Levi Strauss & Co (LEVI) reported its first-quarter 2026 earnings after the market closed on Tuesday, and investors seem to like what they see. The denim giant posted numbers that beat expectations and raised its outlook for the full year, sending its stock higher in after-hours trading.
Here’s the breakdown: Levi’s brought in revenue of $1.74 billion for the quarter, topping the $1.65 billion that analysts were looking for. On the bottom line, adjusted earnings came in at 42 cents per share, beating estimates of 37 cents per share, according to market data.
Total revenue was up 14% compared to the same period last year. That growth was pretty broad-based: sales rose 9% in the Americas, 24% in Europe, and 13% in Asia. Direct-to-consumer revenue—think sales through Levi’s own stores and website—climbed 16%, while wholesale revenue increased 12%. The company ended the quarter with $717 million in cash and equivalents, and total inventories were up 4% on a dollar basis.
“We delivered very strong financial performance in the first quarter driven by broad-based growth across channels, regions and categories,” said Michelle Gass, president and CEO of Levi Strauss. “Our evolution into a DTC-first denim lifestyle brand is allowing us to capture a much larger addressable market and deliver faster and more consistent growth.”
Looking ahead, Levi’s is feeling optimistic enough to raise its guidance. The company now expects full-year 2026 revenue to be in the range of $6.63 billion to $6.69 billion, up from its previous forecast of $6.60 billion to $6.66 billion. Analysts were expecting about $6.64 billion. On the earnings side, Levi’s raised its adjusted EPS guidance to a range of $1.42 to $1.48 per share, up from $1.40 to $1.46. The consensus estimate was $1.47 per share.
In other news, the company announced that Harmit Singh, the executive vice president, chief growth officer and CFO, is set to retire. Singh will continue in his role until a successor is appointed, and then he’ll serve as a special advisor to the company before stepping away for good.
Management will discuss the quarter in more detail on an earnings call scheduled for 5 p.m. ET. In the meantime, investors are showing their approval: Levi Strauss shares were up 4.77% in after-hours trading on Tuesday, changing hands at $20.65 at the time of publication.
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