MONTREAL-Gildan reports third-quarter earnings and updates its guidance for 2016. The company reports sales of $715 million, an increase of three percent compared to 2015 third-quarter earnings. Gildan also reports a strong free cash flow generation of $185 million, up more than 24 percent from the company’s 2015 third-quarter results.
In guidance updates, the company says it expects to achieve adjusted diluted earnings per share (EPS) of $1.48-$1.50 compared to a previous projection of $1.50-$1.55. Other updates include an expected $960 million in branded apparel sales. This figure was changed to reflect the revised shipment schedule of a licensed apparel line, which was originally scheduled to ship in the fourth quarter of 2016 and is now scheduled for the first quarter of 2017.
For more information on Gildan, visit: www.gildan.com