MONTREAL — Shares of Gildan Activewear Inc. sank 25 per cent after it reported third-quarter results that it said fell short of expectations and cut its full-year guidance.
Shares in the company were down C$15.32 at C$45.12 in mid-morning trading on the Toronto Stock Exchange.
The Montreal-based clothing company, which keeps its books in U.S. dollars, says it earned US$259.4 million or US$1.40 per diluted share for its third quarter compared with a profit of US$120.2 million or 80 cents US per diluted share a year ago.
Net sales for the quarter totalled US$1.47 billion, up from US$910.6 million in the third quarter of 2025.
On an adjusted basis, Gildan says it earned US$1.54 per diluted share from continuing operations in its latest quarter, up from an adjusted profit of $1.00 per diluted share a year ago.
In its outlook for its full financial year, Gildan says it now expects revenue in the range of $5.4 billion to $5.5 billion, down from previous guidance for the low end of $6 billion to $6.2 billion. Adjusted diluted earnings per share are now expected in a range of $3.70 to $3.80, compared with earlier guidance for $4.65 to $4.75.
This report by The Canadian Press was first published Nov. 5, 2026.
