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Adidas shares tumble on disappointing 2026 outlook
4 Mar
Summary
- Adidas projects high single-digit revenue growth for 2026.
- Operating profit expected around 2.3 billion euros in 2026.
- Company shares fell as much as 8% on Wednesday.
Shares of Adidas experienced a significant drop, falling up to 8% on Wednesday following the company's release of a less-than-ideal financial forecast for 2026. The German sportswear manufacturer anticipates revenue growth in the high single digits, starting from the 2025 total of 24.8 billion euros.
Despite facing headwinds from unfavorable currency swings and U.S. tariffs, which are expected to have a negative impact of 400 million euros, Adidas projects its operating profit to climb to around 2.3 billion euros. This figure suggests an implied operating margin of 9%, which analysts from RBC Capital Markets and Jefferies have indicated is below market expectations.
In the fourth quarter, both sales and profit slightly missed estimates, reaching 6.1 billion euros and 164 million euros respectively, in constant currencies. Looking ahead to the 2026-2028 period, Adidas aims for currency-neutral sales to grow at a high single-digit rate, with operating profit increasing at a mid-teens annual growth rate.
