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Adidas (DE:ADS1)
FRANKFURT:ADS1
Earnings Data
Report Date
Apr 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.28Last Year’s EPS
1.2Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive operational and financial recovery: broad-based revenue growth, sizable margin and profit expansion, product and brand momentum, improved leverage and active capital returns. However, material near-term headwinds (loss of YEEZY comparables, FX/translation effects, tariffs, promotional pressures, inventory/working capital and regional conflicts) temper the outlook. Management presented explicit FY26 guidance and a multi-year plan with clear mitigation paths, positioning the company as healthy and confident about future growth.Company Guidance
Strong adidas Brand Sales Growth
Adidas brand sales grew 13% currency-neutral in FY25 (17%/12%/12%/11% by quarter) and the total company grew 10% currency-neutral (reported +5%). Operational top-line growth for the adidas brand was approximately EUR 2.8 billion in FY25.
Material Profitability Improvement
Full-year operating profit (EBIT) reached EUR 2.056 billion, up 54% year-over-year. Q4 profit was ~EUR 164 million (nearly 3x prior year Q4). Net income rose 67% and basic EPS increased ~76%.
Gross Margin Recovery and Quality of Sales
Q4 gross margin was nearly 51% and the company highlighted full-year margin levels approaching ~52% (excluding YEEZY). Management emphasized disciplined pricing/discounting and improved product/mix as drivers of margin expansion.
Broad-Based Geographic Strength
Multiple regions showed double-digit growth: Greater China +13%, Japan & South Korea +14%, Latin America +22%, Emerging Markets +17%; North America and Europe each grew ~10% in FY25.
Category and Channel Momentum
Apparel grew 15% (outpacing footwear at 12%), Performance +15%, Lifestyle +12%, Running +29% full-year (Q4 +36%), Football +12%. D2C/wholesale mix stable at ~40/60; brick-and-mortar comped and e-commerce showed strong recovery.
Retail Expansion and Inventory Freshness
Opened 247 stores and closed 158 for ~+90 net store openings. Inventory reported up (see lowlights) but 72% of inventory was goods-on-hand (current season) and only ~7% not current-season (factory outlets), indicating recent replenishment rather than aged stock.
Improved Balance Sheet and Capital Returns
Net leverage improved from >3x to ~1.4x. Company proposed a 40% dividend increase to EUR 2.80 per share (payout ~36%) and announced a share buyback program up to EUR 1 billion for 2026 (first tranche EUR 500m; ~EUR 400m executed at time of call).
Mid-Term Growth Roadmap
Guidance for FY26: high single-digit adidas brand growth in local currencies and EBIT ~EUR 2.3 billion. Management reiterated a plan to add ~EUR 2 billion in revenue each year into 2027/28 with an objective of >10% EBIT by FY27/28 and mid-teens CAGR in operating profit.
Product & Brand Momentum
Notable product successes and innovation pipeline: adizero and Evo SL (Running), new Hyperboost foam (40% lighter than prior Boost), stronger apparel designs, momentum in football and basketball visibility, and successful lifestyle collaborations (e.g., Bad Bunny, Pharrell).
DE:ADS1 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DE:ADS1 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 04, 2026 | €74.00 | €70.00 | -5.41% |
Oct 29, 2025 | €92.50 | €92.50 | 0.00% |
Jul 30, 2025 | €97.50 | €87.00 | -10.77% |
Apr 29, 2025 | €107.31 | €107.31 | 0.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Adidas (DE:ADS1) report earnings?
Adidas (DE:ADS1) is schdueled to report earning on Apr 29, 2026, Before Open (Confirmed).
What is Adidas (DE:ADS1) earnings time?
Adidas (DE:ADS1) earnings time is at Apr 29, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Adidas stock?
The P/E ratio of Adidas is N/A.
What is DE:ADS1 EPS forecast?
DE:ADS1 EPS forecast for the fiscal quarter 2026 (Q1) is 1.28.
