Record earnings, guidance hike lift Adidas shares

adidas AG

Yesterday 07:18

** Shares in Adidas ADSGn.DE are seen up 3% in pre-market trade after the German sportswear maker raised its full-year profit outlook and reported a 37% jump in quarterly earnings on Tuesday 
** Its Q3 operating profit rose to a record €1.008 billion ($1.13 billion) from €736 million a year earlier, helped by a US tariff refund and full-price sales
** The company now expects 2026 operating profit of €2.5 billion, up from a previous forecast of €2.3 billion
** Adidas said the tariff refund, following a US court ruling, totalled around €200 million, with about €100 million to be reinvested in Q4
** The unscheduled preliminary earnings release came ahead of Adidas' full financial results due on Oct. 29
** Up to the previous session's close, shares were down 6.5%​ YTD
     
     
($1 = 0.8910 euros)

(Reporting by Basile Day)
((Basile.Day@thomsonreuters.com))