Adidas shares rise as strong third quarter drives 2026 guidance hike

Adidas sneakers and other shoes for sale are pictured at a shop in Berlin, Germany, May 2, 2024.

Adidas sneakers and other shoes for sale are pictured at a shop in Berlin, Germany, May 2, 2024. (REUTERS/Lisi Niesner)


1 photo
Save Story

Estimated read time: 1-2 minutes

Oct 21 — Adidas shares rose 3.3% in early Frankfurt trade on ​Wednesday, after the German sportswear group raised its full-year outlook on the back of strong third-quarter results.

Adidas ‌has been investing in rolling out new styles as the popularity ⁠of its Samba and ​Gazelle sneakers gradually fades, including ⁠the launch of its lightest‑ever racing shoe, the Adizero ‌Adios Pro Evo ‌3, which helped Kenyan runner Sabastian Sawe ⁠crack the two‑hour marathon ⁠barrier in April.

The group said in an unscheduled preliminary earnings statement on Tuesday that it expected its 2026 operating profit to be around €100 million ($112 million) higher than previously anticipated, not counting a ‌US tariff refund of €200 million ​recorded in the third quarter.

In total, it sees annual operating earnings of €2.5 billion, instead of the previous €2.3 billion goal, when accounting for the refund and a reinvestment of €100 million planned for the fourth quarter.

The surprise update provided "another compelling proof point of ​Adidas continuing to expand market share while delivering ‌profitable growth amid ‌a ⁠challenging environment", Metzler analysts said in a note to investors.

J.P. Morgan analysts wrote that excluding the impact from tariffs, Adidas' quarterly gross profit and underlying operating ‌profit exceeded market expectations by ​2% and 9%, respectively.

($1 = ‌0.8910 euros)

(Reporting by ⁠Tristan Veyet ​in Gdansk and Alessandro Parodi in Paris, editing by ​Milla Nissi-Prussak)

Photos

Most recent Business stories

Related topics

STAY IN THE KNOW

Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the KSL.com Trending 5.
By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Notice.
Newsletter Signup

KSL Weather Forecast

KSL Weather Forecast
Play button