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How Gildan Activewear (GIL) is Placed Ahead of Q3 Earnings
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Gildan Activewear Inc. (GIL - Free Report) is likely to register top and bottom-line growth from the year-ago quarter’s reported figures when it reports third-quarter 2022 earnings on Nov 3, before market open. The Zacks Consensus Estimate for quarterly sales currently stands at $835 million, indicating a 4.1% increase from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 81 cents, suggesting a 1.3% rise from the year-earlier quarter’s reading. The consensus mark has increased a penny in the past 30 days.
A glance at GIL’s performance in the last four quarters reflects that it delivered an earnings surprise of 33.8%, on average.
Key Factors to Note
Gildan Activewear’s quarterly performance might have gained from the ongoing benefits of its back-to-basics initiative and solid execution of the Gildan sustainable growth strategy. Management continues to efficiently control its supply-chain and cost structure, given the macroeconomic uncertainty. GIL is also reinforcing its presence in the international markets. These tailwinds, innovation efforts and market share gains across key categories are likely to have contributed to its performance in the quarter under review.
On the flip side, a tough operating backdrop, including the supply-chain bottlenecks and inflationary pressures, remains a concern. These factors and any deleverage in SG&A and raw material costs might have been added deterrents.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Gildan Activewear this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is precisely the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Gildan Activewear currently has a Zacks Rank #3 and an Earnings ESP of +1.24%.
More Stocks With Favorable Combination
Here are a few other companies worth considering, as our model shows that these too have the right combination of elements to beat on earnings this season:
lululemon athletica (LULU - Free Report) currently has an Earnings ESP of +1.50% and a Zacks Rank #2. LULU is likely to register an increased bottom line when it reports third-quarter fiscal 2022 results. The Zacks Consensus Estimate for quarterly earnings has been stable at $1.95 per share over the past 30 days, suggesting 20.4% growth from the year-ago quarter’s reported number. You can see the complete list of today’s Zacks #1 Rank stocks here.
lululemon athletica’s top line is expected to rise from the prior-year quarter’s reported number. The Zacks Consensus Estimate for quarterly revenues is pegged at $1.80 billion, suggesting a 24.4% rise from the figure reported in the prior-year quarter. LULU delivered an earnings beat of 10.4%, on average, in the trailing four quarters.
Ralph Lauren (RL - Free Report) currently has an Earnings ESP of +0.08% and a Zacks Rank #3. RL is anticipated to register top-line growth from the year-ago quarter’s reading when it reports second-quarter fiscal 2023 results. The Zacks Consensus Estimate for quarterly revenues is pegged at $1.6 billion, indicating an improvement of 3.7% from the figure reported in the prior-year quarter.
However, the Zacks Consensus Estimate for Ralph Lauren’s earnings of $2.07 per share has been stable in the past 30 days. The consensus estimate suggests a 21% decline from $2.62 reported in the year-ago quarter. RL delivered an earnings beat of 34.9%, on average, in the trailing four quarters.
Costco (COST - Free Report) currently has an Earnings ESP of +0.17% and a Zacks Rank of 3. COST is expected to register top and bottom-line growth from the respective prior-year period’s actuals when it reports first-quarter fiscal 2023 numbers. The Zacks Consensus Estimate for COST’s quarterly revenues is pegged at $54.98 billion, suggesting growth of 9.2% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for Costco’s quarterly earnings has been stable in the past 30 days at $3.15 a share. The consensus estimate for earnings suggests 6.1% growth from the year-ago quarter’s reported number. COST delivered an earnings beat of 7.7%, on average, in the trailing four quarters.
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How Gildan Activewear (GIL) is Placed Ahead of Q3 Earnings
Gildan Activewear Inc. (GIL - Free Report) is likely to register top and bottom-line growth from the year-ago quarter’s reported figures when it reports third-quarter 2022 earnings on Nov 3, before market open. The Zacks Consensus Estimate for quarterly sales currently stands at $835 million, indicating a 4.1% increase from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 81 cents, suggesting a 1.3% rise from the year-earlier quarter’s reading. The consensus mark has increased a penny in the past 30 days.
A glance at GIL’s performance in the last four quarters reflects that it delivered an earnings surprise of 33.8%, on average.
Key Factors to Note
Gildan Activewear’s quarterly performance might have gained from the ongoing benefits of its back-to-basics initiative and solid execution of the Gildan sustainable growth strategy. Management continues to efficiently control its supply-chain and cost structure, given the macroeconomic uncertainty. GIL is also reinforcing its presence in the international markets. These tailwinds, innovation efforts and market share gains across key categories are likely to have contributed to its performance in the quarter under review.
On the flip side, a tough operating backdrop, including the supply-chain bottlenecks and inflationary pressures, remains a concern. These factors and any deleverage in SG&A and raw material costs might have been added deterrents.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Gildan Activewear this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is precisely the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Gildan Activewear currently has a Zacks Rank #3 and an Earnings ESP of +1.24%.
More Stocks With Favorable Combination
Here are a few other companies worth considering, as our model shows that these too have the right combination of elements to beat on earnings this season:
lululemon athletica (LULU - Free Report) currently has an Earnings ESP of +1.50% and a Zacks Rank #2. LULU is likely to register an increased bottom line when it reports third-quarter fiscal 2022 results. The Zacks Consensus Estimate for quarterly earnings has been stable at $1.95 per share over the past 30 days, suggesting 20.4% growth from the year-ago quarter’s reported number. You can see the complete list of today’s Zacks #1 Rank stocks here.
lululemon athletica’s top line is expected to rise from the prior-year quarter’s reported number. The Zacks Consensus Estimate for quarterly revenues is pegged at $1.80 billion, suggesting a 24.4% rise from the figure reported in the prior-year quarter. LULU delivered an earnings beat of 10.4%, on average, in the trailing four quarters.
Ralph Lauren (RL - Free Report) currently has an Earnings ESP of +0.08% and a Zacks Rank #3. RL is anticipated to register top-line growth from the year-ago quarter’s reading when it reports second-quarter fiscal 2023 results. The Zacks Consensus Estimate for quarterly revenues is pegged at $1.6 billion, indicating an improvement of 3.7% from the figure reported in the prior-year quarter.
However, the Zacks Consensus Estimate for Ralph Lauren’s earnings of $2.07 per share has been stable in the past 30 days. The consensus estimate suggests a 21% decline from $2.62 reported in the year-ago quarter. RL delivered an earnings beat of 34.9%, on average, in the trailing four quarters.
Costco (COST - Free Report) currently has an Earnings ESP of +0.17% and a Zacks Rank of 3. COST is expected to register top and bottom-line growth from the respective prior-year period’s actuals when it reports first-quarter fiscal 2023 numbers. The Zacks Consensus Estimate for COST’s quarterly revenues is pegged at $54.98 billion, suggesting growth of 9.2% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for Costco’s quarterly earnings has been stable in the past 30 days at $3.15 a share. The consensus estimate for earnings suggests 6.1% growth from the year-ago quarter’s reported number. COST delivered an earnings beat of 7.7%, on average, in the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.