Gildan Activewear Inc. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Gildan Activewear Inc. (GIL) announced a profit for third quarter that Decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $120.2 million, or $0.80 per share. This compares with $131.5 million, or $0.82 per share, last year.

Excluding items, Gildan Activewear Inc. reported adjusted earnings of $148.8 million or $1.00 per share for the period.

Analysts on average had expected the company to earn $0.98 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 2.2% to $910.6 million from $891.1 million last year.

Gildan Activewear Inc. earnings at a glance (GAAP) :

-Earnings: $120.2 Mln. vs. $131.5 Mln. last year. -EPS: $0.80 vs. $0.82 last year. -Revenue: $910.6 Mln vs. $891.1 Mln last year.

-Guidance: Full year EPS guidance: $3.45 to $3.51

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