Birkenstock CEO Says Well-Positioned To Navigate Tariffs, Reaffirms Outlook
The company reported third-quarter adjusted earnings per share of 70 cents, beating the analyst consensus estimate of 67 cents.
Quarterly sales of $720.12 million missed the Street view of $739.49 million.'Reported revenue growth was 12%. On a constant currency basis, we grew revenue by 16%, with double-digit growth in all regions. Underlying demand remains strong and we are on track to meet our target of constant currency growth at the high end of the 15-17% range we provided at the beginning of the year,' said CEO Oliver Reichert.
In Euros, revenue totaled 635 million euros, an increase of 12% on a reported basis and 16% in constant currency.
Revenue grew double digits across all segments, rising 10% in the Americas, 13% in EMEA, and 21% in APAC on a reported basis. In constant currency, growth was 16% in the Americas, 13% in EMEA, and 24% in APAC.
View more earnings on BIRK
Gross profit margin was 60.5%, up 100 basis points from 59.5% a year ago. The increase was driven by price adjustments and improved manufacturing capacity absorption, partially offset by unfavorable currency translation and channel mix.
The firm reported adjusted EBITDA of 218 million euros, up 17% year-over-year. Adjusted EBITDA margin totaled 34.4%, up 140 basis points from 33.0% a year ago.
'We believe we are well-positioned to manage the impact of the current 15% US/EU tariff agreement through a combination of pricing adjustment, cost discipline and inventory management to protect the long-term health and profitability of the Birkenstock brand,' the CEO added.
The company exited the quarter with cash and equivalents worth 261.834 million euros.
During the company's conference call, Birkenstock CEO reportedly said the July 1 price increases in the U.S. were met with no pushback or order cancellations from retailers, signaling strong retailer acceptance despite higher prices.
Outlook
Birkenstock Holding reaffirmed its fiscal year 2025 sales guidance at $2.254 billion.
In fiscal year 2025, the company expects an adjusted EBITDA margin of 31.3% to 31.8%, despite a significantly weaker US dollar.
Price Action: BIRK shares are trading lower by 3.40% to $48.52 at last check Thursday.
Read Next:Photo by Josh Forden via Shutterstock
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This article Birkenstock CEO Says Well-Positioned To Navigate Tariffs, Reaffirms Outlook originally appeared on Benzinga.com
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