Filing Flows › Levi Strauss (LEVI) › Q1 FY26
Levi Strauss (LEVI) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Apr 7, 2026
Levi Strauss (LEVI) reported revenue of $1.7B for the first quarter fiscal 2026 (Q1 FY26), +14% from a year earlier and -1% from the quarter before. Operating margin was 11.4%, net earnings $176M (10.1% of revenue).
Levi Strauss, Q1 FY26: revenue $1.7B (+14% year over year), operating margin 11.4%, net earnings $176M, operating cash flow $212M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | -1% | +14% |
| Gross profit | $1.1B | +0.5% | +14% |
| Operating profit | $199M | -6% | +4% |
| Net earnings | $176M | +11% | +30% |
| Operating cash flow | $212M | -21% | +303% |
| Free cash flow | $152M | — | — |
What changed
Revenue was $1.7B in Q1 FY26, up 14% year over year and down 1% from the previous quarter. Americas was the largest line at 49% of revenue. Europe added $0.10B year over year (up 24%), 44% of the total change.
Gross margin was 61.9%, down 0.2 points from a year earlier. Operating profit was $0.20B, a 11.4% margin (down 1.1 points year over year). Of the extra revenue versus a year earlier, 3% reached operating profit, below the 13% margin then. Operating expenses grew 16% against revenue growth of 14%. The fastest-growing cost line was Other operating costs (+18%). Net earnings were $0.18B, up 30% year over year. The effective tax rate was 22.5%.
Operating cash flow was $0.21B (up 303% year over year), 120% of net earnings. Non-cash charges added back $0.06B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.04B. After purchases of property, plant and equipment ($0.06B), adjusted free cash flow as the company reports it was $0.15B.
Questions
What was Levi Strauss' revenue in the first quarter fiscal 2026?
Levi Strauss (LEVI) reported revenue of $1.7B for the first quarter fiscal 2026 (Q1 FY26), +14% from a year earlier and -1% from the quarter before.
Was Levi Strauss profitable in the first quarter fiscal 2026?
Operating profit was $199M (11.4% of revenue) and net earnings $176M.
Source: Levi Strauss 10-Q on SEC EDGAR.