Birkenstock's Q2 Revenue Rises 22%, Beats Expectations With Strong Global Demand: Details
Portfolio Pulse from Lekha Gupta
Birkenstock Holding plc (NYSE:BIRK) reported a 22% increase in Q2 revenue, beating expectations with strong global demand. Revenue reached EUR 481 million, and adjusted EPS stood at EUR 0.41. The company raised its FY24 revenue and adjusted EBITDA guidance, despite a decline in gross margin due to production capacity expansion and inflation-related wage adjustments.
May 30, 2024 | 1:12 pm
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Birkenstock Holding plc (NYSE:BIRK) reported a 22% increase in Q2 revenue, beating expectations with strong global demand. The company raised its FY24 revenue and adjusted EBITDA guidance, despite a decline in gross margin due to production capacity expansion and inflation-related wage adjustments.
The strong revenue growth and raised guidance indicate positive future performance, which is likely to drive the stock price up in the short term. The decline in gross margin is a temporary issue due to production expansion and wage adjustments.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100