Gildan Reports Third-Quarter Earnings, Updates Guidance

Gildan reports third-quarter earnings and updates its guidance for 2016. 

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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.

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Mike Clark

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