• Net sales increased 2 percent (1 percent constant-currency) to $614.4 million, compared to second quarter 2025.
• In second quarter 2026, the Company received a refund of approximately $78 million of the International Emergency Economic Powers Act ("IEEPA") tariffs previously paid, including interest. Of this amount, $62 million was recognized in earnings, including a benefit of $60 million recognized in cost of sales and $2 million recognized as interest income, and $15 million was recognized as a reduction to inventory, which will benefit cost of sales as the associated inventory is sold in future periods.
• Gross margin expanded 920 basis points to 58.3 percent of net sales from 49.1 percent of net sales in second quarter 2025. Second quarter 2026 gross margin includes approximately a 980 basis point benefit from the recovery of IEEPA tariffs.
• Operating income of $30.9 million, or 5.0 percent of net sales, compared to second quarter 2025 operating loss of $23.6 million, or 3.9 percent of net sales.
• Diluted earnings per share of $0.52, compared to second quarter 2025 net loss per diluted share of $0.19. The recovery of IEEPA tariffs referred to above benefited diluted earnings per share by $0.93.
• Exited the quarter with $624.6 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 July 30, 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 $3.43 to $3.50 billion (unchanged), representing net sales growth of 1.0 to 3.0 percent (unchanged) compared to 2025.
• Gross margin of 52.1 percent to 52.3 percent (prior 50.3 percent to 50.5 percent), including the impact of IEEPA tariff refunds.
• Operating income of $290 to $325 million (prior $230 to $262 million), representing operating margin of 8.5 to 9.3 percent of net sales (prior 6.7 to 7.5 percent).
• Diluted earnings per share of $4.45 to $4.90 (prior $3.55 to $4.00).

PORTLAND, Ore.--(BUSINESS WIRE)-- 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 second quarter 2026 financial results for the period ended June 30, 2026.

Chairman and Chief Executive Officer Tim Boyle commented, “We’re pleased to have delivered net sales exceeding our guidance for the second quarter, driven by the resilience of our international business, which was partly offset by continued softness in the U.S., amid growing global macroeconomic headwinds.

“Our reported second quarter earnings and profit margins include the impact of U.S. tariff refunds recognized during the quarter. Excluding this impact, our underlying performance was largely in-line with our expectations.

“We continue to see encouraging signs of progress with our ACCELERATE Growth Strategy. We are particularly pleased with our strong second quarter performance in Columbia brand footwear, one of the brand's strategic growth pillars.

“While our first half operating results have been in-line to slightly favorable overall as compared to our expectations at the start of the year, our outlook for the second half has incrementally moderated, largely due to external geopolitical and macroeconomic headwinds. That said, we continue to expect our full-year results to fall within the guidance ranges previously provided, excluding the impact of tariff refunds.

“Despite the more challenging environment, we remain confident that the Columbia brand ACCELERATE Growth Strategy is beginning to gain traction and is 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 second 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 starting to show tangible signs of traction with our target consumers. As the strategy evolves, the Columbia brand is sharpening its focus on strategic pillars, which leverage our authenticity and heritage in outdoor performance and lifestyle. For more information on the ACCELERATE Growth Strategy, please refer to the CFO Commentary and Financial Review presentation.

Second Quarter 2026 Financial Results

(All comparisons are between second quarter 2026 and second quarter 2025, unless otherwise noted.)

Net sales increased 2 percent (1 percent constant-currency) to $614.4 million from $605.2 million for the comparable period in 2025. Sales growth in most of our international markets was partially offset by lower U.S. net sales, primarily reflecting lower Spring 2026 wholesale orders and, to a lesser extent, declines in our direct-to-consumer brick-and-mortar ("DTC B&M") business.

Gross margin expanded 920 basis points to 58.3 percent of net sales from 49.1 percent of net sales for the comparable period in 2025. Gross margin expansion primarily reflected an approximate 980 basis point benefit from the recovery of IEEPA tariffs, partially offset by unfavorable channel profitability resulting from increased promotional activity within DTC B&M.

SG&A expenses were $332.2 million, or 54.1 percent of net sales, compared to $325.6 million, or 53.8 percent of net sales, for the comparable period in 2025. The largest changes in SG&A expenses were driven by higher DTC expenses, including store impairment charges and the impact of new stores, partially offset by lower enterprise technology expenses resulting from prior-year actions taken as part of our Profit Improvement Program.

Operating income of $30.9 million, or 5.0 percent of net sales, compared to operating loss of $23.6 million, or 3.9 percent of net sales, for the comparable period in 2025.

Interest income, net of $6.2 million, compared to $4.8 million for the comparable period in 2025.

Income tax expense of $9.7 million resulted in an effective income tax rate of 26.8 percent, compared to income tax benefit of $6.4 million, or an effective income tax rate of 38.5 percent, for the comparable period in 2025.

