Adidas stock slips as investors weigh higher 2026 profit outlook

Published on 11/11/2026 at 17:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adidas stock traded at 177.25 euros on Wednesday afternoon. Record third-quarter results and higher 2026 profit guidance remain in focus.

Adidas balances strong results and execution risks

Third-quarter revenue rose 9 percent to a record 7.252 billion euros, while operating profit increased 37 percent to 1.008 billion euros.
Adidas raised its 2026 operating-profit outlook to 2.5 billion euros, but a 200 million euro tariff refund supported the margin improvement.
Europe remained weaker than other major regions, while direct-to-consumer sales and apparel delivered strong growth.

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Adidas stock traded at 177.25 euros on Lang & Schwarz at 17:01 CET on Wednesday, November 11, 2026, 0.62 percent below the Xetra close of Tuesday, November 10. The move followed a morning quote of 179.45 euros in the latest relevant report, leaving the stock 1.23 percent lower since that report.

Record quarter supports higher guidance

Adidas reported record third-quarter results on October 29, 2026, and raised its full-year operating-profit outlook. The adidas investor-relations page lists the October 29 release among the companys latest financial announcements.

Revenue rose 9 percent year over year to 7.252 billion euros, while operating profit increased 37 percent to 1.008 billion euros. The operating margin reached 13.9 percent, and net income from continuing operations rose 48 percent to 711 million euros.

Adidas now expects currency-neutral revenue growth of 9 to 10 percent in 2026 and operating profit of 2.5 billion euros, compared with a previous target of 2.3 billion euros. The higher outlook includes a tariff refund of around 200 million euros and planned fourth-quarter reinvestment of around 100 million euros.

What changed since the latest report

The latest Lang & Schwarz quote is 2.20 euros below the 179.45-euro level cited in the companys November 11 pre-market report. This separate comparison reflects the change since that report, while the 0.62 percent daily comparison uses the previous Xetra close.

Operational momentum remains uneven. Direct-to-consumer revenue increased 17 percent on a currency-neutral basis and apparel revenue rose 19 percent, while footwear revenue was flat. Europe was the main weak spot, with revenue down 4 percent as elevated inventories and promotional pressure affected lifestyle footwear.

Investor focus shifts to execution

The stronger 2026 outlook gives Adidas a higher earnings base, but the quality of the improvement matters for investors because the tariff refund is not a recurring operating driver. Future performance will depend on maintaining full-price sales, converting demand in direct channels and improving European wholesale momentum.

The wider German market is tracked through the DAX.

For further company coverage, see More news and analyses on Adidas stock.