The raised low-end of full-year guidance and Q4 EPS outlook of $1.85-$2.10 (vs $1.73 last year) suggest momentum into the holiday season. Watch Q4 wholesale shipments and U.S. DTC trends for confirmation of the Fall 2026 order book shift. Operating cash flow guidance was lowered to $230M-$250M (from $290M-$310M) due to earlier Spring 2027 inventory production, which bears monitoring for working capital efficiency.
Price Chart
Executive Summary
Columbia Sportswear reported Q3 2026 net sales of $962.6M (+2% YoY) and diluted EPS of $1.66, exceeding consensus estimates of $938.6M and $1.28. The company raised the low end of its full-year 2026 revenue and EPS guidance, now expecting net sales of $3.46B-$3.50B (prior $3.43B-$3.50B) and diluted EPS of $4.65-$4.90 (prior $4.45-$4.90). Results benefited from earlier-than-expected shipments of delayed Fall 2026 wholesale orders and improved U.S. DTC trends, though U.S. net sales declined 1% and gross margin contracted 20 bps to 49.8%.
Key Financial Metrics
Key Facts
- Q3 2026 net sales of $962.6M, up 2% YoY (2% constant-currency), vs consensus $938.6M
- Q3 2026 diluted EPS of $1.66, up from $0.95 YoY, vs consensus $1.28
- Full-year 2026 net sales guidance raised to $3.46B-$3.50B (prior $3.43B-$3.50B), representing 2.0%-3.0% growth
- Full-year 2026 diluted EPS guidance raised to $4.65-$4.90 (prior $4.45-$4.90)
- Q3 gross margin contracted 20 bps to 49.8% due to accommodations to factory partners, partially offset by IEEPA tariff refunds
- U.S. net sales declined 1% YoY; international markets grew led by LAAP (+11%) and EMEA (+7%)
- Inventories increased 11% YoY to $889.2M, reflecting delayed Fall 2026 receipts and earlier Spring 2027 production
- Company repurchased $200M of stock YTD; $226.5M remains under authorization
- Quarterly dividend of $0.30 per share declared
Financial Impact
Q3 EPS of $1.66 beat consensus of $1.28 by 29.7%; revenue of $962.6M beat consensus of $938.6M by 2.6%
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| United States | $540.9M | -1.0% |
| Latin America and Asia Pacific | $159.5M | +11.0% |
| Europe, Middle East and Africa | $175.3M | +7.0% |
| Canada | $87.0M | -2.0% |
Risk Factors
- U.S. net sales declined 1% in Q3 and are down 5% YTD, indicating persistent domestic weakness
- Gross margin contracted 20 bps in Q3 due to factory partner accommodations; full-year margin expansion relies on IEEPA tariff refunds which may not recur
- Inventory increased 11% YoY to $889.2M, raising risk of future markdowns if demand softens
- Operating cash flow guidance reduced by $60M due to earlier Spring 2027 production, pressuring free cash flow
- Tariff policy uncertainty and geopolitical tensions in the Middle East remain headwinds
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001050797-26-000148 |
| Document: cfocommentaryq32026_vf.htm | 0001050797-26-000148 |
| Document: colm-20261029.htm | 0001050797-26-000148 |
| Document: 0001050797-26-000148-index-headers.html | 0001050797-26-000148 |
| Document: 0001050797-26-000148-index.html | 0001050797-26-000148 |
| Document: 0001050797-26-000148.txt | 0001050797-26-000148 |
| 8-K Data (Synthetic) | 0001050797-26-000148 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | 8-K | $64.40 | awaiting T+20 | awaiting T+20 | $67.54 (+4.88%) |
Oct 8, 2026 24d ago | SC 13G | $56.76 | awaiting T+20 | awaiting T+20 | $67.54 (+18.99%) |
Jun 16, 2026 19w ago | 8-K | $63.98 $64.33 | ▲ +0.55% | ▼ −0.77% | $67.54 (+5.56%) |
Jun 1, 2026 21w ago | Insider Cluster | $66.57 $63.69 | ▼ −4.33% | ▼ −2.76% | $67.54 (+1.46%) |
May 29, 2026 22w ago | Insider Cluster | $66.01 $61.82 | ▼ −6.35% | ▼ −5.05% | $67.54 (+2.32%) |
Apr 30, 2026 26w ago | 8-K | $62.35 $66.01 | ▲ +5.87% | ▲ +0.59% | $67.54 (+8.32%) |
Apr 24, 2026 27w ago | DEFA14A | $61.08 $65.81 | ▲ +7.74% | ▲ +2.79% | $67.54 (+10.58%) |
US Market Status
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