Adidas raises profit outlook: Adidas stock sits 16.45 percent below its high

Published on 10/27/2026 at 09:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adidas lifts its 2026 operating profit outlook to EUR 2.5 billion. Adidas stock costs EUR 158.70 on October 27, 2026, below the Xetra close.

Profit outlook and operating leverage

Preliminary third-quarter revenue reached EUR 7,252 million on October 20, 2026.
Adidas projects EUR 2.5 billion in operating profit for fiscal year 2026, versus EUR 2.3 billion previously.
Adidas stock trades at EUR 158.70 at 9:39 a.m. CET at Lang & Schwarz on October 27, 2026, 0.72 percent below the Xetra close of October 26, 2026.
Final third-quarter results are scheduled for October 29, 2026.

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Adidas raises its 2026 operating profit outlook to EUR 2.5 billion, while Adidas stock sits 16.45 percent below its 52-week high of EUR 189.95. The company disclosed the change on October 20, 2026, after preliminary third-quarter revenue reached EUR 7,252 million and operating profit rose 37 percent to EUR 1,008 million, according to the adidas Group.

Record quarter resets outlook

The preliminary third-quarter figures point to a broader improvement than the profit forecast alone. Revenue increased 9 percent from the year-earlier quarter, while currency-neutral revenue growth was 7 percent. Gross margin improved by 2.5 percentage points to 54.3 percent.

The company said the quarter included a US tariff refund of EUR 200 million, which contributed to the margin improvement. It also cited healthy full-price sales, while unfavorable currency developments had a negative effect. The combination matters because the revised outlook includes both stronger underlying profitability and the refund.

What does the refund mean for profit?

Adidas initially indicated operating profit of EUR 2.3 billion for fiscal year 2026. The new outlook is EUR 2.5 billion, after the company decided to reinvest EUR 100 million in the fourth quarter into initiatives intended to improve future operating leverage.

That distinction gives the update two parts. The tariff refund supports the current year, while the reinvestment is designed to strengthen profitability beyond the quarter. Adidas also expects currency-neutral revenue growth of 9 percent to 10 percent for fiscal year 2026.

Final results arrive October 29

The preliminary release leaves the next test clearly defined: Adidas will publish its final third-quarter results on October 29, 2026. Those figures will show how much of the record operating result came from the tariff refund and how much came from full-price sales and the broader business.

At 9:39 a.m. CET on October 27, 2026, the stock was trading at EUR 158.70 at Lang & Schwarz, 0.72 percent below the Xetra close of October 26, 2026. The further course of trading is shown by the continuously updated real-time quote of Adidas stock.