Kontoor Brands Reports Stronger 2026 First Quarter Results and Raises Full Year Outlook; Announces Planned Divestiture of Lee and $750 Million Share Repurchase Program

About this update from Kontoor Brands, Inc.

[{"type":"text","content":"During the first quarter, the Company initiated a competitive process to divest the Lee business. As a result, the Company’s first quarter results and updated 2026 outlook reflect the presentation of the Lee business as discontinued operations.","length":244,"tagName":"p"},{"type":"text","content":"Key Highlights","length":14,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"First quarter revenue including the contribution from discontinued operations was $808 million. Revenue from Lee of $195 million now reported in discontinued operations. First quarter revenue from continuing operations of $613 million exceeded expectations driven by 4 percent growth in Wrangler and 16 percent growth in Helly Hansen on a pro-forma basis","length":354,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"First quarter reported EPS including the contribution from discontinued operations was $1.65. First quarter adjusted EPS including the contribution from discontinued operations was $1.55. First quarter adjusted EPS from continuing operations was $1.06","length":251,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Full year revenue outlook including the contribution from discontinued operations is now expected to be in the range of $3.41 to $3.46 billion ($3.40 to $3.45 billion prior). Expected revenue from Lee of approximately $750 million now reported in discontinued operations. Full year revenue outlook from continuing operations is now expected to be in the range of $2.66 to $2.71 billion driven by growth in Wrangler and Helly Hansen","length":431,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Full year adjusted EPS outlook including the contribution from discontinued operations is now expected to be in the range of $6.60 to $6.70 ($6.40 to $6.50 prior)","length":162,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"The Company announced plans to divest the Lee business to sharpen strategic focus on its largest growth assets and enhance capital allocation optionality","length":153,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"The Company’s Board of Directors approved a new $750 million share repurchase authorization","length":91,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":1442,"olType":false},{"type":"text","conten...

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