EssilorLuxottica (EL) Q3 2025 TU earnings summary

Executive summary

• Achieved record Q3 2025 revenue growth of 11.7% at constant currency, reaching €6,867 million, with all major geographies delivering double-digit growth except Latin America, which grew 5.2%.

• Wearables, including Ray-Ban Meta and Oakley Vanguard, contributed over 4 percentage points to group growth, with strong product innovation and successful launches fueling performance.

• Vision care and sunglasses segments grew 5% at constant exchange rates, with notable momentum in North America and EMEA.

• Strategic acquisitions in med-tech, including Optegra, Retina AI, and RetinAl, expanded the vision-health ecosystem.

• Stellest lens received full FDA approval and launched in the US, with Stellest 2.0 introduced in China.

Financial highlights

• Q3 2025 group revenue reached €6,867 million (+11.7% at constant, +6.7% at current exchange rates); nine-month revenue totaled €20,891 million (+8.8% at constant, +5.9% at current exchange rates).

• North America revenue up 12.1% year-over-year, EMEA up 12.7%, Asia-Pacific up 10.5%, and Latin America up 5.2%.

• Both Professional Solutions and Direct to Consumer segments posted double-digit growth in Q3, with Direct to Consumer up 11.6% and Professional Solutions up 11.9%.

• Acquisitions of Heidelberg and Supreme contributed about 2 percentage points to sales growth.

• Comparable-store sales in Direct to Consumer up more than 7% in Q3.

Outlook and guidance

• Entering Q4 with further acceleration in key banners and strong momentum in both segments, supported by new product launches and expanded production capacity for wearables.

• Anticipates earlier-than-planned achievement of 10 million unit wearable production capacity, with further product innovation expected.

• Targeting mid-single-digit annual revenue growth from 2022 to 2026 at constant exchange rates, aiming for €27-28 billion revenue and adjusted operating profit margin of 19-20% by 2026.

• Integration of recent acquisitions and new product launches expected to support ongoing momentum.