Gildan Activewear Inc · Q1 2026 earnings

Briefing

Gildan Q1 2026: $1.17B sales (+64% on Hanes deal), GAAP loss $0.30 EPS; adjusted EPS $0.43

Gildan Activewear reported Q1 2026 net sales of $1.17 billion, up 63.8% year over year primarily from the HanesBrands acquisition completed in December 2025. GAAP diluted EPS from continuing operations was a loss of $0.30 versus earnings of $0.56 a year ago, reflecting $106 million of inventory fair value step-up costs, $61 million of restructuring and acquisition-related charges, and higher SG&A. On an adjusted basis, diluted EPS from continuing operations was $0.43 (down 27.1%), adjusted operating income was $167 million (up 23%), and adjusted EBITDA was $221 million (up 33%).

• Net sales reached $1.17 billion, up 63.8% YoY, in line with guidance of approximately $1.15 billion, driven by the HanesBrands acquisition.
• GAAP net loss from continuing operations was $55 million ($0.30 diluted EPS) versus $85 million net income ($0.56 EPS) in Q1 2025.
• Adjusted diluted EPS from continuing operations was $0.43, down 27.1% from $0.59; adjusted operating income rose 23% to $167 million.
• Adjusted EBITDA increased 33% to $221 million; adjusted gross margin expanded 180 bps to 33.0%.
• Wholesale channel sales were $552 million (down 11.9%) while retail channel sales were $614 million, reflecting the Hanes portfolio mix shift.

Headline financials

Revenue & EPS history

Gildan targets net debt leverage of 1.5–2.5x pro-forma adjusted EBITDA and continues integration of HanesBrands with planned capital expenditures over the next three years.