RL Q2 2026 Earnings
Reported Nov 6, 2025 at 8:13 AM ET · SEC Source
Q2 26 EPS
$3.79
BEAT +9.96%
Est. $3.45
Q2 26 Revenue
$2.01B
BEAT +6.66%
Est. $1.89B
vs S&P Since Q2 26
+8.0%
BEATING MARKET
RL +15.4% vs S&P +7.4%
Market Reaction
Did RL Beat Earnings? Q2 2026 Results
Ralph Lauren posted a standout second quarter of Fiscal 2026, delivering adjusted diluted EPS of $3.79 against a consensus estimate of $3.45, a beat of nearly 9.96%, while revenue of $2.01 billion topped expectations by 6.66% and climbed 16.5% year-o… Read more Ralph Lauren posted a standout second quarter of Fiscal 2026, delivering adjusted diluted EPS of $3.79 against a consensus estimate of $3.45, a beat of nearly 9.96%, while revenue of $2.01 billion topped expectations by 6.66% and climbed 16.5% year-over-year. The headline driver was broad-based momentum across all three geographic segments, with direct-to-consumer comparable store sales rising 13% globally as the company's brand elevation strategy kept full-price selling strong and promotional activity well below plan. China was a particular standout, posting revenue growth above 30% for the second consecutive quarter, reinforcing the thesis that Asia remains a durable growth engine for premium apparel brands. Gross margin expanded 100 basis points to 68.0%, while adjusted operating margin widened 270 basis points to 14.1%, reflecting both pricing power and operating leverage. Encouraged by the momentum, management raised its full-year Fiscal 2026 outlook, now guiding for constant currency revenue growth of 5% to 7% alongside 60 to 80 basis points of operating margin expansion.
Key Takeaways
- • Global DTC comparable store sales grew 13%, driven by broad-based performance across regions and channels
- • Average unit retail (AUR) increased 12% across DTC network, above expectations, reflecting brand elevation and strong full-price selling
- • 1.5 million new consumers acquired in DTC businesses
- • High-potential categories (Women's Apparel, Outerwear, Handbags) increased strong double-digits, outpacing total Company growth
- • Core business momentum up mid-teens
- • China revenue increased more than 30% year-over-year
- • Gross margin expanded 100 basis points to 68.0% driven by AUR growth, favorable product mix, and lower cotton costs
- • Adjusted operating margin expanded 270 basis points to 14.1% driven by operating expense leverage
- • Favorable tax rate decline from 21.5% to 15.5% adjusted, driven by favorable tax benefits
RL YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
RL Revenue by Segment
With YoY comparisons, source: SEC Filings
RL Revenue by Geography
With YoY comparisons, source: SEC Filings
“We are off to a strong start in the execution of our Next Great Chapter: Drive strategic plan introduced at our Investor Day in September, with second quarter performance outpacing our expectations across geographies, channels and consumer segments.”
— Patrice Louvet, Q2 2026 Earnings Press Release
RL Earnings Trends
RL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
RL EPS Trend
Earnings per share: estimate vs actual
RL Revenue Trend
Quarterly revenue: estimate vs actual
RL Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 BEAT | $5.81 | $6.22 | +7.10% | $2.41B | +4.16% |
| Q2 26 BEAT | $3.45 | $3.79 | +9.96% | $2.01B | +6.66% |
| Q1 26 BEAT | $3.50 | $3.77 | +7.79% | $1.72B | +3.78% |
| Q4 25 BEAT FY | $2.04 | $2.27 | +11.27% | $1.70B | +3.02% |
| FY Full Year | $12.09 | $12.33 | +2.02% | $7.08B | +0.71% |