Birkenstock Q2 Revenue Rises 14% Constant FX While EPS Drops 20%, Shares Slide 11%
BIRK•Birkenstock reported Q2 revenue of €618 m, up 8% reported and 14% in constant currency across all segments. Net profit fell 22% to €82 m with EPS of €0.45, gross margin dipped 380 bps and shares slid 11% premarket after profit and sales misses.
1. Strong Q2 Revenue Growth Across All Regions
Birkenstock delivered Q2 revenue of €618 million, marking an 8% increase on a reported basis and a 14% uplift in constant currency. All segments achieved double-digit constant-currency growth, including 14% in the Americas, 11% in EMEA and 30% in APAC.
2. Profit Decline and Margin Pressure from Tariffs and FX
Net profit declined 22% to €82 million with EPS of €0.45, while gross profit margin contracted by 380 basis points to 53.9%. The margin decline was driven by unfavorable currency translation, incremental U.S. tariffs and channel mix, partially offset by sales price adjustments and improved capacity absorption.
3. Market Reaction and Guidance Confirmation
Shares plunged 11% in premarket trading following profit and sales misses, as management flagged a hit from Middle East conflicts on demand. The company confirmed full-year targets of 13-15% constant-currency revenue growth, a 57.0-57.5% adjusted gross margin and adjusted EPS of €1.90-2.05.
