Levi Strauss (LEVI) Q1 2026 Earnings
Reported Apr 7, 2026 at 4:12 PM ET · SEC Source
Q1 26 EPS
$0.42
BEAT +14.38%
Est. $0.37
Q1 26 Revenue
$1.74B
BEAT +5.68%
Est. $1.65B
vs S&P Since Q1 26
+5.6%
BEATING MARKET
LEVI +16.0% vs S&P +10.5%
Market Reaction
Did LEVI Beat Earnings? Q1 2026 Results
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% an… Read more 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.
Key Takeaways
- • 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
LEVI Forward Guidance & Outlook
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
Q1 2026 vs Q1 2025, source: SEC Filings
LEVI Revenue by Segment
With YoY comparisons, source: SEC Filings
LEVI Revenue by Geography
With YoY comparisons, source: SEC Filings
“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.”
— Michelle Gass, Q1 2026 Earnings Press Release
LEVI Earnings Trends
LEVI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LEVI EPS Trend
Earnings per share: estimate vs actual
LEVI Revenue Trend
Quarterly revenue: estimate vs actual
LEVI Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.37 | $0.42 | +14.38% | $1.74B | +5.68% |
| Q4 25 BEAT FY | $0.39 | $0.41 | +4.65% | $1.77B | +3.11% |
| FY Full Year | $1.33 | $1.34 | +0.93% | $6.28B | +0.85% |
| Q3 25 BEAT | $0.31 | $0.34 | +11.04% | $1.54B | +2.99% |
| Q2 25 BEAT | $0.13 | $0.22 | +63.57% | $1.45B | +5.57% |