Gildan Activewear (GIL) came out with quarterly earnings of $0.85 per share, beating the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $0.74 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 1.19%. A quarter ago, it was expected that this apparel maker would post earnings of $0.72 per share when it actually produced earnings of $0.74, delivering a surprise of 2.78%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times. Gildan, which belongs to the Zacks Textile – Apparel industry, posted revenues of $891.1 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.01%. This compares to year-ago revenues of $869.9 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call. Gildan shares have added about 46.3% since the beginning of the year versus the S&P 500’s gain of 21.9%.
