Adidas reported a strong financial performance for Q1 2025, with significant sales growth and improved profitability. The company achieved notable successes in product launches and regional market growth, particularly in emerging markets and Latin America. However, uncertainty surrounding U.S. tariffs poses a potential challenge to maintaining margins, and the decrease in e-commerce sales highlights the impact of lost YEEZY sales. Overall, the positive highlights significantly outweigh the lowlights, indicating a robust start to the fiscal year.

Company Guidance

In the adidas AG Q1 2025 Conference Call, the company reported strong financial metrics, highlighted by a 13% increase in net sales currency-neutral, and a noteworthy 17% growth excluding YEEZY. The gross profit margin improved over 52%, with the adidas brand showing a 160 basis point increase. Operating profit reached €610 million, nearly a 10% EBIT margin, reflecting a 400 basis point enhancement. The call emphasized regional growth, with Europe and Greater China up 16% and 14% respectively, while Latin America surged by 27%. North America saw a 13% rise in the adidas brand despite the absence of YEEZY sales. The company also spotlighted its strategic focus on local market execution, performance in key categories, and the ongoing impact of U.S. tariffs, maintaining its full-year guidance despite these challenges.

Strong Q1 2025 Financial Performance

Adidas reported a currency-neutral net sales increase of 13%, with the Adidas brand specifically seeing a 17% increase when excluding YEEZY. Gross profit margins improved by 90 basis points to over 52%. Operating profit (EBIT) reached €610 million, a nearly 400 basis point improvement, translating to a 9.9% operating margin.

Regional Growth Success

All markets showed growth, with North America up 13% for the Adidas brand, Europe up 16%, Greater China up 14%, and Latin America up 27%. Emerging markets also grew by 25%.

Apparel and Footwear Performance

Footwear sales grew by 17%, apparel approached double-digit growth, and accessories increased by 10%. The division is seeing increased consumer demand, particularly in lifestyle and performance categories.

Successful Product Launches and Brand Heat

Adidas experienced strong consumer demand for new products, including collaborations and limited editions. The brand's visibility in sports and lifestyle markets has increased, contributing to a successful quarter.

Adidas (ADDYY) Earnings, Revenues Date & History

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ADDYY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 29, 2025	2025 (Q3)	1.51 / -	1.317	―	―	―
Jul 30, 2025	2025 (Q2)	1.13 / 1.17	0.59	97.46% (+0.58)
Apr 29, 2025	2025 (Q1)	1.15 / 1.39	0.513	170.76% (+0.88)
Mar 05, 2025	2024 (Q4)	-0.13 / -0.14	-1.291	89.16% (+1.15)
Oct 29, 2024	2024 (Q3)	1.00 / 1.32	0.749	75.83% (+0.57)
Jul 31, 2024	2024 (Q2)	0.53 / 0.59	0.262	125.19% (+0.33)
Apr 30, 2024	2024 (Q1)	0.59 / 0.51	-0.099	618.18% (+0.61)
Mar 13, 2024	2023 (Q4)	-0.99 / -1.29	-1.48	12.77% (+0.19)
Nov 08, 2023	2023 (Q3)	0.48 / 0.75	0.17	340.59% (+0.58)
Aug 03, 2023	2023 (Q2)	-0.13 / 0.26	0.96	-72.71% (-0.70)

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

ADDYY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 30, 2025	$113.90	$100.39	-11.86%
Apr 29, 2025	$122.92	$119.01	-3.18%
Mar 05, 2025	$124.34	$127.30	+2.38%
Oct 29, 2024	$114.93	$119.12	+3.65%

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.