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Edge14 Aug 2026
Deutsche Qualität: The Story of Birkenstock
From an 18th-century German shoemaker to a global footwear brand, how Birkenstock turned an orthopedic insole into the world's most popular sandal.
Birkenstock
Birkenstock (BIRK) investor relations material
Birkenstock Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary13 Aug, 2026
Executive summary
Q3 revenue grew 13% reported and 15% in constant currency to EUR 720 million, at the high end of guidance, with double-digit growth across all regions and channels.
DTC revenue growth outpaced B2B for the first time in two years, up 14% reported and 16% in constant currency, with penetration rising to 39%.
Adjusted net profit rose 15% to EUR 134 million, and adjusted EPS increased 19% to EUR 0.74, supported by share repurchases; net profit declined 15% to EUR 110 million due to non-recurring, non-cash expenses.
Completed EUR 230 million accelerated share repurchase, reducing outstanding shares by 6 million, and issued EUR 900 million in new senior notes to refinance debt and add cash for future repurchases.
Expanded retail footprint with new stores and accelerated digital growth, especially in EMEA and APAC.
Financial highlights
Revenue: EUR 720 million for Q3 2026 (+13% YoY reported, +15% constant currency); adjusted EBITDA: EUR 242 million (+11% YoY), margin at 33.7%, down 70 bps due to FX and tariffs.
Adjusted gross profit margin: 59.2%, down 130 bps year-over-year, mainly from FX and tariffs.
Adjusted net profit: EUR 134 million (+15% YoY); adjusted EPS: EUR 0.74 (+19% YoY); net profit: EUR 110 million (-15% YoY); EPS: EUR 0.60 (-13% YoY).
Operating cash flow: EUR 246–247 million for the quarter; cash and equivalents at quarter-end: EUR 694 million.
Net leverage increased to 1.8x from 1.5x due to share repurchase.
Outlook and guidance
FY26 revenue growth guidance raised to 15% in constant currency, at the high end of EUR 2,300–2,350 million.
Adjusted EBITDA guidance increased to at least EUR 710 million; margin expected at 30.2–30.5%.
Adjusted gross profit margin expected at 57.0–57.5%; tax rate guidance increased to 30–31% due to non-deductible, non-cash expenses.
CapEx for the year projected at EUR 110–130 million; net leverage target 1.6x–1.7x by year-end.
Management expects to finance operations and working capital needs for the next 12 months from operating cash flow.
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Latest events from Birkenstock
- Revenue up 8% to €618M; profit and margins declined, but guidance reaffirmed.BIRK
Q2 2026 - Q1 revenue up 18% constant currency, net profit surged 151%, but margins pressured by tariffs and FX.BIRKQ1 2026
- 13%-15% annual revenue and EPS growth, €1B incremental revenue, and 30%+ EBITDA margin by FY28.BIRKCMD 2026
- Record revenue and profit growth in 2025; 2026 outlook strong despite FX and capacity headwinds.BIRKQ4 2025
- Premium product demand and retail expansion drive record growth and stable margins.BIRKGoldman Sachs 31st Annual Global Retailing Conference
- Fiscal 2024 revenue up 21% to €1.8B, margin 30.8%, leverage down, strong 2025 outlook.BIRKQ4 2024
- Q3 revenue up 19% to €565M, EBITDA margin at 33%, and leverage improved to 2.1x.BIRKQ3 2024
- Revenue up 19% and net profit up 47%, with margin expansion and robust global growth.BIRKQ2 2025
- Revenue up 19% and net profit positive, driven by strong B2B and APAC growth; guidance reiterated.BIRKQ1 2025
Next Birkenstock earnings date
Q4 202610 Dec, 2026
Birkenstock
Next Birkenstock earnings date
Q4 202610 Dec, 2026
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Two And a Half Centuries of Sandal-Making: Birkenstock is Going Public
Birkenstock, a name synonymous with comfortable and high quality sandals, has a rich history dating back over two and a half centuries. The brand's commitment to its heritage, innovative footbed technology, and comfortable footwear products have propelled it into a global powerhouse in its industry.
Frequently asked questions
Iconic Sandals
Birkenstock Holding is a German shoe manufacturer producing various forms of sandals and shoes. The corporate headquarters are in Neustadt, Rhineland-Palatinete, and nearly all of the production takes place in Germany, something that Birkenstock as a company takes great pride in. Birkenstock shoes are made with contoured cork footbeds that offer support for the foot while promoting a natural style of walking. While Birkenstock is primarily known for its different types of sandals, the company’s portfolio has a vast array of options for consumers spanning a wide price range. Its merchandise is sold worldwide, and its shares are traded on the NYSE.
The History
The Birkenstock history dates back to 1774, as church records mention a Birkenstock family member as a “parishioner and shoemaker.” However, the beginning of the modern form of the company was in the late 19th century when Konrad Birkenstock started producing insoles. A significant development came in 1902 with the introduction of contoured arch support. This became the basis for the "Birkenstock System," an orthopedic principle focused on the idea of "Naturgewolltes Gehen" or natural walking. This design, mimicking the feel of walking on natural surfaces, has since been a consistent feature in Birkenstock's shoe-making approach.
Further reading: Two And a Half Centuries of Sandal-Making: Birkenstock is Going Public
Sandals and More
Known primarily for their signature sandals, the company has developed a range of footwear products over the decades. Their design is distinguished by a contoured footbed made from cork, latex, and jute which molds to the wearer's foot over time, offering a customized fit. Birkenstocks also incorporate high-quality materials, such as leather, suede, and synthetic uppers, to ensure durability. In addition to its iconic sandals, the brand has expanded its product line to include closed-toe shoes, boots, and other varieties.
A Worldwide Reach
Birkenstock merchandise is sold all over the world. Its shoes can be found in retail locations run by other companies, as well as in stores that are completely owned and operated by Birkenstock itself. The company operates its own online store and also sells through third-party channels such as Zalando, Nordstrom, and similar retailers.