Hermès International Société en commandite par actions (RMS) Earnings Call Transcripts

Hermès International Société en commandite par actions's Latest Earnings Call - April 17, 2026

In the first quarter of 2026, Hermès International reported strong results for fiscal year 2025, with revenues reaching EUR 16 billion, a 9% increase year-over-year. Operating income rose by 7%, and net income was up 5.5%, reflecting robust demand across most product categories despite geopolitical tensions. Management maintained its guidance for 2026, expressing confidence in the brand's resilience and growth potential, driven by ongoing investments in production capacity and a commitment to quality craftsmanship.

Reported metrics

Guidance from management

Management maintained its guidance for 2026, expressing confidence in continued growth driven by strong customer loyalty and ongoing investments in production and distribution capacity.

What management said

Well, this is a tricky question because I've been told to not answer what I'm about to say. Everybody talks about tariffs. The tariffs in the U.S., as you saw in Eric's presentation, cost us much less than producing in France and paying this surplus tax. So sorry, I don't think it's the most relevant question. So tariffs increased in the U.S., and we increased our prices in the U.S. to compensate. Eric will give you ...

Sometimes we have tariffs of more than 100% in some countries. It's a bit more complicated to navigate. It's sometimes the case in some countries. What happens is that our clients react in 2 ways. First of all, they continue to buy in their stores in their own countries. And you can see that in the figures for the U.S., which is a region that is growing quickly. And sometimes, they'll make a good deal by traveling ab...

What analysts pressed on

Analysts raised concerns about the mixed performance in the perfume and beauty segment and the potential impact of geopolitical tensions on consumer behavior. There is also apprehension regarding the sustainability of growth rates amid increasing competition in the luxury market.

Main topics on the call

• Strong Revenue Growth — Hermès achieved EUR 16 billion in sales for 2025, marking a 9% increase year-over-year. Management noted, "These solid results speak to the success of our collections, our care, our know-how and our vertical integration....
• Operational Investments — The company invested EUR 1.2 billion in operational capacity in 2025, which included opening new leather workshops and expanding production facilities. This investment is crucial for sustaining long-term growth and meeti...
• Job Creation and Employee Compensation — Hermès created over 1,300 jobs in 2025, with a significant portion in France. Additionally, the company provided a EUR 120 pay rise and a EUR 3,000 bonus to its employees, reflecting its commitment to sharing growth bene...
• Geopolitical Challenges — Management acknowledged the complex geopolitical environment but expressed confidence in the brand's resilience. They stated, "In a still uncertain geopolitical context, Hermes is confident about 2026, thanks to its arti...

Read the full Hermès International Société en commandite par actions transcript (April 17, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 68 Hermès International Société en commandite par actions earnings call transcripts on record, spanning February 24, 2020 to July 29, 2026. Based on this history, Hermès International Société en commandite par actions reports quarterly. The most recent call on file is dated July 29, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

RMS

Exchange

ENXTPA

Country

FR

Sector

Consumer Discretionary

Industry

Textiles, Apparel and Luxury Goods

Calls on record

68

First call

February 24, 2020

Most recent

July 29, 2026

Reporting cadence

quarterly