PUMA SE NPV (DE:PUM)
XETRA:PUM
Earnings Data
Report Date
Apr 30, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.23Last Year’s EPS
0Same Quarter Last Year
Moderate Buy
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Negative
The call presented a mixed picture: strong brand momentum, product successes, organizational restructuring and financing steps that provide a pathway to recovery, but these positives are outweighed by substantial near-term financial deterioration — deep sales declines, negative margins, material one-time charges, cash burn and elevated net debt. Management emphasizes this is a year of transition (2026) with expectations for margin improvement, positive free cash flow and a return to growth/profitability by 2027, but significant execution and near-term risks remain.Company Guidance
Strong Brand Moments and Partnerships
Multiple high-profile sports achievements and partnerships in 2025: Mondo Duplantis (world title and world record), Amanal Petros (marathon silver), 10 teams qualified for the FIFA World Cup, HYROX partnership extended, addition of McLaren for Formula 1, EuroBasket/handball successes and marquee athletes (Dennis Schroder, Tyrese Haliburton).
Successful Product Launches and Sellouts
Key product momentum early 2026: sellout of handball personalized proposition, full sellout activity for Speedcat/SUEDE in fashion activations, dedicated HYROX footwear launch, strong reception for NITRO running family (Velocity Nitro 4, Deviate NITRO Elite 4).
Direct-to-Consumer (D2C) Mix Improvement
D2C share increased materially: Q4 D2C share rose to 41.1% from 35.5% in Q4 2024; full-year D2C share increased to 32.4%. Full-year D2C sales up ~3%, and e-commerce share rose from 28.9% to 32.4% year-over-year.
Cost Efficiency and Organizational Restructuring
OpEx excluding one-time effects declined ~8% in Q4 to EUR 887 million and remained broadly flat at ~EUR 3.5 billion for the full year. Rightsizing measures target ~20% reduction in white-collar positions between 2025 and 2026 (500 positions reduced in H1 2025; additional reductions underway).
Inventory Cleanup Progress
Inventory cleanup reported as 'slightly ahead of plan': inventories at ~EUR 2.1 billion with Q4 beginning to decline vs Q3; majority of targeted wholesale takebacks completed and company aims to normalize inventories by end of 2026.
Improved Royalty/License Income and Financing Actions
Royalty and commission income increased 36% in Q4 and +4.4% full year to EUR 92 million due to licensing transitions. Secured financing measures included EUR 100 million private placement (Feb 2026), reduction of bridge facility to EUR 350 million, and reported financial headroom ~EUR 1.5 billion (cash EUR 290 million + ~EUR 1.2 billion undrawn lines).
Clear 3-Year Transformation Roadmap and 2026 Priorities
Management outlined a structured reset: distribution cleanup (reducing undesirable wholesale exposure), product range simplification (double-digit reductions in inline and non-inline range), new operating model uniting brand/product/go-to-market, and targeted marketing investments to re-elevate brand perception.
Positive 2026 Operational Outlook Signals
Management expects a substantial improvement in gross margin in 2026 (due to lower promotions and favorable channel mix), positive free cash flow in 2026 (vs negative FCF 2025), CapEx guidance ~EUR 200 million focused on digital/DTC, and a return to above-industry growth and healthy profitability by 2027 (medium-term ambition).
DE:PUM 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:PUM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | €22.61 | €24.83 | +9.82% |
Oct 30, 2025 | €20.60 | €18.78 | -8.83% |
Jul 31, 2025 | €19.41 | €18.64 | -3.97% |
May 08, 2025 | €22.76 | €23.95 | +5.22% |
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 PUMA SE NPV (DE:PUM) report earnings?
PUMA SE NPV (DE:PUM) is schdueled to report earning on Apr 30, 2026, TBA (Confirmed).
What is PUMA SE NPV (DE:PUM) earnings time?
PUMA SE NPV (DE:PUM) earnings time is at Apr 30, 2026, TBA (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?
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What is the P/E ratio of PUMA SE NPV stock?
The P/E ratio of PUMA SE NPV is N/A.
What is DE:PUM EPS forecast?
DE:PUM EPS forecast for the fiscal quarter 2026 (Q1) is -0.23.