Gildan: 2Q Earnings Snapshot
Posted July 30, 2020 7:45 am.
Last Updated July 30, 2020 7:54 am.
This article is more than 5 years old.
MONTREAL (AP) _ Gildan Activewear Inc. (GIL) on Thursday reported a second-quarter loss of $249.7 million, after reporting a profit in the same period a year earlier.
The Montreal-based company said it had a loss of $1.26 per share. Losses, adjusted for one-time gains and costs, were 99 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 29 cents per share.
The apparel maker posted revenue of $229.7 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $257.7 million.
Gildan shares have decreased 39% since the beginning of the year. The stock has decreased 55% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GIL at https://www.zacks.com/ap/GIL
The Associated Press
