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Company Earnings Update

Gildan (NYSE: GIL) 1Q19 Results: Updates Outlook, Announces International Capacity Expansion

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Coresight Research

Key Points

  • Gildan 1Q19 sales declined 3.6% to $623.9 million and adjusted EPS decreased 52.9% to $0.16, ahead of the consensus estimates of $599.8 million and $0.15, respectively.
  • Gross margin was down 140 bps to 25.8% due to rising costs and unfavorable foreign exchange, partially offset by the positive impact from higher net selling prices and a more favorable product mix.
  • The company reiterated its sales guidance of mid-single-digit sales growth for 2019, and lowered adjusted EPS guidance to $1.90-2.00 from $2.00-2.10.

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