KTB

EX-99.1

2 a2026q2ktberexhibit991.htm

EX-99.1

Document

Exhibit 99.1

KONTOOR BRANDS REPORTS 2026 SECOND QUARTER RESULTS AND RAISES FULL YEAR OUTLOOK; EXPECTS TO ENTER INTO A $400 MILLION ACCELERATED SHARE REPURCHASE AGREEMENT

Second Quarter Highlights

•Revenue from continuing operations of $584 million increased 19 percent compared to prior year, driven by $114 million of Helly Hansen revenue, exceeding expectations, and 2 percent growth in Wrangler

•Reported gross margin from continuing operations of 56.2 percent. Adjusted gross margin of 53.8 percent increased 710 basis points compared to prior year

•Reported operating income from continuing operations of $91 million. Adjusted operating income of $94 million increased 19 percent compared to prior year

•Reported Diluted EPS from continuing operations of $1.03. Adjusted EPS of $1.06 increased 13 percent compared to prior year

•Repurchased $50 million of common stock at $74 per share

Other Key Highlights

•Full year 2026 adjusted earnings per share from continuing operations is now expected to be in the range of $5.25 to $5.35, reflecting 27 to 29 percent growth compared to prior year (prior outlook range $5.15 to $5.25)

•Full year 2026 adjusted gross margin from continuing operations has strengthened and is now expected to be in the range of 49.8 to 50.0 percent, reflecting an increase of 330 to 350 basis points compared to prior year

•Full year 2026 outlook includes approximately $25 million of incremental brand-building and other growth-enabling investments to further accelerate long-term growth

•The Lee business divestiture is on track to close in the fourth quarter

•Upon closing of the Lee business divestiture, the Company intends to deploy the expected proceeds into a $400 million Accelerated Share Repurchase agreement, with the remaining proceeds allocated towards voluntary debt payments

•Expect to return more than $900 million of capital in 2026 through share repurchases, dividends and voluntary debt payments, including the proceeds from the Lee divestiture

GREENSBORO, N.C. - August 12, 2026 - Kontoor Brands, Inc. (NYSE: KTB) today reported financial results for its second quarter ended July 4, 2026.

“Our second quarter results were driven by growth from Wrangler, a stronger-than-expected contribution from Helly Hansen and robust gross margin expansion,” said Scott Baxter, Chief Executive Officer and Chairman of the Board of Directors. "Wrangler delivered another quarter of diversified growth led by strong performance in female, direct-to-consumer and international, coupled with exceptional profitability and cash generation. Helly Hansen delivered a better-than-expected quarter and for the first half of 2026, delivered double-digit revenue growth on a pro-

forma basis and significant profitability improvement fueled in part by the benefits of our multi-brand platform."

Joe Alkire, Kontoor Brands’ President and Chief Financial Officer added, "As we look ahead, we are sharpening our portfolio focus and increased investment on our largest growth opportunities. We are raising our full year outlook based on the strength we have seen in our year-to-date results, and our confidence and visibility as we enter the second half of the year. With the Lee divestiture on track to close in the fourth quarter, we intend to deploy $400 million of the expected proceeds into an Accelerated Share Repurchase agreement based on the confidence we have in our long-term strategy and value creation potential."

Second Quarter 2026 Income Statement from Continuing Operations Review

Revenue was $584 million and increased 19 percent compared to prior year, including the contribution from the acquisition of Helly Hansen completed in the second quarter of 2025.

Wrangler brand global revenue was $469 million and increased 2 percent compared to prior year. Wrangler U.S. revenue increased 1 percent, driven by a 9 percent increase in direct-to-consumer. U.S. wholesale was flat compared to prior year. Wrangler international revenue increased 10 percent compared to prior year, driven by a 31 percent increase in direct-to-consumer and a 7 percent increase in wholesale.

Helly Hansen global revenue was $114 million. Sport and Workwear revenue was $70 million and $37 million, respectively. Musto brand revenue was $7 million.

Gross margin on a reported basis increased 970 basis points to 56.2 percent. On an adjusted basis, gross margin increased 710 basis points to 53.8 percent compared to prior year, driven by the benefits of Project Jeanius, the acquisition of Helly Hansen and the impact of favorable channel mix, product mix and pricing.

Selling, General & Administrative (SG&A) expenses were $238 million, or 40.7 percent of revenue on a reported basis. On an adjusted basis, SG&A expenses increased to $221 million, or 37.8 percent of revenue. The increase in SG&A expenses was driven by the impact of a full quarter of Helly Hansen expenses compared to prior year, and in

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ktb-202603030001760965false00017609652026-03-032026-03-03

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): March 3, 2026

KONTOOR BRANDS, INC.

(Exact name of registrant as specified in charter)

North Carolina001-3885483-2680248 (State or other jurisdiction of incorporation)(Commission file number)(I.R.S. employer identification number)

400 N. Elm Street Greensboro, North Carolina 27401 (Address of principal executive offices) (336) 332-3400 (Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading Symbol(s)Name of Each Exchange on which Registered Common Stock, no par valueKTBNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02. Results of Operations and Financial Condition. On March 3, 2026, Kontoor Brands, Inc. issued a press release announcing financial results for the fourth quarter and full year fiscal 2025. A copy of the press release is furnished as Exhibit 99.1 and incorporated herein by reference. Item 9.01. Financial Statements and Exhibits. (d) Exhibits.

Exhibit No.Description 99.1 Press release issued by Kontoor Brands, Inc., dated March 3, 2026, announcing financial results for the fourth quarter and full year fiscal 2025.

104Cover Page Interactive Data File - The cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

KONTOOR BRANDS, INC.

Date: March 3, 2026By:/s/ Joseph A. Alkire Name:Joseph A. Alkire Title:Executive Vice President, Chief Financial Officer and Global Head of Operations