Earnings ·
Gildan Activewear reports $259M Q3 net earnings on Hanes acquisition, declares $0.249 quarterly dividend
GILGildan Activewear Inc.
Gildan Activewear reported third-quarter net earnings of $259 million, or $1.40 per diluted share, driven by the full consolidation of HanesBrands and approximately $177 million in International Emergency Economic Powers Act (IEEPA) tariff refunds. Net sales rose 61% to $1.47 billion, though this fell short of guidance due to demand softness and product availability constraints. The company also completed the sale of its Australian business for approximately $490 million, using proceeds to repay debt. Additionally, Gildan declared a quarterly cash dividend of $0.249 per share. Gildan is a leading vertically integrated manufacturer of everyday basic apparel, including activewear, underwear, socks and intimates products.