Columbia Sportswear Q3 2026 profit rises to $84.7M
The updated 2026 outlook raises the low ends of sales and diluted EPS ranges but lowers projected operating cash flow.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Columbia Sportswear Company (COLM) reported third-quarter 2026 net sales of $962.6 million, up 2% year over year. Operating income was $109.6 million versus $67.4 million; net income was $84.7 million, or $1.66 per diluted share, versus $52.0 million, or $0.95. The 2025 quarter included $29.0 million of prAna and Mountain Hardwear impairment charges. Gross margin was 49.8%, down 20 basis points. Cash, cash equivalents and short-term investments totaled $229.6 million at September 30, 2026, with no borrowings.
Columbia raised the low ends of its 2026 net sales outlook to $3.46–$3.50 billion and diluted EPS outlook to $4.65–$4.90. Its outlook assumes current U.S. tariff rates remain through the end of 2026. Projected operating cash flow is $230–$250 million, versus prior guidance of $290–$310 million, reflecting earlier Spring 2027 production and higher expected year-end inventory. During the first nine months, it repurchased 3,342,569 shares for $200.0 million and declared a $0.30 quarterly dividend payable December 3, 2026, to shareholders of record November 19, 2026.
1 point · 0 major0 major · 1 point
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointQ3 net income: $84.7 million vs. $52.0 million; prior-year impairment: $29.0 million.
Negative
- Moderate point. Forward-looking: it has not happened yet and may not happen.2026 operating cash flow outlook: $230–$250 million, versus prior $290–$310 million.
Filing Explained
Tariff refunds increase reported 2026 EPS by $0.97, with $8 million still deferred until the related inventory sells.
This Form 8-K furnishes Columbia’s third-quarter results and updated 2026 outlook; as of
The year-over-year diluted EPS comparison reflects the absence of 2025 impairment charges: those charges reduced 2025 diluted EPS by
By
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Net sales: $962.6 million
Operating income: $109.6 million
Net income: $84.7 million
+5 more
8 metrics
Net sales
$962.6 million
Third quarter 2026; increased 2% from third quarter 2025
Operating income
$109.6 million
Third quarter 2026; compared with $67.4 million in third quarter 2025
Net income
$84.7 million
Third quarter 2026; compared with $52.0 million in third quarter 2025
Diluted earnings per share
$1.66
Third quarter 2026; compared with $0.95 in third quarter 2025
Quarterly cash dividend
$0.30 per share
Payable December 3, 2026, to shareholders of record November 19, 2026
2026 net sales outlook
$3.46 billion to $3.50 billion
Full-year 2026 outlook
2026 diluted EPS outlook
$4.65 to $4.90
Full-year 2026 outlook
2026 operating cash flow outlook
$230 million to $250 million
Full-year 2026 outlook; prior guidance was $290 million to $310 million
Key Terms
constant-currency net sales, IEEPA tariff refunds, operating margin, free cash flow
4 terms
constant-currency net sales financial
"constant-currency net sales information, which is a non-GAAP financial measure"
IEEPA tariff refunds financial
"approximate 180 basis-point benefit from IEEPA tariff refunds"
Refunds under the International Emergency Economic Powers Act (IEEPA) are repayments of import duties, fees, or penalties that were charged because of trade restrictions or sanctions put in place under emergency authority and later reversed, modified, or found inapplicable. For investors, these refunds can change a company’s past cash outflows and future cost structure—similar to getting a billed charge returned after a rule change—affecting reported earnings or cash available for other uses.
operating margin financial
"Operating margin is expected to be 8.7 to 9.1 percent"
Operating margin shows how much profit a company makes from its core business activities after paying for costs like wages and materials. It’s useful because it tells you how efficiently a company is running—higher margins mean it keeps more money from each dollar of sales, which can indicate better management or stronger products.
free cash flow financial
"Free cash flow is a non-GAAP financial measure"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
Earnings Snapshot
Net sales: $962.6 million · Guidance included
Third quarter 2026
Net sales
$962.6 million
Up 2% from third quarter 2025
Operating income
$109.6 million
Compared with $67.4 million in third quarter 2025
Net income
$84.7 million
Compared with $52.0 million in third quarter 2025
Diluted earnings per share
$1.66
Compared with $0.95 in third quarter 2025
Guidance
Full-year 2026 net sales of $3.46 billion to $3.50 billion, diluted earnings per share of $4.65 to $4.90, and operating cash flow of $230 million to $250 million. Fourth-quarter 2026 net sales of $1,108 million to $1,145 million and diluted earnings per share of $1.85 to $2.10. The full-year outlook assumes current U.S. tariff rates remain through the end of 2026.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were COLM's third-quarter 2026 sales and earnings?
Columbia Sportswear reported $962.6 million in net sales, $84.7 million in net income and diluted earnings per share of $1.66 for the third quarter of 2026. Net sales were up 2% from third quarter 2025; net income was $52.0 million and diluted earnings per share was $0.95 in that prior-year quarter.
What dividend did COLM declare, and when is it payable?
Columbia Sportswear declared a $0.30 per-share quarterly cash dividend, payable December 3, 2026, to shareholders of record November 19, 2026.
How much in IEEPA tariff refunds had Columbia Sportswear received by September 30, 2026?
Columbia Sportswear had received approximately $79 million in IEEPA tariff refunds, including interest. For the nine months ended September 30, 2026, $58 million was recognized in earnings, including $55 million in cost of sales, net of accommodations to factory partners, and $2.5 million as interest income. $8 million remained deferred in inventory and was expected to benefit gross margin when the associated inventory sells in fourth quarter 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of principal executive offices) (Zip code)
(503 ) 985-4000
(Registrant’s telephone number, including area code)
No Change
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On October 29, 2026, Columbia Sportswear Company (the "Company") issued a press release reporting its third quarter and first nine months 2026 financial results, updating its full year 2026 financial outlook, providing preliminary first half 2027 commentary, and announcing a quarterly dividend. A copy of the Company's press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in this report shall not be treated as filed for purposes of the Securities Exchange Act of 1934, as amended.
Attached hereto as Exhibit 99.2 and incorporated by reference herein is the CFO Commentary and Financial Review presentation by Jim A. Swanson, Executive Vice President and Chief Financial Officer of the Company, on the Company's third quarter 2026 financial results, as well as its full year 2026 financial outlook and preliminary first half 2027 commentary, as posted on the Company's investor relations website, https://investor.columbia.com, on October 29, 2026. The information in this report shall not be treated as filed for purposes of the Securities Exchange Act of 1934, as amended.
ITEM 7.01 REGULATION FD DISCLOSURE
In its October 29, 2026 press release, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.30 per share of common stock to be paid on December 3, 2026 to its shareholders of record on November 19, 2026.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
99.1 | Press Release, dated October 29, 2026 (furnished pursuant to Items 2.02 and 7.01 hereof). | ||||
99.2 | CFO Commentary and Financial Review Presentation, dated October 29, 2026 (furnished pursuant to Items 2.02 and 7.01 hereof). | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| COLUMBIA SPORTSWEAR COMPANY | ||||||||
Dated: October 29, 2026 | By: | /S/ JIM A. SWANSON | ||||||
| Jim A. Swanson | ||||||||
| Executive Vice President and Chief Financial Officer | ||||||||
Exhibit 99.1
Columbia Sportswear Company Reports Third Quarter 2026 Financial Results;
Updates Full Year 2026 Financial Outlook
Third Quarter 2026 Highlights
•Net sales increased 2 percent (2 percent constant-currency) to $962.6 million, compared to third quarter 2025.
