The following is a summary of the Gildan Activewear (GIL) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Gildan reported record Q3 sales of $891 million, an increase of 2.4% year over year.

• Adjusted operating margins increased to 22.4%, up 430 basis points year over year.

• Adjusted diluted EPS rose to $0.85, representing a 15% increase year over year.

• Returned $404 million in capital to shareholders this quarter with a total of $643 million year-to-date.

Business Progress:

• Continued advancements under the Gildan Sustainable Growth strategy, driving capacity expansion, innovation, and ESG initiatives.

• Operational ramp-up in Bangladesh set to support long-term growth, particularly for ring spun products.

• New product developments such as soft pump technology for comfort, MVS technology for fleece, and plasma technology for better screen printing.

Opportunities:

• Expansion in international markets, specifically in Europe, with sales increasing by 20%.

• Strong financial position and significant free cash flow allowing for continued share repurchases.

Risks:

• Phasing out of the Under Armour license agreement impacts underlying sales in the Hosiery and Underwear segments.

• Mixed macroeconomic conditions create uncertainty for future market conditions.

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