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Kering Sa Unsponsored ADR (DE:PPXB)
OTHER OTC:PPXB
Earnings Data
Report Date
Jul 29, 2026During Market Hours (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.4Last Year’s EPS
0.37Same Quarter Last Year
Moderate Sell
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call balanced clear evidence of a difficult 2025 — double-digit top-line declines for the group and significant EBIT compression — with decisive strategic actions and tangible operational improvements. Management highlighted successful cost-savings (EUR 925m), inventory reduction (‑8%), meaningful deleveraging (EUR 2.5bn net debt reduction to EUR 8bn), and early sequential sales momentum (Q4 at -3% comps, AUR up). Select houses (Bottega, Saint Laurent, Kering Eyewear) and the jewelry division showed resilience and growth. However, material challenges remain (notably Gucci’s large revenue decline, wholesale contraction, losses at some brands, and sizeable nonrecurring charges). Overall, the narrative is constructive about the turnaround path but the near-term financials remain challenged.Company Guidance
Cost Savings and OpEx Reduction
Delivered EUR 925 million in cost savings in 2025, reducing OpEx base by 9% versus 2024 and >EUR 1 billion OpEx savings over two years, enabling reinvestment in creativity and brand initiatives.
Retail Footprint Optimization
Net closure of 75 stores in 2025 (1,719 stores year-end) to sharpen retail quality; plan for at least 100 net store closures in 2026 and targeted further rationalization (targeting ~-20% units vs 2025 mid term).
Inventory and CapEx Discipline
Year-end inventories reduced by 8% (2025) with further reductions expected in 2026; CapEx excluding real estate was EUR 0.8 billion, down almost 30% (CapEx/sales ratio 5.4%).
Cash Generation and Deleveraging
Free cash flow including real estate transactions EUR 4.4 billion; free cash flow excluding real estate EUR 2.3 billion (down vs prior year but positive). Net financial debt reduced by EUR 2.5 billion to EUR 8.0 billion; expected further significant reduction after Kering Beauté sale (EUR 4.0 billion inflow) with leverage moving toward ~1.0–1.5x.
Sequential Sales Momentum and Q4 Improvement
Sequential improvement across the year with full-year revenue (ex Kering Beauté) EUR 14.7 billion, down 10% comparable; Q4 showed marked improvement to -3% comparable with AUR (average unit retail) up high-single-digits and improved conversion rates.
Strong Performance in Select Houses and Divisions
Bottega Veneta: full-year revenue EUR 1.7 billion, +3% comparable and recurring operating income EUR 267 million (+5% y/y, 15.6% margin). Saint Laurent: EUR 2.6 billion revenue, -6% comparable, with a robust 20% recurring margin (EUR 529 million). Kering Eyewear: comparable revenue +3% to ~EUR 1.6 billion and operating income EUR 252 million (15.8% margin).
Jewelry Momentum and Strategic Verticalization
Jewelry houses strong in Q4 (e.g., Boucheron +mid-20s% comparable; Qeelin mid-teens). Progressive acquisition of Raselli Franco to strengthen industrial capabilities and scale in jewelry, signaling strategic focus on a high-growth, resilient category.
Strategic Partnership and ESG Credentials
Announced partnership with L'Oréal to accelerate beauty development and entry into wellness/longevity; Kering retained CDP Triple A rating for the third consecutive year, reinforcing sustainability as a competitive advantage.
DE:PPXB 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:PPXB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 10, 2026 | €25.60 | €26.60 | +3.91% |
Jul 29, 2025 | €22.15 | €21.35 | -3.60% |
Feb 11, 2025 | €23.63 | €24.02 | +1.67% |
Jul 24, 2024 | €31.94 | €30.18 | -5.52% |
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 Kering Sa Unsponsored ADR (DE:PPXB) report earnings?
Kering Sa Unsponsored ADR (DE:PPXB) is schdueled to report earning on Jul 29, 2026, During Market Hours (Confirmed).
What is Kering Sa Unsponsored ADR (DE:PPXB) earnings time?
Kering Sa Unsponsored ADR (DE:PPXB) earnings time is at Jul 29, 2026, During Market Hours (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 Kering Sa Unsponsored ADR stock?
The P/E ratio of Kering is N/A.
What is DE:PPXB EPS forecast?
DE:PPXB EPS forecast for the fiscal quarter 2026 (Q2) is 0.4.