Birkenstock (NYSE: BIRK) reported fiscal first-quarter results that largely met market expectations while delivering double-digit constant-currency growth across all geographic regions.
The company posted earnings per share of €0.27 for the quarter, broadly in line with the consensus estimate of €0.26. Revenue totaled €401.9 million, representing 17.8% growth on a constant-currency basis and matching analyst expectations of €402 million.
Sales expanded at a double-digit rate in constant currency across all regions, increasing 14% in the Americas, 17% in EMEA, and 37% in APAC.
By distribution channel, business-to-business (B2B) revenue advanced 24% in constant currency, while direct-to-consumer sales rose 12% on the same basis.
Adjusted gross margin declined 290 basis points year over year to 57.4%, primarily reflecting unfavorable currency translation effects, incremental U.S. tariffs, and channel mix shifts. These headwinds were partially offset by pricing actions, net of inflation, and improved capacity utilization.
Adjusted EBITDA increased 4% from a year earlier to €106 million. However, adjusted EBITDA margin narrowed 170 basis points to 26.5%, compared with 28.2% in the prior-year period.
