MONTREAL-Gildan Activewear announces second quarter earnings, ended July 2, 2017, and updates its full year guidance for 2017.
The company categorizes the second quarter as “another strong quarter of earnings growth and free cash flow generation,” including consolidated net sales of $715 million and a free cash flow more than $160 million in the quarter. In addition to cash flow and net sales, the statement reports GAAP diluted earnings per share (EPS) of $0.48 and adjusted diluted EPS of $0.49, an increase of approximately 20 percent from the company’s 2016 second-quarter results.
In guidance and outlook, Gildan says it expects its adjusted diluted EPS to reach the high end of the $1.60-1.70 range. The company also expects its adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) to reach the high end of the $555-585 million range.
The company delivered a detailed report of earnings and outlook in a recent conference call to shareholders.
To view the full report, visit http://bit.ly/2vBBDjZ.