•Operating income of $109.6 million, or 11.4 percent of net sales, compared to third quarter 2025 operating income of $67.4 million, or 7.1 percent of net sales. Third quarter 2025 operating income included $29.0 million of impairment charges related to prAna and Mountain Hardwear.
•Diluted earnings per share of $1.66, compared to third quarter 2025 diluted earnings per share of $0.95. Third quarter 2025 impairment charges negatively impacted diluted earnings per share by $0.46.
•Exited the quarter with $229.6 million of cash, cash equivalents and short-term investments and no borrowings.
Full Year 2026 Financial Outlook
The following forward-looking statements reflect our expectations as of October 29, 2026 and are subject to significant risks and business uncertainties, including those factors described under “Forward-Looking Statements” below. Additional disclosures and financial outlook details can be found in the Full Year 2026 Financial Outlook section below and the CFO Commentary and Financial Review presentation.
•Net sales of $3.46 to $3.50 billion (prior $3.43 to $3.50 billion), representing net sales growth of 2.0 to 3.0 percent (prior 1.0 to 3.0 percent) compared to 2025.
•Gross margin of 52.1 percent to 52.3 percent (unchanged), including the impact of IEEPA tariff refunds.
•Operating income of $300 to $320 million (prior $290 to $325 million), representing operating margin of 8.7 to 9.1 percent of net sales (prior 8.5 to 9.3 percent).
•Diluted earnings per share of $4.65 to $4.90 (prior $4.45 to $4.90).
PORTLAND, Ore. - October 29, 2026 - Columbia Sportswear Company (NASDAQ: COLM, the “Company”), a multi-brand global leading innovator in outdoor, active and lifestyle products including apparel, footwear, accessories, and equipment, today announced third quarter 2026 financial results for the period ended September 30, 2026.
Chairman and Chief Executive Officer Tim Boyle commented, “We’re pleased to have delivered net sales and EPS growth exceeding our guidance for the third quarter. These results primarily reflected a portion of delayed Fall ’26 wholesale orders shipping earlier-than-expected, improved trends in our U.S. DTC business, and the continued momentum of our international business, despite challenging global macroeconomic conditions.
“Our third quarter performance provides continued tangible signs of progress with our ACCELERATE Growth Strategy. We are particularly encouraged by the momentum building in our Columbia brand U.S. DTC E-Commerce business, which represents the pinnacle expression of our brand.
“While fourth quarter execution will be critical to our full year performance, better-than-expected third quarter performance combined with improving trends in our U.S. business and the shipment of remaining Fall ’26 global wholesale orders gives us the confidence to raise the low end of our full-year revenue and EPS guidance.
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“The operating environment remains challenging and uncertain, and we will continue working to elevate the Columbia brand and improve consumer perceptions in the U.S. That said, we are increasingly confident that the Columbia brand ACCELERATE Growth Strategy is gaining traction and putting us on the right track to return to healthy, sustainable growth over the longer-term. We remain focused on what we can control, and will continue executing our strategy and vision to:
•accelerate profitable growth;
•create iconic products that are differentiated, functional and innovative;
•drive brand engagement with increased, focused demand creation investments;
•enhance consumer experiences by investing in capabilities to delight and retain consumers;
•amplify marketplace excellence that is digitally-led, omni-channel, and global; and
•empower talent that is driven by our core values.”
CFO’s Commentary and Financial Review Presentation Available Online
For a detailed review of the Company’s third quarter 2026 financial results, please refer to the CFO Commentary and Financial Review presentation furnished to the Securities and Exchange Commission (the “SEC”) on a Current Report on Form 8-K and published on the Investor Relations section of the Company’s website at http://investor.columbia.com/financial-results at approximately 4:15 p.m. ET today. Analysts and investors are encouraged to review this commentary prior to participating in our conference call.
ACCELERATE Growth Strategy
ACCELERATE is a growth strategy intended to elevate the Columbia brand to attract younger and more active consumers. It is a multi-year effort centered around several consumer-centric shifts to our brand, product and marketplace strategies, as well as enhanced ways of working. Last year, the Columbia brand launched its new brand platform “Engineered for Whatever” through a global brand campaign, released certain new products designed with a younger, more active consumer in mind, and re-launched the U.S. Columbia.com website, with enhanced features and photography. The foundational shifts of the ACCELERATE Growth Strategy are continuing to show tangible signs of traction with our target consumers. As the strategy evolves, the Columbia brand is sharpening its focus on strategic pillars, and building credibility, relevance and style in outdoor performance and lifestyle. For more information on the ACCELERATE Growth Strategy, please refer to the CFO Commentary and Financial Review presentation.
Third Quarter 2026 Financial Results
(All comparisons are between third quarter 2026 and third quarter 2025, unless otherwise noted.)
Net sales increased 2 percent (2 percent constant-currency) to $962.6 million from $943.4 million for the comparable period in 2025. Sales growth in most of our international markets was partially offset by lower U.S. net sales, which reflected later shipments of Fall 2026 wholesale orders, partially offset by growth in our direct-to-consumer (“DTC”) business.
Gross margin contracted 20 basis points to 49.8 percent of net sales from 50.0 percent of net sales for the comparable period in 2025. Gross margin contraction primarily reflected accommodations to our factory partners, partially offset by the current-period benefit of International Emergency Economic Powers Act (“IEEPA”) tariff refunds previously received.
SG&A expenses were $375.6 million, or 39.0 percent of net sales, compared to $380.9 million, or 40.4 percent of net sales, for the comparable period in 2025.
Impairment of goodwill and intangible assets of $29.0 million related to prAna and Mountain Hardwear in third quarter 2025, compared to no such charges in third quarter 2026.
Operating income of $109.6 million, or 11.4 percent of net sales, compared to operating income of $67.4 million, or 7.1 percent of net sales, for the comparable period in 2025.
Interest income, net of $2.8 million, compared to $2.9 million for the comparable period in 2025.
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Income tax expense of $26.8 million resulted in an effective income tax rate of 24.0 percent, compared to income tax expense of $19.0 million, or an effective income tax rate of 26.7 percent, for the comparable period in 2025.
Net income of $84.7 million, or $1.66 per diluted share, compared to net income of $52.0 million, or $0.95 per diluted share, for the comparable period in 2025. Third quarter 2025 impairment charges negatively impacted diluted earnings per share by $0.46.
First Nine Months 2026 Financial Results
(All comparisons are between first nine months 2026 and first nine months 2025, unless otherwise noted.)
Net sales increased 1 percent (flat on a constant-currency basis) to $2,356.0 million from $2,327.1 million for the comparable period in 2025.
Gross margin expanded 220 basis points to 52.3 percent of net sales from 50.1 percent of net sales for the comparable period in 2025. Gross margin expansion primarily reflected an approximate 230 basis point current-period benefit of IEEPA tariff refunds previously received, net of accommodations to our factory partners.
SG&A expenses were $1,065.0 million, or 45.2 percent of net sales, compared to $1,061.0 million, or 45.6 percent of net sales, for the comparable period in 2025.
Impairment of goodwill and intangible assets of $29.0 million related to prAna and Mountain Hardwear in the first nine months of 2025, compared to no such charges in the first nine months of 2026.
Operating income of $182.5 million, or 7.7 percent of net sales, compared to $90.3 million, or 3.9 percent of net sales, for the comparable period in 2025.
Interest income, net of $13.9 million, compared to $14.5 million for the comparable period in 2025.
Income tax expense of $49.5 million resulted in an effective income tax rate of 25.4 percent, compared to $25.2 million, or an effective income tax rate of 23.1 percent, for the comparable period in 2025.
