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Gildan (NYSE: GIL) 2Q19 Results: Higher Revenue Driven by Activewear, Updates Full Year Guidance

Executive Summary

  • Adjusted EPS was up 7.7% to $0.56, ahead of the consensus estimates of $0.55.
  • Gross margin was down 50 basis points (bps) to 27.8% due to rising raw materials costs, inflationary pressure on other input 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 sales guidance of mid-single-digit growth for 2019, and adjusted EPS guidance to $1.95-2.00 from $1.90-2.00.

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