Gildan: 2Q Earnings Snapshot

·1 min read

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