Net income of $145.6 million, or $2.82 per diluted share, compared to $84.1 million, or $1.53 per diluted share, for the comparable period in 2025. The current-period benefit of IEEPA tariff refunds previously received, net of accommodations to our factory partners, benefited diluted earnings per share by $0.85.
Balance Sheet as of September 30, 2026
Cash, cash equivalents, and short-term investments totaled $229.6 million, compared to $236.0 million as of September 30, 2025.
The Company had no borrowings as of either September 30, 2026 or September 30, 2025.
Inventories increased 11 percent to $889.2 million, compared to $800.4 million as of September 30, 2025. Inventory growth primarily reflected higher in-transit inventory from delayed Fall 2026 receipts and earlier production of Spring 2027 inventory. Inventory at quarter-end primarily consisted of current and future season product, with older season inventories representing a manageable portion of total inventory.
Cash Flow for the Nine Months Ended September 30, 2026
Net cash used in operating activities was $280.5 million, compared to $333.4 million for the comparable period in 2025.
Capital expenditures totaled $40.8 million, compared to $46.6 million for the comparable period in 2025.
Share Repurchases for the Nine Months Ended September 30, 2026
The Company repurchased 3,342,569 shares of common stock for an aggregate of $200.0 million, or an average price per share of $59.83.
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At September 30, 2026, $226.5 million remained available under our stock repurchase authorization, which does not obligate the Company to acquire any specific number of shares or to acquire shares over any specified period of time.
Quarterly Cash Dividend
The Board of Directors approved a regular quarterly cash dividend of $0.30 per share, payable on December 3, 2026 to shareholders of record on November 19, 2026.
Full Year 2026 and Preliminary First Half 2027 Financial Outlooks
(Additional financial outlook details can be found in the CFO Commentary and Financial Review presentation.)
The Company’s full year 2026 and fourth quarter 2026 Financial Outlooks, and preliminary first half 2027 commentary are forward-looking in nature, and the following forward-looking statements reflect our expectations as of October 29, 2026, and are subject to significant risks and business uncertainties, including those factors described under “Forward-Looking Statements” below. These risks and uncertainties limit our ability to accurately forecast results. The Company’s Financial Outlook assumes that the current U.S. tariff rates remain in place through the end of this year.
Net sales are expected to increase 2.0 to 3.0 percent (prior 1.0 to 3.0 percent), resulting in net sales of $3.46 to $3.50 billion (prior $3.43 to $3.50 billion), compared to $3.40 billion in 2025. Foreign currency translation is expected to benefit net sales by approximately 50 to 70 basis points (prior 30 to 50 basis points).
Gross margin is expected to expand 160 to 180 basis points resulting in gross margin of 52.1 to 52.3 percent of net sales (unchanged), compared to 50.5 percent of net sales in 2025. Gross margin expectations include an approximate 180 basis-point benefit from IEEPA tariff refunds, net of accommodations to our factory partners.
SG&A expenses, as a percent of net sales, are expected to be 43.8 to 44.0 percent (prior 43.6 to 44.2 percent), compared to SG&A expense as a percent of net sales of 44.2 percent in 2025.
Operating margin is expected to be 8.7 to 9.1 percent of net sales (prior 8.5 to 9.3 percent), compared to operating margin of 6.1 percent of net sales in 2025.
Effective income tax rate is expected to be approximately 25.0 percent (unchanged).
Diluted earnings per share is expected to be $4.65 to $4.90 (prior $4.45 to $4.90), compared to $3.24 in 2025.
Operating cash flow is expected to be $230 to $250 million (prior $290 to $310 million). The change in projected operating cash flow is due to earlier production of Spring 2027 inventory, which is expected to increase our year-end inventory balance.
Capital expenditures are planned to be in the range of $60 to $70 million (prior $65 to $75 million).
Fourth Quarter 2026 Financial Outlook
•Net sales are expected to be $1,108 to $1,145 million, representing growth of 3.5 to 7.0 percent from $1,070 million for the comparable period in 2025. Net sales guidance includes the impact of a higher proportion of Fall 2026 shipments occurring in fourth quarter 2026 in comparison to the timing of Fall 2025 shipments last year.
•Operating income is expected to be 10.8 to 12.0 percent of net sales, compared to operating income of 10.9 percent of net sales for the comparable period in 2025. Operating margin includes a slight expected cost of sales benefit from the remaining IEEPA tariff refunds included in inventory.
•Diluted earnings per share is expected to be $1.85 to $2.10, compared to $1.73 for the comparable period in 2025. This range reflects an estimated effective tax rate of approximately 24.5 percent for the fourth quarter.
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Preliminary First Half 2027 Commentary
•Wholesale net sales are expected to grow in the mid-single-digit percent range for the first half of 2027, which reflects an increase of our Spring 2027 wholesale order book, and forecasted effects from reorders, replenishment orders and cancellations.
Conference Call
The Company will hold its third quarter 2026 conference call at 5:00 p.m. ET today. Dial (888) 506-0062 to participate. The call will also be webcast live on the Investor Relations section of the Company’s website at https://investor.columbia.com.
Supplemental Financial Information
Since Columbia Sportswear Company is a global company, the comparability of its operating results reported in United States dollars is affected by foreign currency exchange rate fluctuations because the underlying currencies in which it transacts change in value over time compared to the United States dollar. To supplement financial information reported in accordance with GAAP, the Company discloses constant-currency net sales information, which is a non-GAAP financial measure, to provide a framework to assess how the business performed excluding the effects of changes in the exchange rates used to translate net sales generated in foreign currencies into United States dollars. The Company calculates constant-currency net sales by translating net sales in foreign currencies for the current period into United States dollars at the average exchange rates that were in effect during the comparable period of the prior year. Management believes that this non-GAAP financial measure reflects an additional and useful way of viewing an aspect of our operations that, when viewed in conjunction with our GAAP results, provides a more comprehensive understanding of our business and operations. In particular, investors may find the non-GAAP financial measure useful by reviewing our net sales results without the volatility in foreign currency exchange rates. This non-GAAP financial measure also facilitates management’s internal comparisons to our historical net sales results and comparisons to competitors’ net sales results.
The non-GAAP financial measures should be viewed in addition to, and not in lieu of or superior to, our financial measures calculated in accordance with GAAP. The Company provides a reconciliation of non-GAAP measures to the most directly comparable financial measure calculated in accordance with GAAP. See the “Reconciliation of GAAP to Non-GAAP Financial Measures” table included herein. The non-GAAP financial measures presented may not be comparable to similarly titled measures reported by other companies.