Net income of $26.6 million, or $0.52 per diluted share, compared to net loss of $10.2 million, or $0.19 per diluted share, for the comparable period in 2025. The recovery of IEEPA tariffs benefited diluted earnings per share by $0.93.

First Half 2026 Financial Results

(All comparisons are between first half 2026 and first half 2025, unless otherwise noted.)

Net sales increased 1 percent (decreased 1 percent on a constant-currency basis) to $1,393.4 million from $1,383.7 million for the comparable period in 2025.

Gross margin expanded 400 basis points to 54.1 percent of net sales from 50.1 percent of net sales for the comparable period in 2025. Gross margin expansion primarily reflected an approximate 430 basis point benefit from the recovery of IEEPA tariffs, partially offset by unfavorable channel profitability resulting from increased promotional activity within DTC B&M.

SG&A expenses were $689.3 million, or 49.5 percent of net sales, compared to $680.1 million, or 49.2 percent of net sales, for the comparable period in 2025.

Operating income of $72.9 million, or 5.2 percent of net sales, compared to $22.9 million, or 1.7 percent of net sales, for the comparable period in 2025.

Interest income, net of $11.1 million, compared to $11.7 million for the comparable period in 2025.

Income tax expense of $22.7 million resulted in an effective income tax rate of 27.2 percent, compared to $6.2 million, or an effective income tax rate of 16.3 percent, for the comparable period in 2025.

Net income of $60.9 million, or $1.17 per diluted share, compared to $32.1 million, or $0.58 per diluted share, in 2025. The recovery of IEEPA tariffs benefited diluted earnings per share by $0.92.

Balance Sheet as of June 30, 2026

Cash, cash equivalents, and short-term investments totaled $624.6 million, compared to $579.0 million as of June 30, 2025.

The Company had no borrowings as of either June 30, 2026 or June 30, 2025.

Inventories decreased 6 percent to $874.8 million, compared to $926.9 million as of June 30, 2025.

Cash Flow for the Six Months Ended June 30, 2026

Net cash provided by operating activities was $37.5 million, compared to net cash used in operating activities of $62.9 million for the comparable period in 2025.

Capital expenditures totaled $25.8 million, compared to $30.0 million for the comparable period in 2025.

Share Repurchases for the Six Months Ended June 30, 2026

In first quarter 2026, the Company repurchased 2,498,685 shares of common stock for an aggregate of $150.0 million, or an average price per share of $60.03. The Company did not repurchase shares during second quarter 2026.

At June 30, 2026, $276.5 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 September 3, 2026 to shareholders of record on August 20, 2026.

Full Year 2026 Financial Outlook

(Additional financial outlook details can be found in the CFO Commentary and Financial Review presentation.)

The Company's full year 2026 and third quarter 2026 Financial Outlooks are forward-looking in nature, and the following forward-looking statements reflect our expectations as of July 30, 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 1.0 to 3.0 percent (unchanged), resulting in net sales of $3.43 to $3.50 billion, compared to $3.40 billion in 2025. Foreign currency translation is expected to benefit net sales by approximately 30 to 50 basis points (prior 50 to 100 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 (prior 50.3 to 50.5 percent), compared to 50.5 percent of net sales in 2025. Gross margin expectations include an approximate 180 basis points benefit from IEEPA tariff refunds recognized in second quarter 2026.

SG&A expenses, as a percent of net sales, are expected to be 43.6 to 44.2 percent (unchanged), compared to SG&A expense as a percent of net sales of 44.2 percent in 2025.

Operating margin is expected to be 8.5 to 9.3 percent of net sales (prior 6.7 to 7.5 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 (prior 24.0 to 25.0 percent).

Diluted earnings per share is expected to be $4.45 to $4.90 (prior $3.55 to $4.00), compared to $3.24 in 2025.

Operating cash flow is expected to be $290 to $310 million (prior $300 to $330 million).

Capital expenditures are planned to be in the range of $65 to $75 million (unchanged), roughly in-line with our run rate over the past several years.

Third Quarter 2026 Financial Outlook

• Net sales are expected to be $929 to $943 million, representing a decrease of 1.5 percent to flat from $943 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 8.1 to 9.5 percent of net sales, compared to operating income of 7.1 percent of net sales in the comparable period in 2025. Operating margin includes SG&A expense deleverage driven by slight SG&A growth and gross margin contraction primarily resulting from the impact of anticipated accommodations to our factory partners, partially offset by the expected cost of sales benefit from IEEPA tariff refunds included in inventory.
• Diluted earnings per share is expected to be $1.15 to $1.35, compared to $0.95 for the comparable period in 2025. This range reflects an estimated effective tax rate of approximately 25% for the third quarter.

Conference Call

The Company will hold its second 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.

Third Quarter 2026 Reporting Date

The Company plans to report third quarter 2026 financial results on Thursday, October 29, 2026 at approximately 4:05 p.m. ET.

