Birkenstock Holding plc (NYSE: BIRK) shares traded higher on Thursday after the footwear maker reaffirmed its outlook and projected stronger-than-expected fiscal 2025 revenue.
The upbeat guidance contrasts with the company’s third-quarter results, when it beat earnings expectations but missed revenue forecasts and still reaffirmed annual sales of $2.254 billion.
Despite the revenue miss, analysts are maintaining an Outperform rating with a price forecast of $70, suggesting confidence in the company’s long-term outlook.
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Birkenstock announced during an investor meeting at its Munich headquarters that it now expects to generate at least 2.09 billion euros (~$2.25 billion) in fiscal 2025 revenue, topping its prior range.
The shoemaker also projected fourth-quarter sales of at least 520 million euros, an increase of 14% on a reported basis and 18% in constant currency. Despite currency headwinds, it maintained an adjusted EBITDA margin forecast of 31.3% to 31.8%.
Acquisition Near Dresden
Birkenstock signed an agreement on Sept. 23 to purchase a production and logistics facility near Dresden for 18 million euros.
The site spans 78,000 square meters of developed space and another 80,000 square meters of land, secured at 240 euros per square meter after the prior owner’s bankruptcy.
The property will be operational by fiscal 2027 and initially support sandal, clog, and footbed production, expanding the company’s ability to meet global demand.
The acquisition underscores the company’s effort to expand capacity across Europe.
Price Action: At last check Thursday, BIRK shares were trading higher by 4.76% to $47.50 premarket.
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