Forward-Looking Statements
This document contains forward-looking statements within the meaning of the federal securities laws, including statements regarding the Company’s expectations, anticipations or beliefs about the Company’s ability to realize growth opportunities and manage expenses; the Company’s ACCELERATE Growth Strategy and efforts to elevate its brand, inventory levels and composition; share repurchases; financial position; marketing strategies; timing and payment of dividends; the impact of foreign currency translation; the effect of, and any changes to, tariff rates and refunds; and the Company’s expectations regarding its financial results for full year 2026 net sales, gross margin, SG&A expenses, operating margin, effective income tax rate, diluted earnings per share, operating cash flow, and capital expenditures; fourth quarter 2026 net sales, operating margin, effective income tax rate, and diluted earnings per share; and first half 2027 wholesale net sales. Forward-looking statements often use words such as “will,” “anticipate,” “continue,” “estimate,” “expect,” “should,” “may,” “plan,” “intend,” and other words and terms of similar meaning or reference future dates. The Company’s expectations, beliefs and projections are expressed in good faith and are believed to have a reasonable basis; however, each forward-looking statement involves a number of risks and uncertainties, including those set forth in this document, those described in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q under the heading “Risk Factors,” and those that have been or may be described in other reports filed by the Company, including reports on Form 8-K. Potential risks and uncertainties that may affect our future revenues, earnings and performance and could cause the actual results of operations or financial condition of the Company to differ materially from the anticipated results expressed or implied by forward-looking statements in this document include: loss of key customer accounts; our ability to execute our ACCELERATE Growth Strategy; our ability to effectively execute our business strategies, including initiatives to upgrade our business processes and information technology (“IT”) systems and investments in our DTC businesses; our ability to maintain the strength and security of our IT systems; the effects of unseasonable weather, including global climate change; the seasonality of our business and timing of orders; trends affecting
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consumer spending, including changes in the level of consumer spending, and retail traffic patterns; unfavorable economic conditions generally; the financial health of our customers and retailer consolidation; higher than expected rates of order cancellations; changes affecting consumer demand and preferences and fashion trends; changes in international, federal or state tax, labor and other laws and regulations that affect our business, including changes in corporate tax rates, tariffs, international trade policy and geopolitical tensions, or increasing wage rates; our ability to attract and retain key personnel; risks inherent in doing business in foreign markets, including fluctuations in currency exchange rates, global credit market conditions, changes in global regulation and economic and political conditions and disease outbreaks; volatility in global production and transportation costs and capacity and timing; our ability to effectively manage our inventory and our wholesale customers’ ability to manage their inventories; our dependence on third-party manufacturers and suppliers and our ability to source at competitive prices from them or at all and our ability to import product; the effectiveness of our sales and marketing efforts; business disruptions and acts of terrorism, cyber-attacks or military activities around the globe; intense competition in the industry; our ability to establish and protect our intellectual property; and our ability to develop innovative products. The Company cautions that forward-looking statements are inherently less reliable than historical information. The Company does not undertake any duty to update any of the forward-looking statements after the date of this document to conform them to actual results or to reflect changes in events, circumstances or its expectations. New factors emerge from time to time, and it is not possible for the Company to predict or assess the effects of all such factors or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement.
About Columbia Sportswear Company
Columbia Sportswear Company connects active people with their passions and is a global multi-brand leading innovator in outdoor, active and lifestyle products including apparel, footwear, accessories, and equipment. Founded in 1938 in Portland, Oregon, the Company’s brands are sold in 122 countries. In addition to the Columbia® brand, Columbia Sportswear Company also owns the Mountain Hard Wear®, SOREL® and prAna® brands. To learn more, please visit the Company’s websites at www.columbia.com, www.mountainhardwear.com, www.sorel.com, and www.prana.com.
Investor Relations Contact:
Matt Tucker
(503) 985-1445
InvestorRelations@columbia.com
- Financial tables follow -
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COLUMBIA SPORTSWEAR COMPANY
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
As of September 30, | ||||||||||||||
| (in thousands) | 2026 | 2025 | ||||||||||||
| ASSETS | ||||||||||||||
| Current assets: | ||||||||||||||
| Cash and cash equivalents | $ | 216,924 | $ | 228,832 | ||||||||||
| Short-term investments | 12,655 | 7,195 | ||||||||||||
| Accounts receivable, net | 654,427 | 610,458 | ||||||||||||
| Inventories | 889,242 | 800,350 | ||||||||||||
| Prepaid expenses and other current assets | 82,862 | 99,494 | ||||||||||||
| Total current assets | 1,856,110 | 1,746,329 | ||||||||||||
| Property, plant and equipment, net | 270,898 | 282,394 | ||||||||||||
| Operating lease right-of-use assets | 408,974 | 429,562 | ||||||||||||
| Intangible assets, net | 71,221 | 71,221 | ||||||||||||
| Goodwill | 5,694 | 5,694 | ||||||||||||
| Deferred income taxes | 103,984 | 112,634 | ||||||||||||
| Other non-current assets | 73,485 | 64,713 | ||||||||||||
| Total assets | $ | 2,790,366 | $ | 2,712,547 | ||||||||||
| LIABILITIES AND EQUITY | ||||||||||||||
| Current liabilities: | ||||||||||||||
| Accounts payable | $ | 359,609 | $ | 244,365 | ||||||||||
| Accrued liabilities | 264,072 | 260,487 | ||||||||||||
| Operating lease liabilities | 81,819 | 82,693 | ||||||||||||
| Income taxes payable | 8,575 | 5,131 | ||||||||||||
| Total current liabilities | 714,075 | 592,676 | ||||||||||||
| Non-current operating lease liabilities | 376,316 | 397,618 | ||||||||||||
| Income taxes payable | 11,771 | 14,399 | ||||||||||||
| Deferred income taxes | 2,604 | 335 | ||||||||||||
| Other long-term liabilities | 53,838 | 51,588 | ||||||||||||
| Total liabilities | 1,158,604 | 1,056,616 | ||||||||||||
| Total shareholders' equity | 1,631,762 | 1,655,931 | ||||||||||||
| Total liabilities and shareholders' equity | $ | 2,790,366 | $ | 2,712,547 | ||||||||||
7
COLUMBIA SPORTSWEAR COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
