Pandora Q3 organic revenue rises on APAC growth, narrows guidance

Pandora A/S

04/11/2026 06:39

Overview
Denmark jewellery maker's Q3 organic revenue grew 6%, with like-for-like sales up 4%
Q3 EBIT margin rose to 15.9%, lifted by one-off US tariff refund
Company narrowed 2026 guidance to 2-3% organic growth and 22.5-23% EBIT margin

Outlook
Pandora narrows 2026 organic growth guidance to 2-3% from 0-3%
Company expects 2026 EBIT margin of 22.5-23%
Pandora raises 2027 EBIT margin target to 14-15% including one-offs, 15.5-16.5% excluding one-offs

Result Drivers
TARIFF REFUND - One-off US tariff refund boosted Q3 gross margin and EBIT margin
EFFICIENCIES AND PROMOTIONAL DISCIPLINE - Co said improved operational efficiencies and reduced promotional activity supported underlying gross margin
ASIA-PACIFIC GROWTH - Strong like-for-like sales growth in Asia-Pacific contributed to overall organic growth

Company press release: ID:nGNEbCVyYk

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
 
DKK 6.69 bln
 
Q3 EBIT
 
DKK 1.06 bln
 
Q3 EBIT Margin
 
15.90%
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 13 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the apparel & accessories peer group is "buy."
Wall Street's median 12-month price target for Pandora A/S is DKK850.00, about 2.5% above its November 3 closing price of DKK829.40
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 16 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)