Adidas Reports Better-Than-Expected Q3 Results And Raises FY Guidance; Q3 Currency-Neutral Revenues Up 10% YoY, Euro Revenues Grow 7% To €6.44B; Excluding Yeezy, Currency-Neutral Revenues Increase 14%; Gross Margin Improves To 51.3%; Operating Profit Jumps To €598M, Including €50M From Yeezy Inventory Sales; FY Operating Profit Expected Around €1.2B, Revenue Growth Forecast Raised To 10%
Portfolio Pulse from Benzinga Newsdesk
Adidas reported strong Q3 results, with a 10% YoY increase in currency-neutral revenues and a 7% increase in Euro revenues to €6.44B. Excluding Yeezy, revenues rose 14%. The gross margin improved to 51.3%, and operating profit increased to €598M, including €50M from Yeezy inventory sales. Adidas raised its FY operating profit expectation to around €1.2B and revenue growth forecast to 10%.
October 15, 2024 | 4:06 pm
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POSITIVE IMPACT
Adidas reported better-than-expected Q3 results, with significant revenue growth and improved margins. The company raised its full-year guidance, indicating strong future performance.
Adidas' strong Q3 performance, with a 10% increase in currency-neutral revenues and improved gross margins, suggests robust business health. The raised FY guidance further indicates confidence in continued growth, likely boosting investor sentiment and stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Adidas' strong Q3 results and raised guidance may impact Nike as a competitor, potentially influencing market dynamics and investor perceptions.
While the news is primarily about Adidas, Nike, as a direct competitor, may be indirectly affected by Adidas' strong performance and raised guidance. This could influence market dynamics and investor perceptions, but the direct impact on Nike's stock is uncertain.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30