RTTNews | Feb 9, 2021 06:47AM EST

06:47 Tuesday, February 9, 2021 (RTTNews.com) - While reporting financial results for the fourth quarter on Tuesday, basic apparel maker HanesBrands, inc. (HBI) provided earnings and net sales guidance for the first quarter, above analysts' expectations.

For the first quarter, the company expects earnings and adjusted earnings in a range of $0.24 to $0.27 per share on net sales between about $1.485 billion and $1.515 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.18 per share on net sales of $1.46 billion for the quarter. Analysts' estimates typically exclude special items.

The company's Board of Directors also declared a regular quarterly cash dividend of $0.15 per share to be paid on March 9, 2021, to stockholders of record at the close of business on February 19, 2021.

In addition, the company announced plans to explore strategic alternatives for its European Innerwear business in order to further simplify its operations and focus resources on its strategic growth opportunities.

The company said it plans to provide a full-year 2021 outlook as well as three-year financial targets as part of its detailed comprehensive review of the Full Potential plan at its upcoming Virtual Investor Day in May.

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