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Adidas (ADDYY) Q3 Earnings & Sales Improve, Reiterates View

Zacks Equity Research
Updated

Sporting goods company, Adidas AG ADDYY came out with third-quarter 2017 results, wherein the company’s net income from continuing operations improved about 35% to €549 million (approximately $645.1 million).

For 2017, management continues to envision net income from continuing operations to rise 26% - 28% to €1.360 - €1.390 billion.

Adidas AG Price and EPS Surprise

Adidas AG Price and EPS Surprise | Adidas AG Quote

Revenues: Adidas generated revenues of €5,677 million ($6,670.8 million) that advanced nearly 9% year over year. Revenue growth was driven by persistent strength in North America, Greater China and e-commerce. The Zacks Consensus Estimate stood at $7,074 million. Revenues jumped 12% on a currency-neutral basis, mainly backed by 13% sales growth at the adidas brand driven by strength in running and outdoor categories.

The company reiterated its currency-neutral sales growth guidance in the range of 17%-19% for 2017.

Zacks Rank: Currently, Adidas carries a Zacks Rank #3 (Hold) which is subject to change following the just released earnings results. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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