Business
Gildan Reports Record Fourth Quarter Revenue and Adjusted Diluted EPS¹ and Initiates Guidance for 2025
(all amounts are in U.S. dollars except where otherwise indicated) (1) Please refer to "Def...
About this update from Gildan Activewear Inc.
[{"type":"text","content":"Gildan Reports Record Fourth Quarter Revenue and Adjusted Diluted EPS¹ and Initiates Guidance for 2025\n\n\n\n\n\n (all amounts are in U.S. dollars except where otherwise indicated)\n \n\n\n (1) Please refer to \"Definition and reconciliation of non-GAAP financial measures\" in this press release\n \n\n\n\n\n Record fourth quarter net sales of $822 million, up 5% vs. the prior year\n \n\n Fourth quarter operating margin of 21.8%, adjusted operating margin\n \n 1\n \n of 21.3%\n \n\n Fourth quarter GAAP diluted EPS of $0.86 and record fourth quarter adjusted diluted EPS\n \n 1\n \n of $0.83\n \n\n Cash flow from operations of $211 million in Q4 and $501 million for the full year; free cash flow\n \n 1\n \n of $208 million in Q4 and $389 million for the full year\n \n\n Capital returned to shareholders of $246 million in Q4 and $889 million for the full year, through dividends and share repurchases\n \n\n Company announces 10% dividend increase for 2025\n \n\n Company initiates 2025 annual guidance\n \n\n\n\n MONTREAL, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL: TSX and NYSE) today announced results for the fourth quarter and full year ended December 29, 2024, and initiated annual guidance for 2025. In addition, the Company announced a dividend increase of 10% for 2025.\n \n\n The Company's 40th anniversary year concluded on a high note with record revenue of $3,271 million, adjusted operating margin\n \n 1\n \n of 21.3% and year over year adjusted diluted EPS\n \n 1\n \n growth of 17%, fully in line with guidance provided. “This past year has been a testament to the collective strength and dedication of our global team, the loyalty of our customers, and the ongoing support and trust of our shareholders. Reflecting on our full-year performance, it’s clear that our success has been driven by our unwavering focus on executing our GSG strategy. By reinforcing our core competencies as a low-cost, large-scale, vertically integrated sustainable manufacturer, we continued to enhance our competitive advantage, and we are well positioned for continued growth in the years ahead,\" said Glenn J. Chamandy, Gildan’s President and CEO.\n \n\n\n Fourth Quarter\n \n\n 2024\n \n\n Results\n \n\n Net sales were $822 million, up 5% over the prior year. Excluding the impact of the Under Armour ph...