(in thousands, except per share amounts) | 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||||
| Net sales | $ | 962,582 | $ | 943,425 | $ | 2,355,957 | $ | 2,327,123 | ||||||||||||||||||
| Cost of sales | 483,563 | 471,607 | 1,123,544 | 1,162,140 | ||||||||||||||||||||||
| Gross profit | 479,019 | 471,818 | 1,232,413 | 1,164,983 | ||||||||||||||||||||||
| Gross margin | 49.8 | % | 50.0 | % | 52.3 | % | 50.1 | % | ||||||||||||||||||
| Selling, general and administrative expenses | 375,641 | 380,892 | 1,064,969 | 1,060,991 | ||||||||||||||||||||||
| Impairment of goodwill and intangible assets | — | 29,000 | — | 29,000 | ||||||||||||||||||||||
| Net licensing income | 6,231 | 5,460 | 15,042 | 15,311 | ||||||||||||||||||||||
| Operating income | 109,609 | 67,386 | 182,486 | 90,303 | ||||||||||||||||||||||
| Interest income, net | 2,795 | 2,870 | 13,894 | 14,525 | ||||||||||||||||||||||
| Other non-operating income (expense), net | (837) | 732 | (1,255) | 4,447 | ||||||||||||||||||||||
| Income before income tax | 111,567 | 70,988 | 195,125 | 109,275 | ||||||||||||||||||||||
| Income tax expense | 26,827 | 18,983 | 49,524 | 25,218 | ||||||||||||||||||||||
| Net income | $ | 84,740 | $ | 52,005 | $ | 145,601 | $ | 84,057 | ||||||||||||||||||
| Earnings per share: | ||||||||||||||||||||||||||
| Basic | $ | 1.67 | $ | 0.95 | $ | 2.83 | $ | 1.53 | ||||||||||||||||||
| Diluted | $ | 1.66 | $ | 0.95 | $ | 2.82 | $ | 1.53 | ||||||||||||||||||
| Weighted average shares outstanding: | ||||||||||||||||||||||||||
| Basic | 50,835 | 54,540 | 51,537 | 55,013 | ||||||||||||||||||||||
| Diluted | 50,946 | 54,558 | 51,631 | 55,114 | ||||||||||||||||||||||
8
COLUMBIA SPORTSWEAR COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
Nine Months Ended September 30, | ||||||||||||||
| (in thousands) | 2026 | 2025 | ||||||||||||
| Cash flows from operating activities: | ||||||||||||||
| Net income | $ | 145,601 | $ | 84,057 | ||||||||||
| Adjustments to reconcile net income to net cash used in operating activities: | ||||||||||||||
| Depreciation and amortization expense | 41,094 | 42,147 | ||||||||||||
| Non-cash lease expense | 68,356 | 62,989 | ||||||||||||
| Provision for uncollectible accounts receivable | 666 | 1,775 | ||||||||||||
| Deferred income taxes | 3,693 | (3,779) | ||||||||||||
Share-based compensation | 20,431 | 18,060 | ||||||||||||
| Loss on impairment of goodwill and intangible assets | — | 29,000 | ||||||||||||
| Other, net | 2,560 | (2,463) | ||||||||||||
| Changes in operating assets and liabilities: | ||||||||||||||
| Accounts receivable | (251,413) | (184,166) | ||||||||||||
| Inventories | (201,687) | (94,237) | ||||||||||||
| Prepaid expenses and other current assets | 11,551 | (27,883) | ||||||||||||
| Other assets | (3,247) | (441) | ||||||||||||
| Accounts payable | (26,118) | (146,916) | ||||||||||||
| Accrued liabilities | (16,795) | (28,433) | ||||||||||||
| Income taxes payable | (3,332) | (25,302) | ||||||||||||
| Operating lease assets and liabilities | (71,678) | (61,754) | ||||||||||||
| Other liabilities | (205) | 3,903 | ||||||||||||
| Net cash used in operating activities | (280,523) | (333,443) | ||||||||||||
| Cash flows from investing activities: | ||||||||||||||
| Purchases of short-term investments | (89,095) | (261,449) | ||||||||||||
| Sales and maturities of short-term investments | 432,363 | 547,181 | ||||||||||||
| Capital expenditures | (40,789) | (46,648) | ||||||||||||
| Net cash provided by investing activities | 302,479 | 239,084 | ||||||||||||
| Cash flows from financing activities: | ||||||||||||||
| Payment of line of credit issuance fees | (843) | — | ||||||||||||
Proceeds from issuance of common stock related to share-based compensation | 2,523 | 5,264 | ||||||||||||
Tax payments related to share-based compensation | (4,921) | (5,964) | ||||||||||||
| Repurchase of common stock | (200,000) | (171,687) | ||||||||||||
| Cash dividends paid | (46,325) | (49,461) | ||||||||||||
| Net cash used in financing activities | (249,566) | (221,848) | ||||||||||||
| Net effect of exchange rate changes on cash | 2,506 | 13,170 | ||||||||||||
| Net decrease in cash and cash equivalents | (225,104) | (303,037) | ||||||||||||
| Cash and cash equivalents, beginning of period | 442,028 | 531,869 | ||||||||||||
| Cash and cash equivalents, end of period | $ | 216,924 | $ | 228,832 | ||||||||||
| Supplemental disclosures of cash flow information: | ||||||||||||||
| Cash paid during the period for income taxes | $ | 46,112 | $ | 78,338 | ||||||||||
| Supplemental disclosures of non-cash investing and financing activities: | ||||||||||||||
| Property, plant and equipment acquired through increase in liabilities | $ | 8,750 | $ | 10,323 | ||||||||||
9
COLUMBIA SPORTSWEAR COMPANY
Reconciliation of GAAP to Non-GAAP Financial Measures
Net Sales Growth - Constant-currency Basis
(Unaudited)
Three Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||
Reported Net Sales | Adjust for Foreign Currency | Constant-currency Net Sales | Reported Net Sales | Reported Net Sales | Constant-currency Net Sales | |||||||||||||||||||||||||||||||||
(in thousands, except percentage changes) | 2026 | Translation | 2026(1) | 2025 | % Change | % Change(1) | ||||||||||||||||||||||||||||||||
| Geographical net sales: | ||||||||||||||||||||||||||||||||||||||
| United States | $ | 540,872 | $ | — | $ | 540,872 | $ | 546,690 | (1)% | (1)% | ||||||||||||||||||||||||||||
| Latin America and Asia Pacific | 159,453 | (1,056) | 158,397 | 143,358 | 11% | 10% | ||||||||||||||||||||||||||||||||
| Europe, Middle East and Africa | 175,285 | 964 | 176,249 | 164,461 | 7% | 7% | ||||||||||||||||||||||||||||||||
| Canada | 86,972 | 1,560 | 88,532 | 88,916 | (2)% | —% | ||||||||||||||||||||||||||||||||
| Total | $ | 962,582 | $ | 1,468 | $ | 964,050 | $ | 943,425 | 2% | 2% | ||||||||||||||||||||||||||||
| Brand net sales: | ||||||||||||||||||||||||||||||||||||||
| Columbia | $ | 826,242 | $ | 1,005 | $ | 827,247 | $ | 803,973 | 3% | 3% | ||||||||||||||||||||||||||||
| SOREL | 82,832 | 288 | 83,120 | 80,964 | 2% | 3% | ||||||||||||||||||||||||||||||||
| prAna | 30,172 | 2 | 30,174 | 30,375 | (1)% | (1)% | ||||||||||||||||||||||||||||||||
| Mountain Hardwear | 23,336 | 173 | 23,509 | 28,113 | (17)% | (16)% | ||||||||||||||||||||||||||||||||
| Total | $ | 962,582 | $ | 1,468 | $ | 964,050 | $ | 943,425 | 2% | 2% | ||||||||||||||||||||||||||||
| Product category net sales: | ||||||||||||||||||||||||||||||||||||||
| Apparel, accessories and equipment | $ | 743,907 | $ | 766 | $ | 744,673 | $ | 734,315 | 1% | 1% | ||||||||||||||||||||||||||||
| Footwear | 218,675 | 702 | 219,377 | 209,110 | 5% | 5% | ||||||||||||||||||||||||||||||||
| Total | $ | 962,582 | $ | 1,468 | $ | 964,050 | $ | 943,425 | 2% | 2% | ||||||||||||||||||||||||||||
| Channel net sales: | ||||||||||||||||||||||||||||||||||||||
| Wholesale | $ | 636,724 | $ | (116) | $ | 636,608 | $ | 634,171 | —% | —% | ||||||||||||||||||||||||||||
| DTC | 325,858 | 1,584 | 327,442 | 309,254 | 5% | 6% | ||||||||||||||||||||||||||||||||
| Total | $ | 962,582 | $ | 1,468 | $ | 964,050 | $ | 943,425 | 2% | 2% | ||||||||||||||||||||||||||||
(1) Constant-currency net sales is a non-GAAP financial measure. See “Supplemental Financial Information” above for further information.
