Stella International (1836) Q3 2025 TU earnings summary

Executive summary

• Consolidated revenue for Q3 2025 rose 3.7% year-over-year to US$404.2 million, and for the nine months ended September 2025, revenue increased 1.7% to US$1,179.2 million.

• Manufacturing business saw shipment volumes up 7.8% in Q3 and 5.1% for the nine-month period, mainly due to strong demand in the Sports segment and new customer ramp-ups.

Financial highlights

• Q3 2025 manufacturing revenue grew 3.6% year-over-year to US$391.6 million; nine-month revenue up 1.6% to US$1,145.1 million.

• Average selling price (ASP) per pair declined 3.8% in Q3 and 3.1% for the nine months, reflecting a higher mix of lower-ASP Sports segment sales.

Outlook and guidance

• New production facilities in Indonesia and the Philippines are scheduled to commence operations in the second half of 2026.

• Commitment to return up to US$60 million per year to shareholders in 2025 and 2026 via share repurchases and special dividends, in addition to regular dividends with a 70% payout ratio.