2023-08-03 07:16:12 ET
- Gildan Activewear press release ( NYSE: GIL ): Q2 Non-GAAP EPS of $0.63 beats by $0.02 .
- Revenue of $840M (-6.3% Y/Y) beats by $22.43M .
- Company announces renewal of Normal Course Issuer Bid to repurchase up to 5% of issued and outstanding shares
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Accordingly, for FY 2023, we are updating our outlook as follows:
- Revenues for the full year flat to down low single digits, compared to our previous expectations of a low single digit year-over-year increase;
- Full year adjusted operating margin slightly below the low end of our current 18% to 20% annual target range;
- Adjusted diluted EPS in the range of $2.55 to $2.65, including the impact of assumed share repurchases of 5% of the outstanding public float in 2023. Our previous guidance called for EPS to be in line with record FY 2022 adjusted diluted EPS of $3.11;
- Capex maintained at the lower end of our 6% to 8% target range;
- Strong full year free cash flow generation above $425 million.
For further details see:
Gildan Activewear Non-GAAP EPS of $0.63 beats by $0.02, revenue of $840M beats by $22.43M