Gildan Activewear (US:GIL) ZACKSยท2024-10-31 12:56Core Insights - Gildan Activewear reported quarterly earnings of $0.85 per share, exceeding the Zacks Consensus Estimate of $0.84 per share, and up from $0.74 per share a year ago, representing an earnings surprise of 1.19% [1] - The company achieved revenues of $891.1 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.01% and increasing from $869.9 million year-over-year [2] - Gildan's stock has increased approximately 46.3% year-to-date, significantly outperforming the S&P 500's gain of 21.9% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.82 on revenues of $800.35 million, and for the current fiscal year, it is $2.93 on revenues of $3.24 billion [7] - The estimate revisions trend for Gildan is favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Textile - Apparel industry, to which Gildan belongs, is currently ranked in the bottom 35% of over 250 Zacks industries, suggesting potential challenges ahead [8] - The performance of Gildan's stock may be influenced by the overall outlook for the industry, as historical data shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]