07:51 AM EDT, 10/31/2024 (MT Newswires) -- Gildan Activewear ( GIL ) on Thursday said third-quarter adjusted profit rose and boosted its guidance for full-year revenue.

Profit adjusted to exclude most one-time items climbed to US$137.8 million, or US$0.85 per adjusted diluted share, from US$129.4 million, or US$0.74 per diluted share, in the year-ago quarter.

Net sales advanced 2.4% to US$891.1 million with higher sales volume driving activewear sales up 6% to US$788 million.

Gildan said it continues to see market share gains in key categories and a positive market response to its new products, including the soft cotton technology.

Gildan also updated its 2024 guidance, saying that revenue growth for the full year will be in the low-single digits, compared to the previous guidance of flat to low-single digits.

Adjusted diluted EPS is expected to be in the range of US$2.97 to US$3.02, up between 15.5% and 17.5% from last year, compared with previous guidance of US$2.92 to US$3.07.

The company will pay a quarterly dividend of US$0.205 on Dec. 16.

Gildan at last look is holding steady at US$48.37 in U.S. premarket trade.