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Levi Strauss & Co. (NYSE: LEVI) reported stronger-than-expected third-quarter earnings and raised its full-year profit and margin outlook, helping shares gain about 1% in after-hours trading. The stock had closed Wednesday down 4.97%.
The denim and apparel company posted adjusted earnings of $0.48 per share for the quarter ended August 30, comfortably beating analysts’ estimate of $0.36. Revenue increased 4% year over year to $1.61 billion from $1.54 billion, narrowly missing the $1.62 billion consensus forecast. Organic revenue grew 5%.
Levi Strauss also increased its full-year adjusted EPS forecast to between $1.54 and $1.56. The midpoint of $1.55 is slightly above analysts’ consensus estimate of $1.54.
CEO Michelle Gass said the quarter demonstrated the strength of Levi Strauss’ diversified portfolio, highlighting solid international and wholesale growth alongside continued momentum across its lifestyle categories.
Profitability improved significantly during the quarter. Operating margin climbed to 13.8% from 10.8% a year earlier, while adjusted EBIT margin expanded to 15.5% from 11.8%. Gross margin jumped 450 basis points to 66.2%.
The company received $79 million in tariff refunds during the period and reinvested roughly $25 million into initiatives designed to support future growth.
Wholesale revenue increased 6% on both reported and organic bases. Direct-to-consumer revenue rose 2%, supported by a 10% increase in e-commerce, although comparable DTC sales were flat.
Regionally, Americas revenue advanced 4% on a reported basis and 2% organically. Europe sales increased 4% reported and 5% organically, while Asia delivered 5% reported growth and a stronger 10% organic increase.
For fiscal 2026, Levi Strauss raised its gross margin forecast to an increase of 130 basis points from the prior year, sharply above its previous guidance for a 10-basis-point improvement. Adjusted EBIT margin is now expected to reach approximately 12.1%, representing a 70-basis-point year-over-year increase.
