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Industry Talk

Delta Galil reports strong first quarter 2022

Company reaffirms full year 2022 earnings guidance reflecting double digit growth in sales and profitability.

17th May 2022

Knitting Industry
 |  Caesarea, Israel

Intimate Apparel

Delta Galil Industries, Ltd. the global manufacturer and marketer of branded and private label intimate, activewear, loungewear and denim apparel, has reported a strong start to 2022 with record financial results for the first quarter ended 31 March 2022.

Q1 sales reached record levels for the fifth consecutive quarter, increasing 16% to $483.9 million, from $416.1 million in Q1 2021. Operating margin reached record levels for the seventh consecutive quarter, increasing 40 basis points to 7.1%, from 6.7 % in Q1 2021.

Net income reached record levels as well, up 26% to $18.9 million, compared to $15.1 million in Q1 2021.

Isaac Dabah, CEO of Delta Galil, commented on the company’s latest results: “We are pleased with our strong first quarter results, which marked five consecutive quarters of record quarter revenue and seven consecutive quarters of record quarter operating margins. We delivered record quarterly EBIT and net income, driven by higher sales across all geographic regions, successful execution of our innovation-driven growth strategy, and benefits from operating leverage. We maintained strong gross margins despite rising freight and production costs. Looking ahead, our profitable growth trajectory, strong balance sheet and global workforce position us to meet our customers’ growing demands, while effectively managing our cost structure.”

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