Companies /Consumer Cyclical

Levi Strauss & Co. Cls A

NYSE: LEVI Apparel Manufacturing
$21.05
▼ $0.38 (−1.77%) today
Markets closed · 1:45am ET

Q2 2025 Earnings

Reported Jul 10, 2025, 4:11pm ET · SEC source
$0.22
Beat +63.57%
EPS · est. $0.13
$1.4B
Beat +5.57%
Revenue · est. $1.4B
−9.5%
Trailing market
LEVI vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−8%−4%0+4%Jul 10Jul 11report 4:11pm ETearnings−0.4%+1.8%
−8%−4%0+4%Jul 10Jul 11earnings−0.4%+1.8%
LEVI +1.8%S&P 500 −0.4%
−8%−4%0Jul 10Jul 11report 4:11pm ETearnings−0.3%+1.8%
−8%−4%0Jul 10Jul 11earnings−0.3%+1.8%
LEVI +1.8%NASDAQ −0.3%
−8%−4%0+4%Jul 9Jul 18report 4:11pm ETearnings+0.3%−0.9%
−8%−4%0+4%Jul 9Jul 18earnings+0.3%−0.9%
LEVI −0.9%S&P 500 +0.3%
−8%−4%0+4%Jul 9Jul 18report 4:11pm ETearnings+1.1%−0.9%
−8%−4%0+4%Jul 9Jul 18earnings+1.1%−0.9%
LEVI −0.9%NASDAQ +1.1%
+11.25%
Day of report
−2.64%
Next session
−4.74%
One week
−6.42%
30 days

S&P 500 over the same 30 days: +3.06%.

Did LEVI Beat Earnings? Q2 2025 Results

Levi Strauss delivered a solid second quarter of fiscal 2025, posting adjusted diluted EPS of $0.22, up 37% from $0.16 a year ago, on net revenues of $1.45 billion that rose 6% on a reported basis and 9% organically. The primary engine behind the results was the company's accelerating shift toward direct-to-consumer selling, with DTC now representing 50% of total net revenues and global DTC comparable sales extending their growth streak to 13 consecutive quarters. Gross margin expanded 140 basis points to 62.6%, aided by lower product costs and a richer channel mix, while adjusted EBIT margin climbed 190 basis points to 8.3%. Europe was the standout region, delivering 15% organic revenue growth, and e-commerce rose 13%. Looking ahead, Levi's raised its full-year adjusted diluted EPS guidance by $0.05 to a range of $1.25 to $1.30 and lifted its organic revenue growth outlook to 4.5% to 5.5%, even as management absorbed an assumed 30% tariff on China imports into the updated forecast.

Key Takeaways
  • 13th consecutive quarter of global DTC comparable sales growth
  • DTC comprised 50% of total net revenues
  • Gross margin expansion of 140 basis points to 62.6% driven by lower product costs and favorable channel mix
  • SG&A leverage of 50 basis points year over year
  • Levi's brand grew 9% globally on an organic basis
  • E-commerce grew 13% on both reported and organic basis
  • Europe organic net revenue growth of 15%
  • U.S. organic net revenue growth of 7%

“We delivered another strong quarter, reflecting broad-based strength across the board—clear evidence that our strategic agenda is gaining traction.”

Levi Strauss CEO, on the earnings call

Forward Guidance & Outlook

The company raised its full-year fiscal 2025 guidance despite higher tariff assumptions (30% on China imports, 10% rest of world). Reported net revenue growth raised to 1%–2% (from -1% to -2%). Organic net revenue growth raised to 4.5%–5.5% (from 3.5%–4.5%). Gross margin expansion of 80 basis points expected (reduced from 100 bps due to 20 bps tariff impact after mitigation). Adjusted EBIT margin maintained at 11.4%–11.6%, up 70–90 bps year over year. Tax rate maintained at approximately 23%. Adjusted diluted EPS raised by $0.05 to $1.25–$1.30 (from $1.20–$1.25). Outlook assumes no significant worsening of macroeconomic pressures, inflationary pressures, recessionary concerns, supply chain disruptions, or additional tariff escalation.

LEVI YoY Financials

Revenue$1.4B
Gross Profit$905.8M
Operating Income$108.0M
Net Income$79.6M

LEVI Revenue by Segment

Levi's$1.4B+7.4%
Direct-to-Consumer$716.1M+10.5%
Wholesale$729.9M+2.7%
Levi Strauss Signature$56.4M+0.7%
Beyond Yoga$36.8M+11.9%

LEVI Revenue by Geography

Americas$748.4M+5.1%
Europe$403.1M+14.0%
Asia$257.7M−0.9%

Figures from SEC filings and company reports. Not investment advice.