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

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.