February 19, 2025 – Gildan announced record-breaking financial results for 2024, marking a successful conclusion to its 40th anniversary year. Annual revenue reached $3.27 billion, with an adjusted operating margin of 21.3% and adjusted diluted EPS up 17%, aligning with the company’s guidance. In addition, the Company announced a dividend increase of 10% for 2025. brbr

Q4 2024 Results

• Net sales: $822 million (+5% YoY), driven by 11% growth in Activewear sales.
• International sales: +20% YoY due to improved sell-through and distributor inventory replenishment.
• Hosiery and underwear: Net sales fell 23% due to the Under Armour phase-out, though sales increased by high single digits when excluding this impact.
• Gross profit: $253 million (30.8% margin), up from $237 million due to lower raw material costs.
• Adjusted SG&A expenses were $78 million (9.5% of sales), reflecting cost efficiencies.
• Adjusted diluted EPS rose 11% YoY to $0.83. brbr

Full-Year 2024 Highlights

• Net sales: $3.27 billion (+2% YoY), with Activewear sales at $2.83 billion (+6%).
• Gross profit: $1.00 billion, with a 30.7% margin (+320 basis points YoY).
• Adjusted operating income: $696 million, up $143 million from the prior year.
• Adjusted diluted EPS increased 17% to $3.00.
• Free cash flow: $389 million, steady with the prior year.
• $889 million returned to shareholders through dividends and share buybacks.

2025 Outlook
Gildan anticipates mid-single-digit revenue growth, a 50-basis-point improvement in operating margin, adjusted EPS between $3.38 and $3.58 (up 13% to 19%), and free cash flow exceeding $450 million. The company remains committed to executing its Gildan Sustainable Growth strategy and achieving its 2025–2027 growth objectives.

February 19, 2025 –

Gildan announced record-breaking financial results for 2024, marking a successful conclusion to its 40th anniversary year. Annual revenue reached $3.27 billion, with an adjusted operating margin of 21.3% and adjusted diluted EPS up 17%, aligning with the company’s guidance.

Q4 2024 Results

• Net sales: $822 million (+5% YoY), driven by 11% growth in Activewear sales.
• International sales: +20% YoY due to improved sell-through and distributor inventory replenishment.
• Hosiery and underwear: Net sales fell 23% due to the Under Armour phase-out, though sales increased by high single digits when excluding this impact.
• Gross profit: $253 million (30.8% margin), up from $237 million due to lower raw material costs.
• Adjusted SG&A expenses were $78 million (9.5% of sales), reflecting cost efficiencies.
• Adjusted diluted EPS rose 11% YoY to $0.83.

Full-Year 2024 Highlights

• Net sales: $3.27 billion (+2% YoY), with Activewear sales at $2.83 billion (+6%).
• Gross profit: $1.00 billion, with a 30.7% margin (+320 basis points YoY).
• Adjusted operating income: $696 million, up $143 million from the prior year.
• Adjusted diluted EPS increased 17% to $3.00.
• Free cash flow: $389 million, steady with the prior year.
• $889 million returned to shareholders through dividends and share buybacks.

2025 Outlook
Gildan anticipates mid-single-digit revenue growth, a 50-basis-point improvement in operating margin, adjusted EPS between $3.38 and $3.58 (up 13% to 19%), and free cash flow exceeding $450 million. The company remains committed to executing its Gildan Sustainable Growth strategy and achieving its 2025–2027 growth objectives.