The earnings call highlighted strong sales growth, profitability improvements, and strategic advancements in capacity and innovation. Despite some challenges in the Hosiery and Underwear category and potential external risks related to tariffs, the overall outlook remains positive with continued shareholder returns and a confident guidance for future growth.

Company Guidance

In the third quarter of 2024 earnings call for Gildan Activewear, the company provided robust guidance and outlined several key metrics. The company reported record third quarter sales of $891 million, a 2.4% increase from the previous year, with adjusted operating margins rising by 430 basis points to 22.4%. The adjusted diluted EPS reached a record $0.85, reflecting a 15% increase year-over-year. Gildan returned $404 million to shareholders in Q3, contributing to a year-to-date return of $643 million. Moving forward, the company expects mid-single-digit sales growth from 2025 to 2027, improved operating margins, and adjusted EPS growth in the mid-teens range. Capital expenditures are anticipated to average about 5% of sales annually, with continued share repurchases aligning with a leverage framework of 1.5x to 2.5x net debt to adjusted EBITDA. The outlook for 2024 has been adjusted to anticipate low-single-digit revenue growth, with adjusted operating margins exceeding 21% and adjusted diluted EPS projected between $2.97 and $3.02.

Record Third Quarter Sales

Gildan Activewear reported record third quarter sales of $891 million, up 2.4% year-over-year. Excluding the phase-out of Under Armour, sales would have been up in high-single digits.

Increased Profitability

Adjusted operating margins improved to 22.4%, up 430 basis points year-over-year, with record third quarter adjusted diluted EPS of $0.85, a 15% increase compared to last year.

Strong Performance in International Markets

International sales increased by 20%, driven by positive performance in Europe and inventory replenishment by distributors.

Focus on Innovation and Capacity Expansion

Gildan is leveraging benefits from its Bangladesh operation and new technologies, such as soft cotton technology and MVS technology for fleece, to drive future growth.

Strong Cash Flow and Shareholder Returns

Generated free cash flow of $149 million in Q3, repurchased close to 9 million shares, and returned a quarterly record of $404 million in capital to shareholders.

Positive Outlook and Guidance

The company expects low-single-digit revenue growth for the full year 2024 and adjusted diluted EPS growth of 15.5% to 17.5% year-over-year.

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Gildan Activewear (GIL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

GIL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 02, 2018	2018 (Q2)	- / 0.52	0.49	6.12% (+0.03)	―	―
Nov 01, 2018	2018 (Q3)	- / 0.57	0.53	7.55% (+0.04)	―	―
Feb 21, 2019	2018 (Q4)	- / 0.43	0.31	38.71% (+0.12)	―	―
May 01, 2019	2019 (Q1)	- / 0.16	0.34	-52.94% (-0.18)	―	―
Aug 01, 2019	2019 (Q2)	- / 0.56	0.52	7.69% (+0.04)	―	―
Oct 31, 2019	2019 (Q3)	- / 0.53	0.57	-7.02% (-0.04)	―	―
Feb 20, 2020	2019 (Q4)	- / 0.41	0.43	-4.65% (-0.02)	―	―
Apr 29, 2020	2020 (Q1)	- / 0.06	0.16	-62.50% (-0.10)	―	―
Jul 30, 2020	2020 (Q2)	- / -0.99	0.56	-276.79% (-1.55)	―	―
Oct 29, 2020	2020 (Q3)	- / 0.30	0.53	-43.40% (-0.23)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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GIL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 31, 2024	$48.17	$48.70	+1.10%
Aug 01, 2024	$40.30	$40.92	+1.54%
May 01, 2024	$34.08	$33.04	-3.05%
Feb 21, 2024	$33.17	$34.44	+3.83%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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