Adidas says it now expects full-year operating profit near €2.5bn

The company points to a figure above the €2.3bn guidance it held as recently as July

Adidas said on Tuesday that it now expects full-year operating profit of about €2.5 billion, up from the roughly €2.3 billion it had been guiding to.

That prior figure had stood since the company's Q2 2026 results on July 30, when it raised revenue guidance but left profit guidance unchanged, according to an adidas AG press release carried by EQS News. Shares fell more than 18% on that day, which Yahoo Finance reported would be the steepest single-day percentage loss in the company's history as a listed firm, after operating profit of €574 million came in below the €623 million analysts had expected, according to the Wall Street Journal as cited by Yahoo Finance.

Adidas has raised its profit outlook repeatedly over the past two years as it worked through the aftermath of the Yeezy writedowns and an inventory glut. In October 2025 it lifted 2025 guidance to about €2.0 billion from a prior range of €1.7-1.8 billion, according to an adidas Group press release, and in the first quarter of 2024 it raised its outlook to around €700 million from around €500 million, partly on Yeezy inventory sales, according to TipRanks.

A second upgrade to full-year guidance within this cycle points to a turnaround that has moved faster than the company itself had been forecasting only months ago. Lifting the target from about €2.3 billion to roughly €2.5 billion also narrows the gap with the profit levels adidas posted before the Yeezy crisis, suggesting the recovery is steeper than analysts had modeled. The repeated upgrades raise the bar for the next earnings report, since another cut to guidance would now read as a reversal rather than simple caution, after two years in which adidas mostly managed expectations down.