Earnings call transcript: Moncler Q3 2026 sales soften as stock stays near lows

Moncler released its third-quarter earnings results for 2026, revealing mixed performance and a flat Q3 sales figure at EUR 606 million. The company reported a 6% rise in group revenue to EUR 1.895 billion on a constant exchange rate basis, but the slowdown in Q3 sales was attributed to warmer weather and weaker tourist traffic.

Moncler's shares were last trading at $42.94, up 1.32% from the previous close, but the stock remains near the bottom of its 52-week range of $42.10 to $59.40. Despite the weak earnings, Moncler maintains strong gross profit margins of 78%, and the Stone Island brand showed stronger performance with an 8% rise in revenue for the nine months and 5% growth in Q3.

The company plans to invest more in spring/summer products in 2027, noting the success of this category in 2026. Management emphasized the importance of China as a key market for Moncler, with strong conversion rates when tourist traffic returns.