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    Luke Hannan • Canaccord Genuity

    Luke Hannan's questions to Gildan Activewear Inc (GIL) leadership

    Luke Hannan's questions to Gildan Activewear Inc (GIL) leadership • Q2 2025

    Question

    Luke Hannan of Canaccord Genuity inquired about the key drivers for the full-year operating margin outlook, particularly concerning raw material costs, and asked if the significant contribution from new programs would extend into 2026.

    Answer

    EVP & CFO Luca Barile detailed that the 50 basis point operating margin accretion is driven by the Bangladesh facility ramp-up, yarn optimization, and network efficiencies, along with cost control. President & CEO Glenn Chamandy confirmed that Gildan has "very good visibility for 2026," suggesting that new programs will continue to be a significant growth driver.

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    Luke Hannan's questions to Gildan Activewear Inc (GIL) leadership • Q1 2025

    Question

    Luke Hannan of Canaccord Genuity Corp. requested more detail on the 2025 innovation pipeline, including product focus and cadence. He also asked if Gildan plans to establish its own yarn spinning facilities in Bangladesh to support its operations there.

    Answer

    President and CEO Glenn Chamandy noted that major product lines were already revamped in 2024. EVP and COO Chuck Ward highlighted upcoming innovations like 'plasma print technology' for direct-to-garment printing and new fabrications in Innerwear. Regarding Bangladesh, Glenn Chamandy clarified that Gildan already has a vested interest in its yarn spinning partners there, ships U.S. cotton to them, and is well-positioned from a tariff standpoint due to the high value of U.S. content.

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    Luke Hannan's questions to BRP Inc (DOOO) leadership

    Luke Hannan's questions to BRP Inc (DOOO) leadership • Q4 2025

    Question

    Luke Hannan inquired whether recent inventory challenges have changed the long-term approach to dealer inventory management and asked for the basis of the commentary on stable boat show trends.

    Answer

    CEO Jose Boisjoli confirmed that high interest rates have made dealers extremely sensitive to inventory levels, leading to more detailed ordering discussions, which he views as healthy for the industry. He clarified that the 'stable' boat show comment was based on dealer feedback being more consistently positive across North America this year, even if many consumers remain on the sidelines.

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    Luke Hannan's questions to BRP Inc (DOOO) leadership • Q2 2025

    Question

    Luke Hannan asked for an update on the mix of current versus non-current units retailed during the quarter, referencing a prior quarter's metric.

    Answer

    CFO Sebastien Martel confirmed that BRP was successful in retailing non-current units in Q2. He specified that at the end of the quarter, approximately 75% of the total network inventory was current. For the ORV segment specifically, inventory was 90% current at the end of July, which he described as a very good position.

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    Luke Hannan's questions to BRP Inc (DOOO) leadership • Q1 2025

    Question

    Luke Hannan of Canaccord Genuity asked how the projected 12-18 month inventory normalization timeline for the Marine business compares to past industry downturns. He also requested the working capital assumption within the maintained $750 million free cash flow guidance.

    Answer

    CEO Jose Boisjoli explained that the Marine industry correction is expected to take longer than a typical snowmobile downturn because the marine market is more fragmented with many smaller OEMs exhibiting different behaviors. CFO Sebastien Martel stated that the free cash flow guidance is supported by an expected working capital tailwind of about $100 million for the year, driven by the progressive reduction of high raw material safety stocks held since the pandemic.

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