Here's Why Birkenstock Stock Jumped Up Today
Shares of sandal company Birkenstock (NYSE: BIRK) jumped on Wednesday after the company reported its financial results for its fiscal fourth quarter of 2024, capping off a strong year of growth and profitability. As of 9:45 a.m. ET, Birkenstock stock was up 7% but it had been up as much as 12% earlier in the day.
Birkenstock had a great fiscal 2024. The fiscal year ended on Sept. 30 and during those 12 months, revenue jumped by 21% from its fiscal 2023. And its net profit made an even more impressive jump of 155%. It beat expectations on both the top and bottom lines.
Some outlets are reporting that Birkenstock's guidance was below estimates from professional analysts. But the market appears to be shrugging that off today because the guidance is nevertheless relatively strong.
Source Fool.com
