Birkenstock Holding (NYSE:BIRK) disclosed its fiscal third-quarter earnings on Thursday, revealing figures that fell short of market expectations.
The London-based footwear giant reported earnings of $74.6 million, with a net income of 40 cents per share. Adjusted for one-time costs, earnings were 49 cents per share.
The results did not meet the forecasts set by Wall Street analysts. According to Zacks Investment Research, the consensus among seven analysts predicted earnings of 56 cents per share.
Furthermore, Birkenstock’s revenue for the quarter stood at $564.8 million, missing expectations from six analysts surveyed by Zacks who anticipated a revenue of $628.7 million.
Despite the underwhelming financial performance this quarter, Birkenstock's share price have seen a significant increase of 25% since the start of the year, indicating strong investor confidence in the company’s market position and future prospects.