Gildan Activewear (GIL) Misses Q4 EPS by 3c

Gildan Activewear (NYSE: GIL) reported Q4 EPS of $0.65, $0.03 worse than the analyst estimate of $0.68. Revenue for the quarter came in at $720 million versus the consensus estimate of $763.72 million.

GUIDANCE:

• Revenue growth for the full year to be in the low single digit range;
• Full year adjusted operating margin to fall within our 18% to 20% annual target range, despite expected margin pressure in the first quarter driving us 200 to 300 basis points below the low end of our target range;
• Capex to come in at the lower end of our previously stated 6% to 8% range;
• Strong free cash flow1 generation as significant investments in our inventories, which have put us in a strong position to service our customers, are now mostly behind us;
• Adjusted diluted EPS in line with 2022, which assumes the continuation of share repurchases aligned with our capital allocation targets of purchasing approximately 5% of the outstanding public float in 2023.

For earnings history and earnings-related data on Gildan Activewear (GIL) click here.

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