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Levi Strauss (LEVI) Q3 2026 earnings
CNBC • • general
Key Points:
- Levi Strauss raised its full-year adjusted earnings per share forecast to $1.54-$1.56, boosted by tariff refunds, but lowered its net revenue growth guidance to 7%, the low end of its previous 7%-7.5% range.
- In Q3, Levi's net revenues in the Americas increased 4%, though U.S. revenue declined 1%, and operating margin improved to 13.8% from 10.8% last year, largely due to tariff refunds contributing 4.9% to margins.
- Tariff refunds added a 16-cent benefit to earnings per share in Q3, with 5 cents reinvested in the business, though the company did not specify how those funds were used.
- Levi reported Q3 net income of $168.6 million (43 cents per share), down from $218.1 million (55 cents) the prior year, with sales rising about 4% to $1.61 billion, slightly below analyst expectations.
- Direct-to-consumer sales grew 2% with flat comparable sales, making up 45% of revenue, while wholesale sales rose 6%; CEO Michelle Gass expressed optimism about DTC growth heading into the holiday season.
