Columbia Sportswear (COLM) Q2 2026 Earnings Report

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Previous Report: Q1 2026

COLM Q2 2026 EPS Results

Actual EPS$0.52

Consensus EPS-$0.39

Beat/MissBeat by +$0.91

One Year Ago EPS-$0.19

COLM Q2 2026 Revenue Results

Actual Revenue$614.36M

Expected Revenue$606.97M

Beat/MissBeat by +$7.38M

YoY Revenue Growth+1.50%

Earnings Announcement Details

QuarterQ2 2026

Date07/30/2026

TimeAfter Close

Conference CallThursday, July 30, 2026

COLM Upcoming Earnings

Columbia Sportswear's next earnings date is estimated for October 22, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

COLM Q2 2026 Earnings Call

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Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Jul 30, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call described a mix of tangible progress and notable headwinds. Highlights include solid international growth (international +9%), footwear momentum, stronger order books for spring 2027 and fall 2026, marketing wins, and a fortified balance sheet ($625M cash, no debt). However, underlying Q2 profitability and margins were weaker when adjusted for a one-time $78M tariff refund, U.S. sales (down 4%) and brick-and-mortar traffic were soft, promotional activity increased, and supply chain/tariff uncertainty shifted shipments and added timing risk to the back half. Management maintained full-year sales guidance (1%-3%) and raised reported margin and EPS ranges to reflect the refund, but emphasized caution for Q3 and second-half timing risks. Overall, positives (international growth, strategic traction, footwear/product momentum, balance sheet strength) are balanced by meaningful near-term challenges (U.S. demand softness, margin pressure excluding refunds, supply chain and tariff uncertainty), resulting in a neutral tone.

Company Guidance

Columbia guided Q3 net sales down 1.5% to flat and EPS of $1.15–$1.35; for the full year it maintained net sales growth of 1%–3% and raised reported gross margin to 52.1%–52.3% (up 160–180 bps), expects SG&A of 43.6%–44.2% of sales, reported operating margin of 8.5%–9.3%, and reported diluted EPS of $4.45–$4.90 with an assumed full‑year tax rate of ~25%. The outlook assumes current U.S. tariff rates of 10%–12.5% through year‑end, factors a $15M second‑half benefit to cost of sales from IEEPA refund activity (after recognizing ~$78M of refunds and interest in Q2, including roughly $60M to operating margin, $2M interest income and $15M to inventory), and anticipates a Q3 gross‑margin headwind from factory accommodations followed by a Q4 tailwind. Management also disclosed a timing shift north of $30M (predominantly North America) moving shipments from Q3 into Q4, noted the spring 2027 wholesale order book pacing mid‑single‑digit growth with ~90% of orders in, and highlighted inventories down 6% in dollars and 7% in units, and a strong balance sheet with $625M cash/short‑term investments and no debt.

Company-wide Net Sales Growth

Net sales increased 2% year-over-year to $614 million in Q2, driven by international growth and global e-commerce, partially offset by a weaker U.S. performance.

Strong International Performance

International net sales rose 9% year-over-year, with notable contributions: LAAP +13%, LAAP distributor markets mid-20% growth, EMEA up high single-digit overall, Europe direct up low double-digit, Japan up low double-digit, Korea up low double-digit, and China up mid-single-digits (strong 618 festival performance).

One-Time Tariff Refunds Boost Reported Margins and EPS

Recognized approximately $78 million in U.S. IEEPA tariff refunds and interest in Q2 (accounted as ~$60M benefit to operating margin, ~$2M interest income, and ~$15M reduction to inventory). Reported gross margin expanded ~920 basis points to 58.3% and reported EPS was $0.52 (note this was materially impacted by the one-time refunds).

Footwear Momentum

Footwear grew high single-digit % globally in Q2, driven by technical offerings (Omni-Max styles such as Tellurax and Peakfreak; Konos trail running), with the Tellurax selling out and strong media/product award recognition.

Emerging Brands Showing Strength

prAna net sales increased 14% (double-digit wholesale, high single-digit DTC e‑commerce); Mountain Hardwear net sales grew 6% (double-digit DTC growth); Columbia brand net sales up 1% (international growth offset U.S. declines).

Healthy Balance Sheet and Inventory Position

Exited the quarter with $625 million in cash and short-term investments and no debt; inventories down 6% in dollars and units down 7% versus prior year.

Order Book Momentum for Future Seasons

Spring 2027 wholesale order book nearly complete and indicating mid-single-digit % growth overall with footwear outpacing apparel; fall 2026 wholesale order book also showing mid-single-digit growth and broad-based contributions across brands and account tiers.

Marketing & Brand Recognition

Major creative wins and consumer engagement: 'Expedition Impossible' campaign earned multiple awards including the Cannes Lions Grand Prix and Dan Wieden Titanium Lions; Robert Irwin campaign attracted >3.7M views and >300K likes; grassroots Hike Society activations sold out in several markets.

COLM Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 22, 2026	2026 (Q3)	1.28 / -	1.41	―
Jul 30, 2026	2026 (Q2)	-0.39 / 0.52	-0.19	373.68% (+0.71)
Apr 30, 2026	2026 (Q1)	0.35 / 0.65	0.75	-13.33% (-0.10)
Feb 03, 2026	2025 (Q4)	1.20 / 1.73	1.8	-3.89% (-0.07)
Oct 30, 2025	2025 (Q3)	1.21 / 1.41	1.56	-9.62% (-0.15)
Jul 31, 2025	2025 (Q2)	-0.23 / -0.19	-0.2	5.00% (+0.01)
May 01, 2025	2025 (Q1)	0.66 / 0.75	0.71	5.63% (+0.04)
Feb 04, 2025	2024 (Q4)	1.90 / 1.80	1.55	16.13% (+0.25)
Oct 30, 2024	2024 (Q3)	1.41 / 1.56	1.7	-8.24% (-0.14)
Jul 25, 2024	2024 (Q2)	-0.34 / -0.20	0.14	-242.86% (-0.34)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed