Stella International (1836) Q3 2026 earnings summary

Executive summary

• Q3 2026 consolidated revenue rose 2.2% YoY to US$412.9m; 9M revenue increased 1.7% to US$1,199.6m.

• The 2026–2028 plan prioritizes manufacturing-base expansion and diversification; 2026 is an investment year, with most planned profit growth expected later in the plan period.

Financial highlights

• Q3 consolidated revenue was US$412.9m, versus US$404.2m in Q3 2025; 9M revenue was US$1,199.6m, versus US$1,179.2m.

• Footwear manufacturing revenue rose 1.3% YoY to US$396.7m in Q3 and 1.6% to US$1,163.3m in 9M.

Outlook and guidance

• Vietnam’s dedicated premium Sports factory began operations in Q3 2026 and is expected to ramp up through 2027; two factories in Indonesia and Bangladesh are expected to start in Q4 2026.

• New factories, together with the existing Solo, Indonesia factory, are expected to add ~20m pairs of production capacity over the coming years.

• Most profit growth from the Three-Year Plan is expected in the latter part of 2026–2028.