters, on average expect the company to record earnings of $1.85 per share, on revenue of $825.49 million. Analysts' estimates typically exclude special items.

In the prior year fourth-quarter, the apparel company had posted an adjusted profit per share of $2.76, on sales of $858 million. For the full year, CRI has revised up its annual adjusted earnings guidance, based on its revised expectations for lower borrowing costs and effective tax rate.

For the full year, the company now expects adjusted income per share of $4.70 to $5.15, compared with the prior outlook of $4.60 to $5.05 per share. The firm has reaffirmed its annual sales outlook of $2.785 billion to $2.825 billion.

Analysts, on average, forecast the company to register earnings of $5.04 per share, on revenue of $2.81 billion, for the year.

For the full-year 2023, CRI had recorded adjusted income per share of $6.19, with revenue of $2.95 billion.