Birkenstock Delivers Strong Q1 Results but Stock Slips 3% on Unchanged 2025 Outlook

Birkenstock (NYSE:BIRK) surged nearly 6% on Thursday after reporting a stronger-than-expected second quarter and boosting its full-year profit outlook, signaling continued momentum for the iconic footwear brand.

The company posted earnings per share of €0.56, edging past the €0.54 consensus. Revenue climbed 19% year-over-year to €574.3 million, exceeding forecasts of €567.2 million. Strong operational performance also pushed operating profit up 32% to €175.3 million, ahead of the €160.5 million estimate.

Adjusted EBITDA grew 23% to €200.1 million, while gross margin expanded to 57.7%, topping both last year’s level and analyst expectations. Building on this solid performance, Birkenstock raised its full-year guidance. It now anticipates revenue growth at the high end of its previous 15%–17% range on a constant currency basis. The company also upgraded its adjusted EBITDA margin outlook to between 31.3% and 31.8%, up from 30.8%–31.3%, and sees full-year adjusted EBITDA reaching €660–€670 million—above the €657.2 million consensus.

Birkenstock (NYSE:BIRK) posted better-than-expected first-quarter earnings and revenue, but its shares dipped nearly 3% intra-day today, as investors reacted to the company maintaining its full-year 2025 guidance instead of raising expectations.

For Q1, the German footwear brand reported earnings per share of 0.18 euros, surpassing analyst forecasts of 0.16 euros. Revenue reached 361.7 million euros, exceeding the 355.39 million euro estimate.

Profitability remained strong, with adjusted EBITDA climbing 25% year-over-year to 102.1 million euros, well above the 91 million euros analysts projected. Operating profit surged 80% from the prior year to 64.0 million euros, though it came in slightly below the 66.5 million euro estimate.

The company's gross profit margin stood at 60.3%, down from 61% a year earlier, but slightly ahead of the 60.1% forecast. Despite the strong quarter, Birkenstock reiterated its fiscal 2025 guidance, expecting an adjusted EBITDA margin between 30.8% and 31.3%, aligning closely with the 31.1% consensus. It also maintained its revenue growth forecast of 15% to 17% at constant currency.

Birkenstock Holding (NYSE:BIRK) saw its shares surge by 11% in pre-market today after the shoemaker reported Q2 earnings and revenue that exceeded analyst expectations and raised its full-year guidance.

The company reported earnings per share (EPS) of EUR 0.38 for the quarter, surpassing the analyst estimates of EUR 0.35. Revenue increased to EUR 481.2 million, beating the consensus projection of EUR 465.4 million. Birkenstock's adjusted EBITDA was EUR 162.3 million, exceeding the EUR 145.8 million expected by analysts.

The company updated its fiscal 2024 revenue forecast to EUR 1.77-1.78 billion, compared to the consensus estimate of EUR 1.75 billion. This new forecast represents a year-over-year growth of 20%, up from the previous guidance range of 17%-18%.

Additionally, Birkenstock now expects 2024 adjusted EBITDA to be between EUR 535 million and EUR 545 million, an increase from the prior guidance of EUR 520 million to EUR 530 million.

The company also reaffirmed its medium to long-term profitability goals, targeting a gross profit margin of around 60% and an adjusted EBITDA margin exceeding 30%.

Birkenstock Holding (NYSE:BIRK) reported fiscal first-quarter revenue and adjusted EBITDA that exceeded expectations, affirming its 2024 forecast. However, the company’s shares dropped more than 6% intra-day today.

The company disclosed a per-share loss of $0.04 for the quarter, with revenue reaching $302.9 million, marking a 26% increase from the previous year and exceeding the $288.2 million forecast.

The company highlighted a 30% growth in direct-to-consumer (DTC) sales on a constant currency basis, raising DTC's revenue share by 100 basis points to 53%. Additionally, there was a 22% increase in business-to-business (B2B) revenue, also on a constant currency basis.

Birkenstock Holding (NYSE:BIRK) reported fiscal first-quarter revenue and adjusted EBITDA that exceeded expectations, affirming its 2024 forecast. However, the company’s shares dropped more than 6% intra-day today.

The company disclosed a per-share loss of $0.04 for the quarter, with revenue reaching $302.9 million, marking a 26% increase from the previous year and exceeding the $288.2 million forecast.

The company highlighted a 30% growth in direct-to-consumer (DTC) sales on a constant currency basis, raising DTC's revenue share by 100 basis points to 53%. Additionally, there was a 22% increase in business-to-business (B2B) revenue, also on a constant currency basis.