Gildan Activewear Inc. cut the upper end of its 2026 revenue outlook by US$700 million after its third-quarter revenue and non-GAAP earnings per share missed estimates.
For 2026, Gildan now expects US$5.4 billion to US$5.5 billion in revenue, down from US$6 billion to US$6.2 billion; the range's high end fell by US$700 million. Its 2026 target for adjusted diluted earnings per share is US$3.70 to US$3.80, compared with the earlier US$4.65 to US$4.75 range.
At US$1.47 billion, third-quarter revenue came in US$150 million below estimates despite rising 61.4% from a year earlier. The non-GAAP earnings-per-share figure was US$1.54, missing estimates by US$0.05. The quarter ended Sept. 27, and Gildan had guided for about US$1.65 billion in revenue from continuing operations.
Gildan also withdrew its 2026-2028 objectives. EconoTimes previously reported an 18.86% decline in Gildan shares to C$49.04 amid a broader Toronto market decline.
