Shares of Birkenstock Holding PLC (NYSE:BIRK) edged lower in early trading on Friday, after the company reported its fiscal third-quarter (Q3) results on Thursday.

Here are the key analyst takeaways:

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Guggenheim Securities: Birkenstock Holding reported higher-than-expected revenues, with global DTC and wholesale growing at industry-leading rates in the low- to mid-teens. Siegel highlighted regional performance in constant currency terms:

  • Americas growing 14%, in line with the previous quarter and slightly above Street expectations.
  • Growth in EMEA accelerating to 15%, from the previous quarter’s 11%, beating consensus.
  • APAC growth decelerating to 23%, from 30% in the second quarter, missing expectations.

The footwear company’s gross margin contraction of 130 basis points (bps) was better than feared, coming in at 59.2%, higher than consensus of 58.7%. The contraction was mainly due to unfavorable FX translation, incremental US tariffs, and product mix, the analyst stated.

"Looking ahead, management raised its FY26 revenue to the high end, and lifted its Adj. EBITDA expectation," Siegel further wrote.

BTIG: Birkenstock’s revenues grew 15% in constant currency terms to €720 million ($834 million). It beat consensus of €715 million ($828 million), with adjusted EBITDA coming in at €242 million ($280 million), above estimates of €236 million ($273 million), Stichter said.  The company raised its full-year revenue growth outlook to 15%, from 13%-15% previously, she added.

Birkenstock continued to witness strong underlying demand, the analyst stated. She further noted:

  • In B2B, growth was consistent with recent trends
  • In DTC, digital growth accelerated "meaningfully" versus the first half of the year

BIRK Price Action: Shares of Birkenstock Holding had declined by 2.09% to $39.80 at the time of publication on Friday.

Read Also: Consumers Are Cutting Back — But Birkenstock Says Demand Is Still Running Strong

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