Gildan Activewear Inc

GIL: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 74.60	Lzw	Frxjwnd

Gildan Earnings: Strategic Plans Progressing Despite Soft Start to Year; Shares Fairly Valued

David Swartz

May 4, 2023

Gildan’s 2023 first-quarter sales and earnings fell slightly short of our estimates, but management attributed this to the timing of orders for (higher-margin) fleece and reiterated its full-year guidance. Thus, we anticipate sales growth and margin improvement as the year progresses and do not expect to make any material changes to our fair value estimates of $31.50/CAD 43.00 per share, both of which are close to market levels at present.

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