Levi Strauss & Co. (NYSE: LEVI) Beats EPS Estimates, Raises Outlook Despite Revenue Miss

• Earnings Beat & Raised Outlook: Levi Strauss & Co. (NYSE: LEVI) exceeded EPS estimates for Q3 and raised its full-year adjusted earnings forecast, partly due to tariff refunds.
• Revenue Miss & Lowered Sales Guidance: Despite the earnings beat, revenue slightly missed estimates, leading to a revised, lower full-year net revenue growth projection.
• Improved Operating Margin: The company's operating margin significantly increased to 13.8%, also benefiting from tariff refunds and growth in international and wholesale segments.

Levi Strauss & Co. (NYSE: LEVI) reports earnings per share of $0.48, above the $0.36 estimate, for its fiscal third quarter. Revenue comes in at $1.61 billion, just below the $1.62 billion estimate. Levi Strauss, known for its jeans and other apparel, reports these results on October 7, 2026, before the market closes.

The earnings beat comes with a higher full-year outlook. Levi now expects adjusted earnings of $1.54–$1.56 per share, up from $1.46–$1.52. Adjusted earnings leave out certain costs or gains to show how the core business performs. Tariff refunds help lift the forecast, as highlighted by The Wall Street Journal and CNBC.

The revenue miss sits alongside a lower sales forecast. Levi now expects full-year net revenue growth of 7%, the bottom of its earlier 7%–7.5% range. Fiscal third-quarter revenue rises 4% in the Americas but falls 1% in the U.S., as highlighted by CNBC.

Levi’s operating margin rises to 13.8% from 10.8% a year earlier, helped by tariff refunds, as highlighted by CNBC. Operating margin shows how much of each sales dollar remains after operating costs. CEO Michelle Gass also points to growth in international and wholesale businesses, as highlighted by Business Wire.

Levi has a trailing price-to-earnings ratio of 12.84, meaning its shares trade at 12.84 times earnings from the past year. Its current ratio is 1.63, a measure of its ability to cover near-term bills. The shares are roughly flat in extended trading after initially rising, as highlighted by CNBC.