Adjusted Amounts - This release refers to “adjusted” amounts that exclude the impact of restructuring and separation costs, a non-cash impairment charge related to our Rock & Republic® trademark during the third quarter of 2019 and other adjustments. Prior to 2020, the Other category also included transactions with VF for pre-Separation activities, none of which continued in 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. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. The Company continues to take the necessary, proactive steps to accommodate a prolonged COVID-19 operating environment. The Company was in compliance with the terms of its amended credit facility at the end of the third quarter. State of Alaska Department of Revenue […] Net … Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve several risks and uncertainties. State of Alaska Department of Revenue lowered its position in Kontoor Brands, Inc. (NYSE:KTB) by 16.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. Find the latest Revenue (Quarterly) Yoy Growth for Kontoor Brands, Inc. (KTB) Revenue (Quarterly) Yoy Growth is a widely used stock evaluation measure. Given the Company’s continued improving operational performance and strong cash flow generation, the Company today announced its Board of Directors has declared a regular quarterly cash dividend of $0.40 per share of its common stock. EBITDA on a reported basis was 91 million dollars and adjusted EBITDA was 109 million dollars, increasing 22 percent from 90 million dollars in the prior year. 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. “Our accomplishments during the third quarter are a direct reflection of our colleagues’ incredible efforts, and I want to thank them for their tremendous contributions throughout these dynamic times,” added Baxter. Kontoor Brands India's operating revenues range is INR 100 cr - 500 cr for the financial year ending on 31 March, 2019. Adjusted gross margin is anticipated to be above the 40.9 percent achieved in the prior year, reflecting continued benefits from ongoing restructuring and quality-of-sales initiatives, as well as higher anticipated growth in more accretive channels such as digital and improving mix within international. Management reviews net debt and available liquidity at quarter-end, as defined below, in its budgeting and review process. Adjustments during 2020 primarily represent costs associated with the Company’s global ERP implementation and information technology infrastructure build-out. Other global revenue, the company further said, declined 43 percent to 22 million dollars on a reported and constant currency basis driven by Covid-19 impacts to the company’s VF Outlet stores, as well as planned reductions in the sale of goods manufactured for third parties and the Rock & Republic brand. EBITDA margin on a reported basis increased to 15.7 percent of revenue. During the third quarter, the company’s U.S. revenue was 455 million dollars, flat year-over-year on a reported basis, led by U.S. digital wholesale increase of 68 percent and U.S. owned.com increase of 43 percent, as well as new business development wins and the previously mentioned timing shift. While management believes that these non-GAAP measures are useful in evaluating the business, this information should be viewed in addition to, and not as an alternate for, reported results under GAAP. Do the numbers hold clues to what lies ahead for the stock? September % (Dollars in thousands) 2020 2019 Change 2020 2019 Change. The constant currency information presented may not be comparable to similarly titled measures reported by other companies. Management uses the above non-GAAP financial measures internally in its budgeting and review process and, in some cases, as a factor in determining compensation. Adjusted EBITDA was $109 million, increasing 22 percent from $90 million in the prior year. These rate fluctuations can have a significant effect on reported operating results. Due to the Company's strong cash generation, during the third quarter of 2020, the Company made additional discretionary repayments on its revolver totaling $100 million. (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. This release refers to “adjusted” amounts and “constant currency” amounts, which are further described in the Non-GAAP Financial Measures section below. Statista. https://www.businesswire.com/news/home/20201029005311/en/. 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. Sales of Wrangler® and Lee® branded products at VF Outlet™ stores are not included in Other and are reported in their respective segments. 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. Adjusted gross margin in the fourth quarter of 2020 is anticipated to be above the 40.9 percent achieved in the prior year, reflecting continued benefits from ongoing restructuring and quality-of-sales initiatives, as well as higher anticipated growth in more accretive channels such as Digital and improving mix within international. We do not intend to update any of these forward-looking statements or publicly announce the results of any revisions to these forward-looking statements, other than as required under the U.S. federal securities laws. (4) Available borrowing capacity under the Revolving Credit Facility is calculated as the total borrowing limit under the Revolving Credit Facility less outstanding borrowings and standby letters of credit issued on behalf of the Company under the facility. 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. Quarterly Dividend Reinstated and Declared. Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. Kontoor Brands is a global lifestyle apparel company, with a portfolio of some of the world's most iconic denim brands: Wrangler® and Lee®. The firm owned 36,511 shares of the company’s stock after selling 7,300 shares during the quarter. The company expects full-year adjusted EPS to be in the range of 2.25 dollars to 2.35 dollars. Basis of presentation for all financial tables within this release: The Company operates and reports using a 52/53 week fiscal year ending on the Saturday closest to December 31 each year. Compare KTB With Other Stocks Kontoor Brands is the latest company to reveal the impact Covid-19 has had on its first quarter results. The cash dividend will be payable on December 18, 2020, to shareholders of record at the close of business on December 10, 2020. Certain statements included in this release and attachments are "forward-looking statements" within the meaning of the federal securities laws. Amounts herein may not recalculate due to the use of unrounded numbers. ... Revenue, which was $2.8 billion in 2018, fell to $2.5 billion last year. Please enable JavaScript This website requires JavaScript to work correctly. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to: risks associated with the Company's spin-off from VF Corporation, including the risk of disruption to our business in connection with the spin-off and that the Company could lose revenue as a result of such disruption; the risk that the Company does not realize all of the expected benefits of the spin-off; the risk that the spin-off will not be tax-free for U.S. federal income tax purposes; the risk that there will be a loss of synergies from separating the businesses that could negatively impact the balance sheet, profit margins or earnings of the Company; the risk of significant costs to the Company to perform certain functions (currently being performed by VF Corporation for the Company on a transitional basis) following the transition period; and the risk associated with significant restrictions on the Company’s actions in order to avoid triggering tax-related liabilities. “Our strategic actions delivered strong results in the quarter and are enhancing the Kontoor operating model focused on more profitable and sustainable long-term growth,” said Scott Baxter, President and Chief Executive Officer, Kontoor Brands. September % (Dollars in thousands) 2020 2019 Change 2020 2019 Change. These adjusted presentations are non-GAAP measures. Kontoor Brands is a purpose-led organization focused on leveraging its global platform, strategic sourcing model and best-in-class supply chain to drive brand growth and deliver long-term value for its stakeholders. Despite the decline, the company added that 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. Market Data powered by QuoteMedia. Wrangler® brand global revenue decreased to $347 million, a 6 percent decline on a reported and constant currency basis. Company Profile. 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. To calculate foreign currency translation on a constant currency basis, operating results for the current year period for entities reporting in currencies other than the U.S. dollar are translated into U.S. dollars at the average exchange rates in effect during the comparable period of the prior year (rather than the actual exchange rates in effect during the current year period). Review of Kontoor Brands’ third quarter performance During the third quarter, the company’s U.S. revenue was 455 million dollars, flat year-over-year on a reported basis, led by U.S. digital wholesale increase of 68 percent and U.S. owned.com increase of 43 percent, as well as new business development wins and the previously mentioned timing shift. … Gross margin for the quarter increased 410 basis points to 44.2 percent of revenue on a reported basis. Wrangler brand global revenue decreased to 347 million dollars, a 6 percent decline on a reported and constant currency basis. Revenue declines during the quarter were primarily driven by COVID-19 impacts, offset in part by increases in Digital, new business development wins, and a $33 million shift in the timing of U.S. Wrangler® shipments from the second quarter to the third quarter of 2020. The company said in a statement that revenue declines during the quarter were primarily driven by Covid-19 impacts, offset in part by increases in digital, new business development wins, and a 33 million dollars shift in the timing of U.S. Wrangler shipments from the second quarter to the third quarter of 2020. 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. Adjustments to reconcile net income to cash provided by operating activities: Property, plant and equipment expenditures, Collection of notes receivable from former parent, Cash (used) provided by investing activities, Borrowings under revolving credit facility, Repayments under revolving credit facility, Repayment of notes payable to former parent, Proceeds from issuance of Common Stock, net of shares withheld for taxes, Cash provided (used) by financing activities, Effect of foreign currency rate changes on cash and cash equivalents, Cash and cash equivalents – beginning of period, Cash and cash equivalents – end of period, Non-cash impairment of intangible asset (c), (Loss) profit related to other revenues (b). “Our strategic actions delivered strong results in the quarter and are enhancing the Kontoor operating model focused on more profitable and sustainable long-term growth,” said Scott Baxter, President and Chief Executive Officer, Kontoor Brands. 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