August 4, 2022 – Gildan Activewear Inc. (GIL: TSX and NYSE) announced results for the second quarter ended July 3, 2022. “We are pleased with our record sales and earnings for the quarter, underpinned by the Gildan sustainable growth strategy, including our focus on innovation and ESG,” said Glenn J. Chamandy, Gildan President and CEO. “Furthermore, our first half performance points to the tight control we currently have over our supply chain and cost structure, which puts us in a good position to support our customers’ demand as we move through the remainder of the year.”
Key Highlights:
• Record sales of $896 million, up 20% over prior year
• Operating margin of 19.4% and adjusted operating margin1 of 19.6%
• Record GAAP diluted EPS of $0.85, adjusted diluted EPS1 of $0.86 up 27% over Q2 2021
• Cash flows from operating activities of $210 million and strong free cash flow1 of $159 million in the quarter
• Company announces renewal of Normal Course Issuer Bid to repurchase up to 5% of outstanding shares
• Gildan named one of Canada’s Top 50 Corporate Citizens by Corporate Knights
Read the full press release here