Adidas AG ( (ADDYY) ) has realeased its Q3 earnings. Here is a breakdown of the information Adidas AG presented to its investors.
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Adidas AG is a leading global sportswear manufacturer, known for its innovative designs and strong brand presence in both lifestyle and performance segments across various markets.
The third quarter of 2024 has proven to be robust for Adidas, with a notable 10% increase in currency-neutral sales, primarily driven by a 14% growth in the Adidas brand. The company’s strategic advancements and market expansions have been pivotal in achieving these impressive results.
Adidas reported a gross margin improvement to 51.3%, overcoming currency challenges. Operating profit rose to €598 million from €409 million, with net income reaching €469 million, equating to earnings per share of €2.44. The growth in Lifestyle and Performance sectors underscores the brand’s momentum, supported by a healthy inventory level of €4.5 billion. Despite a decline in North American sales due to reduced Yeezy inventory, the company saw double-digit growth in other regions, notably Europe and Latin America.
With a strong performance in the third quarter, Adidas has revised its full-year guidance upwards, anticipating a 10% increase in currency-neutral revenues for 2024. The company’s focus on expanding its brand appeal and maintaining growth across markets positions it well for future success.
