Birkenstock Holding (NYSE:) noticed its shares slide greater than 2% in Thursday’s premarket after the German shoemaker missed analysts’ expectations for Q3 earnings and income.
Particularly, the corporate posted third-quarter earnings per share (EPS) of $0.40, falling in need of consensus estimates of $0.52. Income was reported at $564.8 million, additionally barely beneath the anticipated $566.15 million.
Birkenstock’s Q3 gross revenue margin was 59.5%, down 220 foundation factors from 61.7% the earlier 12 months, primarily because of the short-term results of capability enlargement.
Adjusted EBITDA was reported at €186.3 million ($206.6 million), narrowly beating the estimate of €186.2 million.
“Our results for the third quarter of 2024 once again demonstrate the strength of our business model and our ability to achieve the growth and profitability goals we set out for you during our IPO and recent secondary offering roadshow,” mentioned Oliver Reichert, CEO of Birkenstock Group.
“We achieved the highest quarterly revenue in our history, driven by unbreakable and growing demand across all segments, channels and categories.”
For fiscal 2024, the corporate reaffirmed its steering, anticipating income development of roughly 19% on a reported foundation and 20% on a relentless forex foundation, with an Adjusted EBITDA margin between 30% and 30.5%.
It additionally reiterated its medium to long-term profitability targets, focusing on a gross revenue margin of round 60% and sustaining an adjusted EBITDA margin above 30%.
