Birkenstock Q3 Revenue Up 13%, Raises FY26 Constant-Currency Growth to 15%
BIRK sits 28% above its 52-week low of $31.12.
Summary
Birkenstock posted 13% revenue growth in Q3 FY2026 and raised its full-year constant-currency growth outlook to 15%, while completing a €230M buyback and €900M debt refinancing.
Key Events · Earnings and Guidance · BIRK
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Q3 Revenue Beats, Guidance Raised
Revenue grew 13% to €719.5M; constant-currency growth of 15% led management to raise FY26 constant-currency revenue growth forecast to 15% from 13-15%.
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Adjusted EBITDA Up 11%
Adjusted EBITDA rose to €242.5M with margin of 33.7%, down 70bps due to tariffs and FX, partly offset by capacity absorption.
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€230M Buyback Completed
Accelerated share repurchase completed June 29, 2026, retiring 6.0M shares; total cost €230M including €14.2M final settlement.
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€900M Debt Refinancing
Issued €900M 4.50% senior notes due 2033; redeemed €428.5M 5.25% notes, incurring €11.7M non-cash loss on derecognition.
Analysis · BIRK · Manufacturing
A strong fiscal third quarter saw revenue climb 13% to €719.5 million, with constant-currency growth of 15%, prompting management to lift its full-year constant-currency revenue growth forecast to 15% from a prior 13-15% range. Adjusted EBITDA rose 11% to €242.5 million, though reported net profit fell 15% due to non-cash charges from the accelerated share repurchase and senior notes refinancing. The quarter also included the completion of a €230 million buyback that retired 6 million shares, a €900 million debt refinancing that lowers interest costs, and the finalization of the Birkenstock Australia acquisition. Two governance items warrant attention: the resignation of director Alexandre Arnault and the lymphoma diagnosis of President Americas David Kahan, who plans to continue leading the segment during treatment.
At the time of this filing, BIRK was trading at $39.76 on NYSE in the Manufacturing sector, with a market capitalization of approximately $6.8B. The 52-week trading range was $31.12 to $53.53. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.