Gildan Activewear (TSE:GIL) has released an update.
Gildan Activewear Inc. has reported a slight decrease in net sales to $696 million for Q1 2024, but showcased a strong adjusted operating margin of 18.0% and a significant increase in adjusted diluted EPS, up 31% to $0.59. Despite a 10% decline in hosiery and underwear sales, the company saw growth in activewear and international markets, and confirmed its full-year 2024 guidance, projecting increased profitability and higher free cash flow. Capital returned to shareholders totaled $57 million, with a stable net debt leverage ratio reflecting confident financial management.
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