Filing Flows › lululemon athletica (LULU) › Q3 FY26
lululemon athletica (LULU) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Dec 11, 2025
lululemon athletica (LULU) reported revenue of $2.6B for the third quarter fiscal 2026 (Q3 FY26), +7% from a year earlier and +2% from the quarter before. Operating margin was 17.0%, net earnings $307M (12.0% of revenue).
lululemon athletica, Q3 FY26: revenue $2.6B (+7% year over year), operating margin 17.0%, net earnings $307M, operating cash flow $250M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.6B | +2% | +7% |
| Gross profit | $1.4B | -3% | +2% |
| Operating profit | $436M | -17% | -11% |
| Net earnings | $307M | -17% | -13% |
| Operating cash flow | $250M | -24% | -17% |
| Free cash flow | $82.4M | -45% | -33% |
What changed
Revenue was $2.6B in Q3 FY26, up 7% year over year and up 2% from the previous quarter. Women's apparel was the largest line at 64% of revenue. Women's apparel added $0.09B year over year (up 6%), 53% of the total change.
Gross margin was 55.6%, down 2.9 points from a year earlier. Operating profit was $0.44B, a 17.0% margin (down 3.5 points year over year). Operating profit fell $0.05B even though revenue rose $0.17B versus a year earlier, so costs grew faster than sales. Operating expenses grew 9% against revenue growth of 7%. Net earnings were $0.31B, down 13% year over year. The effective tax rate was 30.5%.
Operating cash flow was $0.25B (down 17% year over year), 81% of net earnings. Non-cash charges added back $0.13B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.20B. Capital expenditures of $0.17B left free cash flow of $0.08B.
Questions
What was lululemon athletica's revenue in the third quarter fiscal 2026?
lululemon athletica (LULU) reported revenue of $2.6B for the third quarter fiscal 2026 (Q3 FY26), +7% from a year earlier and +2% from the quarter before.
Was lululemon athletica profitable in the third quarter fiscal 2026?
Operating profit was $436M (17.0% of revenue) and net earnings $307M.