2024

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<p class="has-drop-cap">Birkenstock Holding plc (NYSE:BIRK) has reported a robust performance for the <a href="https://www.morningstar.com/news/accesswire/869261msn/birkenstock-reports-record-second-quarter-revenue-up-23-yy-driven-by-strong-consumer-demand-across-all-segments-channels-and-categories-company-raises-full-year-revenue-growth-guidance-to-20" target="_blank" aria-label="second quarter (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">second quarter</a> of fiscal 2024, ended March 31, 2024. <br><br>The company achieved record revenue of EUR 481 million, marking a 22% increase on a reported basis and a 23% rise on a constant currency basis compared to the same period last year. This growth was driven by strong consumer demand across all segments, channels, and categories. <br><br>The company’s net profit for the quarter stood at EUR 72 million, a 45% increase from EUR 49 million in the previous year, with earnings per share (<a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">EPS</a>) rising to EUR 0.38 from EUR 0.27. Adjusted net profit was EUR 77 million, with adjusted EPS remaining flat at EUR 0.41 due to higher depreciation and amortization from recent capital investments and an IPO-related share increase.</p>
<h3 id="birkenstock-beats-eps-and-revenue-expectations-in-q2">Birkenstock Beats EPS and Revenue Expectations in Q2</h3>
<p>Birkenstock’s second-quarter performance exceeded market expectations. Analysts had anticipated an EPS of EUR 0.35 and revenue of EUR 465.4 million. <br><br>The actual EPS of EUR 0.38 surpassed the forecast by EUR 0.03, and the revenue of EUR 481 million exceeded expectations by EUR 15.6 million. This outperformance can be attributed to the company’s strategic initiatives and strong market demand. <br><br>The gross profit margin for the quarter was 56.3%, a decline from 59.5% in the previous year, primarily due to temporary impacts from production capacity expansion and planned, inflation-related wage adjustments.</p>
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<h3 id="birkenstock-raises-full-year-revenue-growth-guidance-to-20-up-from-17-18">Birkenstock Raises Full Year Revenue Growth Guidance to 20%, Up from 17%-18%</h3>
<p>Looking ahead, Birkenstock has raised its full-year revenue growth guidance to 20% in constant currency, up from the previous guidance of 17-18%. <br><br>The company now expects fiscal 2024 reported revenue to be between EUR 1.77 billion and EUR 1.78 billion, reflecting overall revenue growth of approximately 19% on a reported basis and 20% on a constant currency basis. Adjusted EBITDA is projected to be in the range of EUR 535-545 million, up from the prior guidance of EUR 520-530 million, resulting in an adjusted EBITDA margin of 30-30.5%. The company remains confident in its medium to long-term profitability objectives, including a gross profit margin of approximately 60% and an adjusted EBITDA margin of over 30%.</p>
<p>The company invested EUR 17 million in capital expenditures during the quarter, bringing the total year-to-date to EUR 35 million. These investments aim to meet increasing consumer demand and expand the company’s footprint in underpenetrated markets. <br><br>Despite the temporary impact on gross margin and adjusted EBITDA margin, these investments are expected to drive long-term growth. The company’s strong balance sheet, with cash and cash equivalents of EUR 176 million and net leverage of 2.6x, positions it well to continue its growth trajectory and deliver on its financial guidance.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/birkenstock-birk-reports-record-revenue-in-fiscal-q2-ups-guidance/">Birkenstock (BIRK) Reports Record Revenue in Fiscal Q2, Ups Guidance</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Birkenstock (BIRK) Reports Record Revenue in Fiscal Q2, Ups Guidance

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