Deckers Outdoor (DECK) Q4 2026 earnings summary

Executive summary

• Fiscal 2026 closed with record results, driven by strong brand momentum, disciplined execution, and innovation across product pipelines, especially for HOKA and UGG.

• HOKA delivered its largest quarter ever in Q4, with robust global DTC and wholesale growth, while UGG achieved record revenue through diversified product mix and broader consumer engagement.

• HOKA and UGG brands drove growth, while other brands declined due to the phase-out of Koolaburra and the sale of Sanuk.

• Both brands contributed to expanded gross margins despite tariff headwinds, with high levels of full-price sell-through.

• Share repurchase authorization increased by $3.5 billion, totaling $5 billion.

Financial highlights

• Q4 revenue was $1.12 billion, up 10% year-over-year; HOKA up 15%, UGG up 9%.

• Full-year revenue reached $5.47 billion, a 10% increase over last year.

• Gross margin for Q4 was 57.6%, up 90 bps; full-year gross margin was 57.7%, down 20 bps due to tariffs.

• Operating margin for FY 2026 was 23.1%.

• Diluted EPS for the year was $7.02, up 11% from $6.33 last year.

• $1.075 billion in share repurchases completed in FY 2026.

• Ended FY 2026 with $1.9 billion in cash and equivalents, no outstanding borrowings.

Outlook and guidance

• FY 2027 revenue expected at $5.86–$5.91 billion, high single-digit growth.

• HOKA projected to grow low double digits, UGG mid-single digits.

• Gross margin guidance at 56.5%, down due to higher freight and input costs.

• Operating margin expected at 21.5%; EPS guidance $7.30–$7.45.

• Capital expenditures forecasted at $145–$155 million, focused on technology and store expansion.

• Multi-year framework targets high single-digit revenue CAGR and low double-digit EPS CAGR through FY 2030.