EarningsQ2 2026 Earnings Report
MX:RMSN Q2 2026 EPS Results
Actual EPS$434.56
Consensus EPS$426.41
Beat/MissBeat by +$8.15
One Year Ago EPS$435.99
MX:RMSN Q2 2026 Revenue Results
Actual Revenue$166.38B
Expected Revenue$82.73B
Beat/MissBeat by +$83.65B
YoY Revenue Growth+1.61%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
MX:RMSN Upcoming Earnings
Hermes International's next earnings date is estimated for February 11, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:RMSN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive operating and financial performance: resilient top-line growth with Q2 acceleration, an exceptionally high operating margin (41%), strong cash conversion and a robust balance sheet, alongside ongoing investments in production capacity and retail. Key challenges are material: significant FX and hedging headwinds that reduced reported growth (~EUR 360m / -4.5pp), a disappointing perfume/travel retail performance, stabilization but no clear rebound in Greater China demand, geopolitical-related softness in the Middle East, and a higher exceptional tax burden. On balance, operational strength (desirability of product, margin, cash generation, and disciplined investment) outweighs the downside impacts highlighted by management.Company Guidance
Solid Revenue Growth and Q2 Acceleration
Revenue of EUR 8.2 billion in H1 2026, up 6% at constant exchange rates and up 2% at current exchange rates. Q2 sales of EUR 4.1 billion, +7% (acceleration versus Q1).
Very Strong Operating Profitability
Recurring operating income of EUR 3.4 billion and operating profitability (operating margin) at a very high level of 41%, broadly stable vs prior year.
Robust Cash Generation
Cash flow reached EUR 2.7 billion (up 16% YoY) and adjusted available cash flow was EUR 2.2 billion, up 18% YoY, driven by exceptional sell-through and tight inventory/WCR management.
High Gross Margin and Inventory Management
Gross margin improved to 71.1% (up 0.4 percentage points YoY), supported by excellent stock management and strong sell-through of recent collections.
Strong Regional Performances
Notable geographic strength: Americas +15%, Japan +11%, Europe ex-France +9%; Asia ex-Japan +2% with Korea performing exceptionally well. France +2% (improving in Q2).
Division Momentum Outside Perfume
Leather goods and saddlery showed strong momentum (transcript indicates ~+10%); Silk & textile +10%; clothing & accessories +2%; other divisions (mainly jewelry and home) +5%. Watches stable with Q2 progress.
Continued Investment in Capacity, Network and Jobs
Operating investments in H1 of EUR 344 million (with FY target ~EUR 1 billion). Inaugurated 25th leather workshop, announced further workshops (2027–2030 pipeline) and created 600 new jobs in the quarter; >27,000 employees total (61% in France).
Very Strong Balance Sheet
Restated net cash of EUR 12.9 billion at 30 June 2026; equity EUR 19 billion (cash ~50% of equity). EUR 1.9 billion dividend paid.
MX:RMSN Earnings History
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