Birkenstock Shares Slide 11% After Q2 Miss

Birkenstock shares dropped over 11% in pre‑market trading after Q2 operating profit and earnings missed estimates despite revenue growth.
Q2 operating profit €155.5 m (‑11% YoY) and adjusted EPS €0.50 fell short of Bloomberg consensus €168.1 m and €0.59 respectively.
Revenue rose 7.7% to €618.3 m, with Americas, EMEA, APAC growth; margins compressed due to currency headwinds and US tariffs.
Company reaffirmed FY2026 guidance: 13‑15% revenue growth, adjusted EBITDA margin 30‑30.5%, gross profit margin 57‑57.5%, EPS €1.90‑2.05.