10
COLUMBIA SPORTSWEAR COMPANY
Reconciliation of GAAP to Non-GAAP Financial Measures
Net Sales Growth - Constant-currency Basis
(Unaudited)
Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||
| Reported Net Sales | Adjust for Foreign Currency | Constant-currency Net Sales | Reported Net Sales | Reported Net Sales | Constant-currency Net Sales | |||||||||||||||||||||||||||||||||
(in thousands, except percentage changes) | 2026 | Translation | 2026(1) | 2025 | % Change | % Change(1) | ||||||||||||||||||||||||||||||||
| Geographical net sales: | ||||||||||||||||||||||||||||||||||||||
| United States | $ | 1,283,412 | $ | — | $ | 1,283,412 | $ | 1,352,988 | (5)% | (5)% | ||||||||||||||||||||||||||||
| Latin America and Asia Pacific | 445,629 | (2,775) | 442,854 | 407,901 | 9% | 9% | ||||||||||||||||||||||||||||||||
| Europe, Middle East and Africa | 463,749 | (16,822) | 446,927 | 402,503 | 15% | 11% | ||||||||||||||||||||||||||||||||
| Canada | 163,167 | (1,532) | 161,635 | 163,731 | —% | (1)% | ||||||||||||||||||||||||||||||||
| Total | $ | 2,355,957 | $ | (21,129) | $ | 2,334,828 | $ | 2,327,123 | 1% | —% | ||||||||||||||||||||||||||||
| Brand net sales: | ||||||||||||||||||||||||||||||||||||||
| Columbia | $ | 2,072,617 | $ | (20,698) | $ | 2,051,919 | $ | 2,035,439 | 2% | 1% | ||||||||||||||||||||||||||||
| SOREL | 136,277 | (567) | 135,710 | 141,995 | (4)% | (4)% | ||||||||||||||||||||||||||||||||
| prAna | 80,158 | (6) | 80,152 | 79,026 | 1% | 1% | ||||||||||||||||||||||||||||||||
| Mountain Hardwear | 66,905 | 142 | 67,047 | 70,663 | (5)% | (5)% | ||||||||||||||||||||||||||||||||
| Total | $ | 2,355,957 | $ | (21,129) | $ | 2,334,828 | $ | 2,327,123 | 1% | —% | ||||||||||||||||||||||||||||
| Product category net sales: | ||||||||||||||||||||||||||||||||||||||
| Apparel, accessories and equipment | $ | 1,864,368 | $ | (15,436) | $ | 1,848,932 | $ | 1,857,437 | —% | —% | ||||||||||||||||||||||||||||
| Footwear | 491,589 | (5,693) | 485,896 | 469,686 | 5% | 3% | ||||||||||||||||||||||||||||||||
| Total | $ | 2,355,957 | $ | (21,129) | $ | 2,334,828 | $ | 2,327,123 | 1% | —% | ||||||||||||||||||||||||||||
| Channel net sales: | ||||||||||||||||||||||||||||||||||||||
| Wholesale | $ | 1,356,149 | $ | (14,369) | $ | 1,341,780 | $ | 1,351,158 | —% | (1)% | ||||||||||||||||||||||||||||
| DTC | 999,808 | (6,760) | 993,048 | 975,965 | 2% | 2% | ||||||||||||||||||||||||||||||||
| Total | $ | 2,355,957 | $ | (21,129) | $ | 2,334,828 | $ | 2,327,123 | 1% | —% | ||||||||||||||||||||||||||||
(1) Constant-currency net sales is a non-GAAP financial measure. See “Supplemental Financial Information” above for further information.
11
CFO COMMENTARY AND FINANCIAL REVIEW THIRD QUARTER 2026 September 30, 2026 Exhibit 99.2
This presentation does not constitute an offer or invitation for the sale or purchase of securities and has been prepared solely for informational purposes. This presentation contains forward-looking statements within the meaning of the federal securities laws regarding Columbia Sportswear Company’s business opportunities and anticipated results of operations. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward- looking statements because they contain words such as “may,” “might,” “will,” “would,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “likely,” “goal,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Unless the context indicates otherwise, the terms "we," "us," "our," "the Company," and "Columbia" refer to Columbia Sportswear Company, together with its wholly owned subsidiaries and entities in which it maintains a controlling financial interest. The Company's expectations, beliefs and projections are expressed in good faith and are believed to have a reasonable basis; however, each forward-looking statement involves a number of risks and uncertainties, including those set forth in this document, those described in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q under the heading "Risk Factors," and those that have been or may be described in other reports filed by the Company, including reports on Form 8-K. Potential risks and uncertainties that may affect our future revenues, costs, earnings and performance and could cause the actual results of operations or financial condition of the Company to differ materially from the anticipated results expressed or implied by forward-looking statements in this document include: loss of key customer accounts; our ability to execute the ACCELERATE Growth Strategy; our ability to effectively execute our business strategies, including initiatives to upgrade our business processes and information technology (“IT”) systems and investments in our DTC businesses; our ability to maintain the strength and security of our IT systems; the effects of unseasonable weather, including global climate change; the seasonality of our business and timing of orders; trends affecting consumer spending, including changes in the level of consumer spending, and retail traffic patterns; unfavorable economic conditions generally; the financial health of our customers and retailer consolidation; higher than expected rates of order cancellations; changes affecting consumer demand and preferences and fashion trends; changes in international, federal or state tax, labor and other laws and regulations that affect our business, including changes in corporate tax rates, tariffs, international trade policy and geopolitical tensions, or increasing wage rates; our ability to attract and retain key personnel; risks inherent in doing business in foreign markets, including fluctuations in currency exchange rates, global credit market conditions, changes in global regulation and economic and political conditions and disease outbreaks; volatility in global production and transportation costs and capacity and timing; our ability to effectively manage our inventory and our wholesale customers’ ability to manage their inventories; our dependence on third- party manufacturers and suppliers and our ability to source at competitive prices from them or at all and our ability to import product; the effectiveness of our sales and marketing efforts; business disruptions and acts of terrorism, cyber-attacks or military activities around the globe; intense competition in the industry; our ability to establish and protect our intellectual property; and our ability to develop innovative products. The Company cautions that forward-looking statements are inherently less reliable than historical information. New risks and uncertainties emerge from time to time and it is not possible for the Company to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this presentation. Nothing in this presentation should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We do not undertake any duty to update any of the forward-looking statements after the date of this document to conform the forward-looking statements to actual results or to changes in our expectations. FORWARD-LOOKING STATEMENTS
Since Columbia Sportswear Company is a global company, the comparability of its operating results reported in U.S. dollars is affected by foreign currency exchange rate fluctuations because the underlying currencies in which it transacts change in value over time compared to the U.S. dollar. To supplement financial information reported in accordance with GAAP, the Company discloses constant-currency net sales information, which is a non-GAAP financial measure, to provide a framework to assess how the business performed excluding the effects of changes in the exchange rates used to translate net sales generated in foreign currencies into U.S. dollars. The Company calculates constant-currency net sales by translating net sales in foreign currencies for the current period into U.S. dollars at the average exchange rates that were in effect during the comparable period of the prior year. Management believes that this non-GAAP financial measure reflects an additional and useful way of viewing an aspect of our operations that, when viewed in conjunction with our GAAP results, provides a more comprehensive understanding of our business and operations. Free cash flow is a non-GAAP financial measure. Free cash flow is calculated by reducing net cash flow from operating activities by capital expenditures. Management believes free cash flow provides investors with an important perspective on the cash available for shareholders and acquisitions after making the capital investments required to support ongoing business operations and long-term value creation. Free cash flow does not represent the residual cash flow available for discretionary expenditures as it excludes certain mandatory expenditures. Management uses free cash flow as a measure to assess both business performance and overall liquidity. Non-GAAP financial measures, including constant-currency net sales and free cash flow, should be viewed in addition to, and not in lieu of or superior to, our financial measures calculated in accordance with GAAP. The Company provides a reconciliation of non-GAAP measures to the most directly comparable financial measure calculated in accordance with GAAP in the back of this presentation in the “Appendix”. The non-GAAP financial measures and constant-currency information presented may not be comparable to similarly titled measures reported by other companies. REFERENCES TO NON-GAAP FINANCIAL INFORMATION GLOSSARY OF PRESENTATION TERMINOLOGY DTC DTC.com DTC B&M y/y U.S. LAAP EMEA SG&A EPS bps direct-to-consumer DTC e-commerce DTC brick & mortar year-over-year United States Latin America and Asia Pacific Europe, Middle East and Africa selling, general & administrative earnings per share basis points “+” or “up” “-” or “down” LSD% MSD% HSD% LDD% low 20% mid 30% high 40% increased decreased low-single-digit percent mid-single-digit percent high-single-digit percent low-double-digit percent low-twenties percent mid-thirties percent high-forties percent “$##M” “$##B” c.c. M&A FX ~ H# Q# YTD in millions of U.S. dollars in billions of U.S. dollars constant-currency mergers & acquisitions foreign currency exchange approximately First half, second half Quarter 1, 2, 3, 4 Year-to-date
ACCELERATE PROFITABLE GROWTH CREATE ICONIC PRODUCTS Differentiated, Functional, Innovative DRIVE BRAND ENGAGEMENT Increased, Focused Demand Creation Investments ENHANCE CONSUMER EXPERIENCES Invest in Capabilities to Delight and Retain Consumers AMPLIFY MARKETPLACE EXCELLENCE Digitally-Led, Omni-Channel, Global EMPOWER TALENT THAT IS DRIVEN BY OUR CORE VALUES Through a Diverse and Inclusive Workforce W E C O N N E C T A C T I V E P E O P L E W I T H T H E I R P A S S I O N S
CAPITAL ALLOCATION PRIORITIES DEPENDENT UPON OUR FINANCIAL POSITION, MARKET CONDITIONS AND OUR STRATEGIC PRIORITIES, OUR CAPITAL ALLOCATION APPROACH INCLUDES: INVEST IN ORGANIC GROWTH OPPORTUNITIES RETURN AT LEAST 40% OF FREE CASH FLOW TO SHAREHOLDERS OPPORTUNISTIC M&A TO DRIVE LONG-TERM PROFITABLE GROWTH THROUGH DIVIDENDS AND SHARE REPURCHASES OUR GOAL IS TO MAINTAIN OUR STRONG BALANCE SHEET AND DISCIPLINED APPROACH TO CAPITAL ALLOCATION.
