Kontoor Brands (KTB) FY2024 results: revenue $2.6 billion, unchanged on the year

Kontoor Brands, Inc. (KTB) reported revenue of $2.6 billion for fiscal 2024, the year ended 28 December 2024, unchanged on the year before. Net income was $246 million, up 6.4%, and diluted earnings per share $4.36. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.

Revenue

$2.6 billion

+0.0% on the year

FY2017FY2024

Operating margin

13.1%

12.2% a year earlier

FY2017FY2024

Net income

$246 million

+6.4% on the year

FY2017FY2024

Diluted EPS

$4.36

+7.4% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	2,608	2,607	2,631	+0.0%
Cost of revenue	1,446	1,520	1,497	-4.8%
Gross profit	1,162	1,088	1,134	+6.8%
Gross margin	44.5%	41.7%	43.1%
Selling, general and administrative	819	769	778	+6.6%
Operating income	342	319	357	+7.2%
Operating margin	13.1%	12.2%	13.6%
Interest expense	40.8	40.4	34.9	+1.0%
Pre-tax income	301	272	319	+10.9%
Income tax	55.6	40.9	73.6	+36.0%
Effective tax rate	18.5%	15.0%	23.1%
Net income	246	231	245	+6.4%
Net margin	9.4%	8.9%	9.3%
Diluted EPS	$4.36	$4.06	$4.31	+7.4%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	368	357	83.6	+3.3%
Capital expenditure	18.8	27.4	18.4	-31.3%
Free cash flow	349	329	65.2	+6.2%
Free cash flow margin	13.4%	12.6%	2.5%
Cash from investing	-22.3	-39.1	-30.1
Cash from financing	-240	-156	-171
Depreciation and amortisation	42.6	38.0	37.1	+12.1%
Share-based compensation	26.6	16.7	21.9	+59.0%
Buybacks	85.7	30.1	62.5	+184.5%
Dividends paid	112	109	104	+3.2%
Dividend per share	$2.02	$1.94	$1.86	+4.1%
Diluted shares, weighted	56m	57m	57m	-1.1%
Shares outstanding at period end	55m	56m	56m	-0.7%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	400	372	251	+7.6%
Short-term borrowings	n/a	0.0	n/a
Debt	740	784	800	-5.6%
Operating lease liabilities	30.0	36.8	31.5	-18.5%
Other liabilities	480	453	500	+6.0%
Total liabilities and equity	1,651	1,645	1,582	+0.3%
Fixed assets	103	112	104	-7.8%
Goodwill	209	210	210	-0.5%
Intangible assets	11.2	12.5	13.4	-10.1%
Cash and equivalents	334	215	59.2	+55.3%
Receivables	244	218	226	+11.9%
Inventory	390	500	597	-22.0%
Other assets	359	378	373	-4.9%
Total assets	1,651	1,645	1,582	+0.3%

10-K for the year ended 28 December 2024, filed 25 February 2025: the filing.