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BRIEF-Gildan Activewear Reports Q3 2018 Results

Published 2018-11-01, 07:25 a/m
BRIEF-Gildan Activewear Reports Q3 2018 Results

Nov 1 (Reuters) - Gildan Activewear Inc GIL.TO :

* GILDAN ACTIVEWEAR REPORTS THIRD QUARTER RESULTS AND UPDATES FULL YEAR GUIDANCE

* Q3 ADJUSTED EARNINGS PER SHARE $0.57

* Q3 GAAP EARNINGS PER SHARE $0.55

* Q3 SALES ROSE 5.3 PERCENT TO $754.4 MILLION

* INTERNATIONAL SALES UP 28% FOR QUARTER

* UPDATES GUIDANCE FOR FULL YEAR

* NARROWED ITS PROJECTED ADJUSTED DILUTED EPS RANGE FOR FULL YEAR TO $1.85 TO $1.87

* CONTINUES TO PROJECT NET SALES GROWTH FOR FULL YEAR TO BE IN MID-SINGLE-DIGIT RANGE

* NOW PROJECTING SALES IN HOSIERY AND UNDERWEAR CATEGORY TO BE DOWN APPROXIMATELY $125 MILLION FOR FULL YEAR

* FREE CASH FLOW FOR 2018 IS PROJECTED TO BE BETWEEN $400 TO $425 MILLION

* FY ADJUSTED EBITDA IS PROJECTED TO COME IN TOWARDS LOWER END OF PREVIOUS GUIDANCE RANGE

* GUIDANCE FOR CAPITAL EXPENDITURES REMAINS AT APPROXIMATELY $125 MILLION FOR 2018

* SEES Q4 ADJUSTED EPS OF $0.42 TO $0.44

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