Gildan Activewear sees FY24 adjusted EPS $2.92-$3.07, consensus $3.00

Sees FY24 revenue growth to be flat to up low-single digits; adjusted operating margin slightly above the high end of our 18% to 20% annual target range; Capex to come in at approximately 5% of sales; free cash flow above 2023 levels driven by increased profitability, lower working capital investments and lower capital expenditures than in 2023. The company said, “Over the last year, Gildan has continued to execute on the key components of the Gildan Sustainable Growth strategy. While an industry-wide soft demand environment has meant that revenue growth during this period was challenging to achieve, we have nonetheless continued to drive market share gains in key product categories. This positions us well as we move forward, leveraging our strategy and strong capabilities, and further opportunities in the targeted markets that we serve.”