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Factors to Influence Gildan Activewear (GIL) in Q1 Earnings

Gildan Activewear Inc. GIL is likely to register top and bottom-line declines from the year-ago quarter’s reported figures when it reports first-quarter 2023 earnings on May 3, before market open. The Zacks Consensus Estimate for quarterly sales is pegged at $720.5 million, indicating a 7% decrease from the prior-year quarter’s reported figure.

The Zacks Consensus Estimate for first-quarter earnings is pegged at 52 cents, suggesting a 31.6% decline from the year-earlier quarter’s reading. The consensus mark has declined by 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 16.5%, on average.

Gildan Activewear, Inc. Price and EPS Surprise

Gildan Activewear, Inc. price-eps-surprise | Gildan Activewear, Inc. Quote

Key Factors to Note

Gildan Activewear’s quarterly performance is likely to have gained from improved product availability and strong market share stemming from strong sell-through of ring spun and fleece products. It has been witnessing improvement in the international markets due to positive sell-through trends in certain regions and healthy inventory.

Also, higher year-over-year shipments in international markets, driven by replenished inventory levels in Europe, bode well. These tailwinds are likely to have contributed to its performance in the quarter under review.

On the flip side, a sluggish demand environment, particularly in men's underwear and hosiery, is anticipated to have dented the first-quarter performance. Also, higher raw material and manufacturing costs are expected to have hurt margins in the quarter under review.

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for Gildan Activewear this season. 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. But that’s not 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 -4.46%.

Stocks Poised to Beat Earnings Estimates

Here are some companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat:

Boyd Gaming BYD currently has an Earnings ESP of +0.30% and a Zacks Rank #2. BYD is likely to register bottom and top-line growth when it reports first-quarter fiscal 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $878.7 billion, suggesting 2.1% growth from the figure reported in the prior-year quarter.

You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Boyd Gaming’s fiscal first-quarter earnings is pegged at $1.47, suggesting 5% growth from the $1.40 reported in the year-ago quarter. The consensus mark has been unchanged in the past 30 days.

Marriott International MAR currently has an Earnings ESP of +3.04% and a Zacks Rank #2. MAR is likely to register top-line growth when it reports first-quarter 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $5.3 billion, suggesting 25.6% growth from the figure reported in the prior-year quarter.

The Zacks Consensus Estimate for Marriott International’s fiscal first-quarter earnings is pegged at $1.85, suggesting 48% growth from the $1.25 reported in the year-ago quarter. The consensus mark has been unchanged in the past 30 days.

Hyatt Hotels H currently has an Earnings ESP of +56.57% and a Zacks Rank #3. LVS is likely to register bottom and top-line growth when it reports first-quarter 2023. The Zacks Consensus Estimate for its quarterly revenues is pegged at $1.6 billion, suggesting 24.8% growth from the figure reported in the prior-year quarter.

The Zacks Consensus Estimate for Hyatt Hotels’ fiscal first-quarter earnings is pegged at 47 cents, suggesting a 242.4% improvement from a loss of 33 cents reported in the year-ago quarter. The consensus mark has been unchanged in the past 30 days.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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