Birkenstock Q3 2026 earnings: Revenue growth accelerates, guidance raised
Birkenstock's fiscal Q3 2026 sales grew strongly on direct-to-consumer demand, and the company raised its full-year outlook, even though quarterly profit and revenue came in fractionally below Wall Street's marks.
| Q3 2026 | Reported | Expected | Surprise |
|---|---|---|---|
| EPS | $0.75 | $0.77 | -3.5% |
| Revenue | $725.1M | $727.6M | -0.3% |
Key takeaways
- Adjusted earnings per share and revenue both landed just shy of analyst estimates for the quarter, a modest miss after a stretch of larger beats, though the shortfall was small in percentage terms.
- Sales growth accelerated versus recent quarters, with direct-to-consumer (sales through Birkenstock’s own stores and website) growing faster than its wholesale business, as the company opened 13 new retail stores during the quarter, bringing its total to 124.
- Growth was broad-based across regions: the Americas, Europe/Middle East/Africa and Asia-Pacific all posted double-digit gains, with Asia-Pacific the fastest-growing area.
- Management raised its full-year revenue growth forecast to about 15% on a constant-currency basis (stripping out the effect of exchange-rate swings), up from its earlier 13%-to-15% range, and lifted its adjusted profitability (EBITDA) target to at least €710 million.
- The company kept its full-year per-share profit forecast unchanged at €1.90 to €2.05, suggesting management sees the extra sales largely reinvested rather than all flowing straight to the bottom line.
- Trailing-twelve-month margins remain high for an apparel/footwear maker, with a gross margin above 57% and an operating margin near 25%, meaning Birkenstock keeps a large share of each sale after production and operating costs before tax and financing effects.
- Earnings per share over the past year grew more than 40%, well ahead of the roughly 11-12% pace of revenue growth over the same period, indicating profit has been expanding faster than sales.
- The company completed a €230 million accelerated share buyback that reduced shares outstanding by about 6 million, which mechanically boosts per-share profit figures going forward by spreading earnings over fewer shares.
- CEO Oliver Reichert said the company “performed exceptionally well” in the quarter and pointed to accelerating direct-to-consumer growth, crediting continued investment in owned stores and digital sales; he also emphasized the brand’s demand base spans a wide range of ages, incomes and geographies.
- Shares rose on the results, reflecting investor focus on the accelerating demand and raised outlook despite the narrow miss on the quarter’s headline profit and revenue figures.
How the stock took it
Birkenstock Holding PLC closed at $36.74 on Aug 12, 2026, the last session before the report, and at $39.35 on Aug 14, 2026, the first session after it — +7.1% across the report.
Closes from the market's daily record. Each figure spans the report date — from the last session that closed before it to the first that closed after — because a company may report before the open or after the close.
Fundamentals
| Metric | Value | Period |
|---|---|---|
| Gross margin | 57.3% | Trailing 12 months |
| Operating margin | 24.9% | Trailing 12 months |
| Net profit margin | 16.3% | Trailing 12 months |
| Pretax margin | 21.6% | Trailing 12 months |
| EPS | $1.92 | Trailing 12 months |
| Revenue growth (YoY) | 11.5% | Trailing 12 months |
| EPS growth (YoY) | 43.2% | Trailing 12 months |
| Return on equity | 12.9% | Trailing 12 months |
Sources: company report · earnings call · Bloomberg