Columbia Sportswear Co

Latest Results (15.05.2026):

Columbia Sportswear Company — First Quarter 2026: Columbia reported net sales of $779.0 million in Q1 2026 (relatively flat vs. Q1 2025; a 3% decline on a constant‑currency basis), with operating income of $42.0 million and diluted EPS of $0.65. Gross margin was 50.7% (down 20 basis points), the Company exited the quarter with $535.4 million of cash and short‑term investments and no borrowings, and repurchased $150.0 million of common stock during the quarter. Management updated full‑year 2026 guidance, raising margin and EPS ranges largely due to temporary lower U.S. tariff rates through July 2026.

Net sales and regional trends

Net sales $779.0M (Q1 2026 vs. $778.5M Q1 2025). International markets showed growth (Europe strong), while U.S. sales declined due to a lower Spring 2026 wholesale order book and intentional reduced winter-season supply related to prior tariff actions. Constant‑currency net sales declined ~3%.

Profitability and margin drivers

Gross margin 50.7% (down 20 bps). Company cites a ~310 bps headwind from unmitigated incremental U.S. tariffs in the quarter, partially offset by mitigation (price increases). SG&A was $357.1M (45.8% of sales), modestly higher year‑over‑year.

Income, EPS and taxes

Operating income $42.0M (down 10% vs. prior year), operating margin 5.4% of sales. Net income $34.3M; diluted EPS $0.65 vs. $0.75 in Q1 2025. Effective tax rate 27.4% (vs. 23.0% prior year). Foreign currency translation provided a modest favorable impact to earnings.

Liquidity, cash flow and buybacks

Cash, cash equivalents and short‑term investments totaled $535.4M; no borrowings. Net cash used in operating activities was $77.5M in Q1. The Company repurchased 2,498,685 shares for $150.0M (avg $60.03/share); ~$276.5M remains available under the repurchase authorization.

Balance sheet and inventory

Inventories essentially flat at ~$624.0M. Total shareholders’ equity was $1.582B and total assets ~$2.564B as of March 31, 2026.

Dividend

Board declared a quarterly cash dividend of $0.30 per share, payable June 4, 2026 to shareholders of record on May 21, 2026.

Updated full‑year 2026 outlook

Net sales $3.43–3.50B (1.0–3.0% growth). Gross margin 50.3–50.5% (improved from prior range, reflecting temporary lower U.S. tariffs). Operating income $230–262M (operating margin 6.7–7.5%). Diluted EPS $3.55–4.00 (prior $3.20–3.65). Operating cash flow guidance $300–330M; capex $65–75M.

Second quarter 2026 outlook

Q2 net sales expected $600–610M (≈ flat year‑over‑year). Company expects an operating loss of 5.5–4.5% of sales and diluted loss per share of $0.46–$0.37, reflecting tariff impacts and SG&A deleverage in the quarter.

Strategy and management commentary

Management reiterated its ACCELERATE growth strategy (targeting younger/active consumers) and noted momentum internationally and signs of U.S. recovery later in 2026. They flagged geopolitical uncertainty (Middle East) and tariff volatility as key external risks that continue to influence near‑term performance and guidance.