Q3’26 FINANCIAL OVERVIEW Q3’26 FINANCIAL RESULTS COMPARED TO Q3’25 Q3’26 Highlights: • Net sales reflected growth in most of our international markets, partially offset by lower U.S. net sales. • Compared to guidance, net sales upside primarily reflected a portion of delayed Fall ’26 wholesale orders shipping earlier-than- expected, and improved trends in our U.S. DTC business. • Operating margin expansion primarily reflected the absence of prior year impairment charges related to prAna and Mountain Hardwear and SG&A expense leverage. • Exited the quarter with $229.6M of cash, cash equivalents and short-term investments, and no borrowings. • Inventory was up 11 percent y/y, primarily reflecting higher in-transit inventory from delayed Fall ’26 receipts and earlier production of Spring ’27 inventory. Overall inventory composition, including the aging of older season inventories, remains healthy.
Q3’26 ACTUAL VS LAST YEAR Commentary on Q3’26 financial results vs last year: • Net sales reflected growth in most of our international markets, partially offset by lower U.S. net sales, which reflected later shipments of Fall ’26 wholesale orders, partially offset by growth in our DTC business. • Gross margin contraction primarily reflected accommodations to our factory partners, partially offset by the current-period benefit of IEEPA tariff refunds previously received. • SG&A was down 1 percent y/y, largely driven by disciplined expense management, partially offset by higher incentive compensation and DTC expenses. • Diluted EPS increased $0.71, reflecting the absence of prior year impairment charges of $29.0M related to prAna and Mountain Hardwear, which negatively impacted diluted EPS by $0.46.
Q3’26 REGIONAL NET SALES PERFORMANCE Commentary below is based on constant-currency performance. U.S. • Wholesale: down LSD%, reflecting a shift in shipment timing of increased Fall ’26 orders, which were proportionately less weighted to the third quarter this year vs last year. • DTC: up LSD% (DTC B&M up LSD%, DTC.com up MSD%), led by DTC.com, reflecting execution of the ACCELERATE Growth Strategy. DTC B&M growth reflected improved productivity despite continued traffic headwinds. • The Company had 169 stores (147 outlets, 22 branded) exiting Q3’26 vs. 172 stores (152 outlets, 20 branded) exiting Q3’25. LAAP • Japan: up LSD% (up LDD% c.c.), growth across channels reflected healthy demand for fall season products. • China: up low-20% (up low teens% c.c.), robust growth across channels amid a challenging macroeconomic and competitive environment. • Korea: up mid teens% (up high teens% c.c.), led by wholesale sales, reflecting increased Fall ’26 orders. • LAAP Distributor: down LSD%, primarily reflecting a shift in timing of increased Fall ’26 order shipments into Q2’26 compared to prior year. EMEA • Europe-direct: up LSD% (up LSD% c.c.), robust DTC performance despite a warm start to the Fall season and a challenging macroeconomic environment, partially offset by a decline in wholesale, reflecting Fall ’26 supply chain delays. • EMEA Distributor: up high-30%, primarily reflecting a shift in timing of increased Fall ’26 order shipments into Q3’26 compared to prior year. Canada • Down LSD% (relatively flat c.c.), driven by a shift in timing of Fall ’26 orders out of Q3’26 compared to prior year, partially offset by growth in DTC.com reflecting execution of the ACCELERATE Growth Strategy. Q3’26 NET SALES VS. Q3’25 CANADA -2% (0% c.c.) $87M U.S. -1% (-1% c.c.) $541M EMEA +7% (+7% c.c.) $175M LAAP +11% (+10% c.c.) $159M
Q3’26 NET SALES OVERVIEW Q3’26 NET SALES VS. Q3’25 CATEGORY PERFORMANCE CHANNEL PERFORMANCE WHOLESALE: DTC: +5% (+6% c.c.) $637M $326M 0% (0% c.c.) • Both Columbia and SOREL footwear grew in the quarter • Columbia reflected growth in most of our international markets, partially offset by a modest decline in the U.S. • SOREL growth primarily reflected increased Fall ’26 wholesale orders • Mountain Hardwear decline primarily reflected lower Fall ’26 wholesale orders and closeout sales • Wholesale net sales growth in our Asia-direct and EMEA Distributor businesses was offset by delayed Fall ’26 wholesale shipments, primarily in the U.S. and Europe-direct • DTC B&M +4%, DTC.com +9% APPAREL, ACCESSORIES & EQUIPMENT: $744M +1% (+1% c.c.) FOOTWEAR: +5% (+5% c.c.) $219M BRAND PERFORMANCE +3% (+3% c.c.) $826M +2% (+3% c.c.) $83M -1% (-1% c.c.) $30M -17% (-16% c.c.) $23M
Q3’26 GROSS MARGIN BRIDGE HEADWINDS • Tariff Refund / Accommodations: reflecting accommodations to our factory partners, partially offset by the current-period benefit of IEEPA tariff refunds previously received TAILWINDS • Channel Profitability: primarily reflecting lower DTC outbound freight costs despite increased fuel prices Q3’26 GROSS MARGIN CONTRACTED 20 BPS Y/Y TO 49.8%
Q3’26 SG&A BRIDGE VS LAST YEAR * Excludes Retail; ** Excludes Advertising Q3’26 SG&A DECREASED $5.3 MILLION, OR 1% Q3’26 SG&A WAS 39.0% OF NET SALES COMPARED TO 40.4% IN Q3’25 PRIMARY SG&A EXPENSE DECREASES • Corporate Overhead and Other: primarily reflecting disciplined expense management • Supply Chain: reflecting disciplined expense management and decreased distribution center expenses • Demand Creation: reflecting a shift in timing of planned spend PRIMARY SG&A EXPENSE INCREASES • Incentive Compensation: y/y changes in accrued incentive compensation • Omni-Channel: primarily reflecting higher DTC B&M expenses from new stores and international DTC sales growth
BALANCE SHEET OVERVIEW Cash, cash equivalents and short-term investments totaled $229.6M, compared to $236.0M as of September 30, 2025. $230M +11% BALANCE SHEET AS OF SEPTEMBER 30, 2026 INVENTORY CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS Inventories +11% y/y to $889.2M. Inventory growth primarily reflected higher in-transit inventory from delayed Fall ’26 receipts and earlier production of Spring ’27 inventory. Inventory at quarter-end primarily consisted of current and future season product, with older season inventories representing a manageable portion of total inventory.
