October 31, 2024 – Gildan Activewear achieved record third-quarter revenue, reaching $891 million, a 2.4% increase over last year. Activewear sales grew 6% to $788 million, while international sales surged by 20%, driven by strong inventory replenishments and the scaling of Gildan’s Bangladesh facility. The company posted an operating margin of 21.7%, with adjusted EPS at $0.85, a 15% year-over-year increase, thanks to lower raw material costs and manufacturing efficiencies.

Gross profit rose to $278 million, or 31.2% of net sales, marking a 370 basis point improvement from last year. Although hosiery and underwear sales declined due to the Under Armour exit, overall performance in this category would have seen double-digit growth without it. Gildan returned a record $404 million to shareholders through dividends and share repurchases and generated $149 million in free cash flow. CEO Glenn Chamandy attributed these gains to the company’s strategic focus on capacity expansion, innovation, and ESG, which has strengthened its market position and supports future growth.

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