Levi Strauss (LEVI) Q1 2026 Earnings
How Did LEVI Stock React to Q1 2026 Earnings?
S&P 500 over the same 30 days: +9.11%.
Did LEVI Beat Earnings? Q1 2026 Results
Yes. Levi Strauss reported Q1 2026 earnings of $0.42 a share on Apr 7, 2026, beating the $0.37 consensus estimate by 14.4%. Revenue was $1.7B against a $1.6B estimate.
Levi Strauss & Co. delivered a notably strong first quarter of fiscal 2026, posting adjusted diluted EPS of $0.42 against a consensus estimate of $0.37, a beat of 14.38%, while revenue of $1.74 billion topped expectations of $1.65 billion by 5.68% and climbed 14.1% year over year. The headline driver was broad-based momentum across channels and geographies, with the company's direct-to-consumer segment, now accounting for 52% of total net revenues, growing 16% on a reported basis and e-commerce accelerating 21%. Europe stood out with 24% reported revenue growth, while Beyond Yoga continued its run with 23% expansion. Operating cash flow surged to $211.50 million from $52.50 million a year ago, reflecting improved working capital and proceeds from the completed Dockers divestiture. Encouraged by the results, Levi raised its full-year fiscal 2026 guidance, now targeting reported revenue growth of 5.5% to 6.5% and adjusted diluted EPS of $1.42 to $1.48, with at least one analyst maintaining a buy rating and a $27 price target heading into the print.
- Broad-based growth across channels, regions, and categories
- DTC-first denim lifestyle brand transformation capturing larger addressable market
- DTC net revenues grew 16% on a reported basis, comprising 52% of total net revenues
- E-commerce grew 21% on a reported basis and 17% organic
- DTC comparable sales growth of 7%
- Wholesale net revenues increased 12% reported and 8% organic
- Beyond Yoga brand grew 23%
- Favorable foreign currency exchange rate impact
- Price increases and reduced promotional activity partially offset tariff headwinds
“We delivered very strong financial performance in the first quarter driven by broad-based growth across channels, regions and categories. Our evolution into a DTC-first denim lifestyle brand is allowing us to capture a much larger addressable market and deliver faster and more consistent growth. Today we are operating from a stronger foundation, executing with focus and intention, with more ways to win than ever before.”
Levi Strauss CEO, on the earnings call
What Was Levi Strauss's Outlook in Q1 2026?
Levi Strauss raised its full-year fiscal 2026 guidance across all key metrics. Reported net revenue growth is now expected at 5.5% to 6.5% (up from 5% to 6%), organic net revenue growth at 4.5% to 5.5% (up from 4% to 5%), gross margin flat to slightly up versus prior year (up from flat), adjusted EBIT margin expanding to approximately 12% (up from 11.8% to 12%), and adjusted diluted EPS of $1.42 to $1.48 (up from $1.40 to $1.46), which includes an approximate $0.04 headwind from a higher tax rate of approximately 23%. Guidance assumes U.S. tariffs on imports from China at 30% and rest-of-world at 20%, and no significant worsening of macroeconomic pressures, supply chain disruptions, or currency fluctuations.
LEVI YoY Financials
| Metric | Q1 2026 | Q1 2025 | Year over year |
|---|---|---|---|
| Revenue | $1.7B | $1.5B | +14.1% |
| Gross Profit | $1.1B | $947.6M | +13.8% |
| Operating Income | $198.7M | $191.6M | +3.7% |
| Net Income | $177.1M | $135.0M | +31.2% |
LEVI Revenue by Segment
LEVI Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.