07:28 AM EDT, 10/29/2025 (MT Newswires) -- Gildan Activewear ( GIL ) said Wednesday that third-quarter adjusted net earnings and net sales both advanced. The company also updated its guidance for the year.

Adjusted net income rose 8.1% to US$148.8 million, or a record $1 per adjusted diluted share, from $137.7 million, or $0.85 in the prior year period. The result beat the consensus analyst estimate of $0.98 per share, according to FactSet.

Net sales rose 2.2% to $910.6 million, over the same period, but missed the $914.8 million forecast.

Gildan also updated its fiscal 2025 guidance and now expects adjusted diluted earnings per share to range between $3.45 to $3.51, up 15% and 17% year over year, compared with previous guidance of $3.40 to $3.56.

Free cash flow guidance has been lowered to $400 million, from previous guidance of above $450 million.

Gildan also confirmed there would be no share repurchases for the remainder of 2025, due to the proposed HanesBrands acquisition. The transaction is expected to close later this year or early 2026.

The company will pay a regular quarterly dividend of $0.226 per share on Dec. 15.

Gildan shares are down 1.4% to $60.40, in U.S. pre-market trading.