Gildan Activewear (NYSE: GIL) reported Q2 EPS of $0.49, $0.01 better than the analyst estimate of $0.48. Revenue for the quarter came in at $715.4 million versus the consensus estimate of $752.03 million.

Outlook

The Company updated its full year financial guidance for 2017, which it initiated in February this year. Given the Company's performance in the first half of the year, adjusted diluted EPS is now expected to be at the high end of the $1.60-$1.70 range, on projected consolidated and segmented net sales growth which remains in the high-single-digit range. As projected when the Company initiated its 2017 guidance, earnings growth was strong during the first half of 2017, while earnings in the second half of the year will reflect the anniversary of the Alstyle and Peds acquisitions and headwinds from higher raw material costs. The Company also updated its expectations for adjusted EBITDA for 2017 and now anticipates adjusted EBITDA at the high-end of its previous guidance range of $555-$585 million. Capital expenditures for the year are currently projected to come in at approximately $100 million compared to the Company's initial expectation of $125 million and total free cash flow is expected to be in excess of $425 million, up from in excess of $400 million.

For earnings history and earnings-related data on Gildan Activewear (GIL) click here.