CAPITAL OVERVIEW $281M Net cash flow used in operating activities was $280.5M, compared to $333.4M for the same period in 2025. Capital expenditures totaled $40.8M, compared to $46.6M for the same period in 2025. $200M The Company repurchased 3,342,569 shares of common stock for an aggregate of $200.0M (based on trade date), for an average price per share of $59.83. YTD SHARE REPURCHASES YTD CAPITAL EXPENDITURES YTD NET CASH FLOW USED IN OPERATIONS $0.30 Quarterly dividend ($0.30 per share) – payable on December 3, 2026 to shareholders of record on November 19, 2026. DECLARED DIVIDENDS $41M
2026 AND PRELIMINARY H1’27 FINANCIAL OUTLOOKS The Company’s 2026 and Preliminary H1’27 Financial Outlooks are forward-looking in nature, and the following forward-looking statements reflect our expectations as of October 29, 2026 and are subject to significant risks and business uncertainties, including those factors described under “Forward- Looking Statements” elsewhere in this presentation. These risks and uncertainties limit our ability to accurately forecast results. 2026 Financial Outlook Outlook Compared to 2025 Net sales $3.46B to $3.50B (Prior $3.43B to $3.50B) +2.0% to +3.0% (Prior +1.0% to +3.0%) Gross margin 52.1% to 52.3% (unchanged) +160 bps to +180 bps (unchanged) SG&A percent of net sales 43.8% to 44.0% (Prior 43.6% to 44.2%) -40 bps to -20 bps (Prior -60 bps to Flat) Operating margin 8.7% to 9.1% (Prior: 8.5% to 9.3%) +260 bps to +300 bps (Prior: +240 bps to +320 bps) Effective income tax rate ~25.0% (unchanged) 22.8% Diluted EPS $4.65 to $4.90 (Prior: $4.45 to $4.90) +44% to +51% (Prior: +37% to +51%) U.S. Tariff Assumptions • The Company’s financial outlook assumes current U.S. tariff rates continue through the end of 2026. • As of September 30, 2026, we received refunds of approximately $79 million for IEEPA tariffs previously paid, including interest. Of this amount, for the nine months ended September 30, 2026, $58 million was recognized in earnings, including a benefit of $55 million recognized in cost of sales, net of accommodations to our factory partners, and $2.5 million recognized as interest income. Tariff refunds of $8 million remain deferred in inventory, which we expect to be recognized as a future benefit to gross margin as the associated inventory is sold in the fourth quarter of 2026. Overall, the net impact of tariff refunds increases our 2026 reported EPS by $0.97.
2026 AND PRELIMINARY H1’27 FINANCIAL OUTLOOKS ASSUMPTIONS Net sales Anticipated net sales growth primarily reflects: • Growth from the Columbia, SOREL and prAna brands • International growth led by Europe-direct, China and International Distributors, partially offset by a modest decline in the U.S. • Growth in DTC and wholesale - DTC growing faster than wholesale • Footwear growth faster than apparel • Foreign currency is expected to have a 50 to 70 bps (prior: 30 to 50 bps) favorable impact on full year reported net sales Gross margin Anticipated gross margin expansion primarily reflects: • An approximate 180 basis-point benefit from IEEPA tariff refunds net of accommodations to factory partners • Targeted U.S. price increases for Spring ’26 and Fall ’26 products • Slight favorability in channel and regional sales mix shift; partially offset by: • Higher incremental U.S. tariffs compared to the prior year SG&A expenses Anticipated SG&A expense growth includes: • Higher omni-channel spend, including increased DTC expenses from new stores and variable expenses from planned DTC sales growth; and • Higher incentive compensation expenses compared to reduced levels in 2025; partially offset by • Lower personnel expenses and professional fees in targeted business areas resulting from Profit Improvement Program actions taken in the prior year Demand creation as a percent of net sales is anticipated to be ~6.5% of net sales, compared to 6.5% of net sales in 2025. Share count and foreign currency • The diluted EPS range is based on estimated weighted average diluted shares outstanding of ~51.3M (prior: ~51.4M). • Foreign currency translation and transactional effects are expected to have an approximate $0.10 favorable impact on diluted EPS (unchanged). Cash flow • Operating cash flow is anticipated to be $230M to $250M (prior: $290M to $310M), reflecting earlier production of Spring ’27 inventory, which is expected to increase our year-end inventory balance. • Capital expenditures are planned to be between $60M to $70M (prior $65M to $75M). Q4’26 outlook • Net sales of $1,108M to $1,145M, representing a range of +3.5% to +7.0% compared to Q4’25 - Growth in DTC and growth in wholesale, partly reflecting timing shifts of Fall ’26 shipments from Q3 to Q4 - Growth led by the U.S., Europe-direct and China • Gross margin expansion, primarily resulting from the recognition of remaining tariff refunds • Operating margin of 10.8% to 12.0% of net sales, compared to 10.9% for Q4’25 • Earnings per share is expected to be $1.85 to $2.10, compared to $1.73 for Q4’25 Preliminary H1’27 outlook • Wholesale sales growth of mid-single-digit percent vs. the prior year, in the U.S. and globally
ACCELERATE GROWTH STRATEGY M A R K E T P L AC ECreate elevated omni-channel brand experiences Maintain outlet and value-oriented wholesale distribution Activate brand and product strategies by elevating the position of the Columbia brand in the U.S. marketplace P R O D U C TEmphasize innovation and style Deliver durable, high-value products Streamline assortment with fewer, more powerful collections with clear purpose B R A N D C O N S U M E R Fuel Our Growth Strengthen Our Core Elevate consumers’ perception of the Columbia brand Refreshed creative strategy that brings Columbia’s unique brand personality to life Deliver growth with new consumers Bring new younger, active consumers into the brand Steward core consumer segments Continue to serve existing consumers with accessible outdoor essentials M A R K E T I N G Deliver integrated full-funnel marketing Higher and more efficient demand creation spending, with more creative and immersive ways to experience the brand ACCELERATE is a growth strategy intended to elevate the Columbia brand to attract younger and more active consumers. It is a multi-year effort centered around several consumer-centric shifts to our brand, product and marketplace strategies, as well as enhanced ways of working. Last year, the Columbia brand launched its new brand platform “Engineered for Whatever” through a global brand campaign, released certain new products designed with a younger, more active consumer in mind, and re- launched the U.S. Columbia.com website, with enhanced features and photography. The foundational shifts of the ACCELERATE Growth Strategy are continuing to show tangible signs of traction with our target consumers.
COLUMBIA BRAND STRATEGIC PILLARS 0 50 40 3 OWN THE TRAIL 0 1 DOMINATE WARM 0 2 POWER PFG 0 3 0 4 FUEL OUTDOOR LIFESTYLE ACCELERATE FOOTWEAR 0 5 As the ACCELERATE Growth Strategy evolves, the Columbia brand is sharpening its focus on 5 strategic pillars, and building credibility, relevance and style in outdoor performance and lifestyle.
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Q3’26 CONSTANT-CURRENCY RECONCILIATION
NINE MONTHS FREE CASH FLOW RECONCILIATION
