Why Gildan Activewear Shares Are Rising Today
Portfolio Pulse from Nabaparna Bhattacharya
Gildan Activewear, Inc. (NYSE:GIL) shares rose after reporting Q4 earnings and revenue that beat analyst expectations. Earnings per share were $0.75, above the consensus of $0.73, with revenues at $782.7 million, surpassing the expected $764.48 million. Net sales increased by 9% year over year, with activewear sales up 8% and hosiery and underwear sales up 11%. The company also raised its quarterly dividend by 10% and provided an FY24 outlook expecting revenue growth to be flat to low-single digits and adjusted EPS of $2.92-$3.07.
February 21, 2024 | 5:25 pm
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Gildan Activewear reported higher than expected Q4 earnings and revenue, raised its quarterly dividend by 10%, and provided a positive FY24 outlook.
Gildan's Q4 performance exceeded analyst expectations, with significant year-over-year sales growth in key categories and a raised dividend, signaling strong financial health and confidence in future growth. This positive news is likely to boost investor confidence and drive short-term stock price appreciation.
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