Columbia Sportswear Company (COLM) investor relations material

Executive summary

• Q3 net sales rose 2% to $962.6M and diluted EPS reached $1.66; results exceeded guidance amid international momentum and improving U.S. DTC trends.

• ACCELERATE showed traction, particularly in U.S. e-commerce, fleece and products aimed at younger, active consumers; management noted U.S. brand perceptions still need improvement.

Financial highlights

• Net sales were $962.6M vs. $943.4M a year earlier; operating income rose to $109.6M from $67.4M and net income to $84.7M from $52.0M.

• Diluted EPS was $1.66 vs. $0.95; prior-year $29.0M prAna and Mountain Hardwear impairment charges reduced EPS by $0.46.

• SG&A expense declined 1% to $375.6M, reflecting lower overhead and disciplined spending, partly offset by incentive compensation and DTC costs.

• First-nine-month sales rose 1% to $2,356.0M; operating income was $182.5M vs. $90.3M and diluted EPS was $2.82 vs. $1.53.

Outlook and guidance

• FY2026 sales guidance is $3.46B-$3.50B, up 2%-3%; diluted EPS guidance is $4.65-$4.90, with the low end raised.

• FY2026 gross margin is forecast at 52.1%-52.3%, operating margin at 8.7%-9.1%, and SG&A at 43.8%-44.0% of sales; tariff refunds support gross margin.

• Q4 sales are forecast at $1.108B-$1.145B, up 3.5%-7.0%, with EPS of $1.85-$2.10; a ~30M shipment shift affects Q3 and Q4 growth by 2.5-3 percentage points each.

• FY operating cash flow guidance is $230M-$250M, reduced from $290M-$310M due to earlier Spring 2027 production and higher expected year-end inventory; capex is $60M-$70M.

• Preliminary H1 2027 wholesale sales are expected to grow at a mid-single-digit rate in the U.S. and globally; the Spring order book improved to low-to-mid-single-digit growth.