Q: Can you comment on GIL quarterly update?
5i Research Answer:
EPS of 74c beat estimates of 71c; revenue of $869M beat estimates by 3%. GIL actually lowered guidance but the stock rose anyway as the degree of adjustment was less than expected. RBC raised its target. EPS is now expected at the low end of the prior $2.55 to $2.65 range. Margins dipped, but this is a case of 'investors were expecting worse' and the stock has staged a very nice rally this week.