OTTAWA (dpa-AFX) - Gildan Activewear Inc. (GIL.TO), a Canadian-based manufacturer and seller of various apparel products, on Thursday reported loss in the first quarter of 2026 compared to earnings in the previous year due to higher SG&A expenses and financing costs related to the HanesBrands acquisition, along with proactive inventory reduction and integration-related charges.
The company reiterates its full year 2026 outlook.
For the first quarter, net loss came in at $55.1 million compared with $84.7 million in the previous year.
Loss per share was down 153.6 percent at $0.30 versus $0.56 last year.
Adjusted net income declined 10.9 percent to $80.1 million from $89.8 million in the previous year.
Adjusted earnings per share were $0.43 versus $0.59 last year.
Operating loss came in at $1.3 million compared with income of $129.6 million in the prior year.
However, adjusted operating income increased to $166.8 million from $135.5 million in the previous year.
Adjusted EBITDA rose to $221.1 million from $165.8 million in the prior year.
Net sales increased 63.8 percent to $1.17 billion from $711.7 million in the previous year.
Further, the Board declared a cash dividend of $0.249 per share, payable on June 15, to shareholders of record as of May 20.
Looking ahead, the company maintains revenue at expecting $6 billion to $6.2 billion range in the full-year 2026.
Adjusted earnings per share is expected to range between $4.20 to $4.40 for the full year 2026.
On Wednesday, Gildan Activewear closed trading 2.83% lesser at C$76.97 on the Toronto Stock Exchange.
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