The German sandal manufacturer Birkenstock achieved a record revenue in the third fiscal quarter of 2024 but failed to meet analysts' expectations, which significantly impacted the stock. The quarterly profit was 0.40 euros per share, well below the forecasts of 0.511 euros per share. Despite a profit jump compared to the same period last year, Birkenstock was unable to meet market expectations.

The company's revenue rose to 564.8 million euros during the reporting period, which was also below analysts' estimates of 566.2 million euros. Birkenstock recorded the highest quarterly result in the company's history, but investors were disappointed that the company merely confirmed its annual forecast and did not raise it further. Closed-toe shoes were in particular demand in the third quarter, contributing to revenue growth.

Luca Solca, an analyst at Bernstein, described the figures as "robust," but noted that expectations had been higher after the annual forecast was raised in the second quarter. Birkenstock continues to forecast a revenue growth of 19 percent and an adjusted EBITDA margin of 30 to 30.5 percent for the current fiscal year. In the third quarter, the EBITDA margin fell to 33 percent, which the company attributed to the expansion of production capacity.

The Birkenstock stock reacted negatively to the quarterly figures and lost 16.14 percent, closing at 50.90 USD in NYSE trading. Since its IPO in mid-October, the stock had previously gained 32 percent before investor disappointment led to the sharp decline in its price.