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Dec 31, 2025
Columbia Q4 2025 Earnings Report
Columbia Sportswear Company reported a decrease in net sales and operating income for the fourth quarter of 2025, with diluted earnings per share also declining.
Key Takeaways
Columbia Sportswear Company announced its fourth quarter and full year 2025 financial results, reporting a 2% decrease in net sales to $1,070.2 million for Q4 2025. Operating income fell by 15% to $116.7 million, and diluted earnings per share decreased to $1.73 from $1.80 in the prior year. Despite the sales decline, gross margin expanded by 50 basis points to 51.6%.
Net sales for Q4 2025 decreased by 2% (3% on a constant-currency basis) to $1,070.2 million compared to Q4 2024.
Gross margin expanded by 50 basis points to 51.6% of net sales in Q4 2025, despite $20.0 million in incremental U.S. tariffs.
Operating income decreased by 15% to $116.7 million, representing 10.9% of net sales.
Diluted earnings per share for Q4 2025 were $1.73, down from $1.80 in Q4 2024.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the full year 2026, Columbia Sportswear Company expects net sales growth of 1.0% to 3.0%, with operating income projected between $211 million and $243 million, and diluted earnings per share between $3.20 and $3.65. Gross margin is expected to contract due to incremental U.S. tariffs.
Positive Outlook
- Net sales are expected to increase by 1.0% to 3.0% compared to 2025, reaching $3.43 to $3.50 billion.
- Operating income is projected to be between $211 million and $243 million, representing an operating margin of 6.2% to 6.9% of net sales.
- Diluted earnings per share are expected to be $3.20 to $3.65.
- Operating cash flow is expected to be strong, ranging from $300 million to $330 million.
- Capital expenditures are planned to be in line with historical run rates, between $65 million and $75 million.
Challenges Ahead
- Gross margin is expected to contract by 70 to 50 basis points to 49.8% to 50.0% of net sales.
- Gross margin expectations include a roughly 300 basis point unfavorable impact from incremental tariffs prior to mitigation actions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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