Companies /Consumer Cyclical

Levi Strauss & Co. Cls A

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

Q3 2025 Earnings

Reported Oct 9, 2025, 4:18pm ET · SEC source
$0.34
Beat +11.04%
EPS · est. $0.31
$1.5B
Beat +2.99%
Revenue · est. $1.5B
−5.0%
Trailing market
LEVI vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−5%0+5%Oct 9Oct 10report 4:18pm ETearnings−2.8%−6.6%
−5%0+5%Oct 9Oct 10earnings−2.8%−6.6%
LEVI −6.6%S&P 500 −2.8%
−5%0+5%Oct 9Oct 10report 4:18pm ETearnings−3.3%−6.6%
−5%0+5%Oct 9Oct 10earnings−3.3%−6.6%
LEVI −6.6%NASDAQ −3.3%
−6%0+6%Oct 8Oct 17report 4:18pm ETearnings−0.9%−9.7%
−6%0+6%Oct 8Oct 17earnings−0.9%−9.7%
LEVI −9.7%S&P 500 −0.9%
−6%0+6%Oct 8Oct 17report 4:18pm ETearnings−0.9%−9.7%
−6%0+6%Oct 8Oct 17earnings−0.9%−9.7%
LEVI −9.7%NASDAQ −0.9%
−12.55%
Day of report
−1.40%
Next session
−2.75%
One week
−0.42%
30 days

S&P 500 over the same 30 days: +4.59%.

Did LEVI Beat Earnings? Q3 2025 Results

Levi Strauss & Co. posted a convincing fiscal third-quarter beat, with earnings per share of $0.34 clearing the $0.31 consensus estimate by 11.04% and revenue of $1.54 billion coming in 2.99% ahead of the $1.50 billion Wall Street expected, up 1.8% year over year. The headline driver was a powerful acceleration in the company's direct-to-consumer pivot, with DTC revenues climbing 11% on a reported basis to represent 46% of total net revenues, while e-commerce surged 18%, collectively helping expand gross margin 110 basis points to 61.7%. Asia led regional performance with 12% reported growth, and the value-tier Levi Strauss Signature brand posted 21.1% growth in the quarter. Management responded to the momentum by lifting its full-year fiscal 2025 outlook, raising organic revenue growth guidance to approximately 6% and nudging adjusted diluted EPS guidance to $1.27-$1.32, with gross margin expansion now expected at 100 basis points. At least one analyst maintained a Buy rating with a $27 price target following the results, reflecting broader confidence in Levi's ongoing strategic repositioning.

Key Takeaways
  • DTC-first strategy driving high-single-digit comparable sales growth
  • E-commerce net revenues grew 18% on a reported basis
  • Favorable channel mix and price increases expanding gross margins
  • Strong growth across all geographic segments, with Asia leading at 12%
  • Four consecutive quarters of high-single-digit growth
  • Levi Strauss Signature brand grew 21.1% in the quarter

“We delivered another very strong quarter as our pivot to becoming a DTC-first, head-to-toe denim lifestyle retailer is driving a meaningful inflection in our financial performance.”

Levi Strauss CEO, on the earnings call

Forward Guidance & Outlook

The company raised its full fiscal year 2025 guidance (based on continuing operations, excluding Dockers): reported net revenue growth raised to approximately 3% (from 1%-2%); organic net revenue growth raised to approximately 6% (from 4.5%-5.5%); gross margin expansion of 100 basis points (up from 80 bps); adjusted EBIT margin maintained at 11.4%-11.6%; tax rate maintained at approximately 23%; adjusted diluted EPS raised to $1.27-$1.32 (from $1.25-$1.30). Guidance assumes U.S. tariffs on imports from China remain at 30% and rest-of-world at 20% for the remainder of the year, and no significant worsening of macroeconomic pressures, inflationary pressures, recessionary concerns, supply chain disruptions, or currency impacts.

LEVI YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$500.0M$1.0B$1.5B$1.5B$1.5BRevenue$910.7M$951.6MGross Profit$30.3M$167.4MOperating Income$20.7M$122.0MNet Income
$0$500.0M$1.0B$1.5BRevenueGross ProfitOperating IncomeNet Income

LEVI Revenue by Segment

Levi's$1.5B+6.8%
Direct-to-Consumer$711.2M+11.3%
Wholesale$832.2M+3.5%
Levi Strauss Signature$59.6M+21.1%
Beyond Yoga$33.0M+2.5%

LEVI Revenue by Geography

Americas$806.4M+6.5%
Europe$426.3M+4.8%
Asia$277.7M+12.4%

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