Gildan Activewear cuts FY‑2026 outlook after Q3 sales miss and withdraws long‑term targets
Gildan Activewear reported third‑quarter 2026 net sales of $1.47 billion, a 61.1 % increase year‑over‑year but below its $1.65 billion guidance. Adjusted earnings per share rose to $1.54. The company lowered its full‑year revenue forecast to $5.4‑$5.5 billion and adjusted EPS to $3.70‑$3.80, and it abandoned the 2026‑2028 financial objectives. It also completed the sale of its HanesBrands Australia unit for roughly $490 million and approved a share‑repurchase program for up to 5 % of outstanding shares.
Why it matters
The reduced revenue and earnings guidance signals lower near‑term growth, which may pressure the stock price and affect analysts' target models (TD Cowen cut its price target to $49). The share‑repurchase authorization could provide some support to shareholders, while the cash proceeds from the HanesBrands Australia sale will be used to repay debt.
Key facts
- 1Third‑quarter 2026 net sales from continuing operations were $1.47 billion, up 61.1 % from the prior year. stocktitan.net
- 2Adjusted diluted EPS for the quarter was $1.54, a 54.0 % increase year‑over‑year. stocktitan.net
- 3Full‑year 2026 revenue guidance was revised to a range of $5.4 billion to $5.5 billion. stocktitan.net
- 4Adjusted diluted EPS guidance for 2026 was set to $3.70‑$3.80 per share. stocktitan.net
- 5The company withdrew its previously communicated 2026‑2028 financial objectives. stocktitan.net
- 6Sale of HanesBrands Australia was completed on October 26 2026 for approximately $490 million. finance.yahoo.com
Summary written by AlphAI AI Desk from 18 of 18 sources. Not investment advice. Figures are as stated by the linked sources.