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, drive long-term market share gains and manage expenses, 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, as well as third quarter 2026 net sales, operating margin, and diluted earnings per share. Forward-looking statements often use words such as "will," "anticipate," "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 execute and realize cost savings related to our Profit Improvement Plan; 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' 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260730738266/en/

Investor Relations Contact:
Matt Tucker
(503) 985-1445
investorrelations@columbia.com

Source: Columbia Sportswear Company

Columbia Sportswear Company (Nasdaq: COLM) plans to release second quarter 2026 financial results at approximately 4:05 p.m. ET on Thursday, July 30, 2026.

At approximately 4:15 p.m. ET, a commentary by Jim Swanson, Executive Vice President and Chief Financial Officer, reviewing the company's second quarter 2026 financial results will be furnished to the SEC on Form 8-K and published to the company's website at https://investor.columbia.com/financial-results. Analysts and investors are encouraged to review this commentary prior to participating in a conference call hosted by senior management at 5:00 p.m. ET.

To listen to the conference call, please dial 888-506-0062. The call will also be webcast live on the Investor Relations section of the Company’s website at http://investor.columbia.com where it will remain available until approximately July 30, 2027.

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 today sold in more than 100 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260716144830/en/

Investor Relations Contact:
Matt Tucker
503-985-1445
investorrelations@columbia.com

Source: Columbia Sportswear Company

“We’re excited to welcome Joe Vernachio back to the Columbia Sportswear family,” said Tim Boyle, CEO and Chair of the Board. “Joe is a terrific leader who can build on the great work, talent and momentum in place at SOREL.”

Mr. Vernachio led the Mountain Hardwear brand for several years, until he left to become the COO and ultimately, the CEO of Allbirds. His background also includes time as Global Vice President for Product and Operations at The North Face, and key roles at Nike, Spyder, Roots, Calvin Klein and Patagonia.

“Joe is a consumer‑focused, collaborative leader with a deep passion for product and brand storytelling. His energy, expertise, and proven leadership will help fuel scalable growth and meaningful brand expansion for SOREL,” said Craig Zanon, EVP, Europe Direct, Asia Direct and Emerging Brands.

Mr. Vernachio will begin on June 22, 2026.

About Columbia Sportswear Company:

Columbia Sportswear Company has assembled a portfolio of brands for active lives, making it a leader in the global active lifestyle apparel, footwear, accessories, and equipment industry. Founded in 1938 in Portland, Oregon, the company's brands are today sold in approximately 90 countries. In addition to the Columbia® brand, Columbia Sportswear Company also owns the Mountain Hardwear®, 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.

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 growth of the Columbia brand and the Company. Forward-looking statements often use words such as "will," "anticipate," "estimate," "expect," "should," "may" 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. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260617501473/en/

Mary Ellen Glynn
Sr. Director, Corporate Communications
Columbia Sportswear Company
mglynn@columbia.com

Source: Columbia Sportswear Company

PORTLAND, Ore.--(BUSINESS WIRE)-- Since debuting its “Engineered for Whatever” brand platform, Columbia Sportswear (Nasdaq: COLM) has pushed its gear to the limits through bold, unexpected outdoor test scenarios. Now, the brand is raising the bar with a surprising spin on a classic nature documentary starring Columbia’s global brand ambassador Robert Irwin.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260512495005/en/

Robert Irwin seen outrunning several inflatable crocodiles as he puts Columbia's Tellurix Titanium OutDry shoes to the test in Australia.

Filmed in Australia, the new spot depicts a high-stakes chase through the outback, with Irwin relying on his wilderness instincts and his Columbia gear to outrun and outwit a massive throng of crocodiles. At the center of it all, Irwin puts Columbia’s Tellurix™ Titanium™ OutDry™ Shoes to the ultimate test and relies on the superior traction, stability, and all-terrain performance throughout the comedic chase. Fans of “Dancing with the Stars” will even see some easter eggs from Robert’s winning performance.

“We’re having a blast bringing ‘Engineered for Whatever’ to life, and Robert’s sense of humor, love for mother nature, and his taste for adventure make him the perfect star for our spring campaign,” said Matt Sutton, Head of Marketing at Columbia Sportswear. “He never holds anything back – wrangling wildlife in the outback, owning the dance floor, or outrunning a herd of rabid inflatable crocodiles.”

“I've spent my entire life around crocs, but I’ve never faced a challenge quite like this. I never thought I’d be outrunning dozens of crocodiles in the middle of the Aussie outback,” said Robert Irwin. “I’ve been putting Columbia’s gear to the test my entire life, so when they asked me to help show how it holds up through my unexpected adventures, I was all in!”

To add a sense of intrigue ahead of the global release of the new spot, the team cut several of Irwin’s action scenes to promote a faux film titled “Max Impact.” The stunt got quite a bit of attention across social media and many of his fans were thrilled to see yet another side of Irwin. The fake teaser (seen HERE) included activations on billboards, a fake website, projections, YouTube channels, and more.

“As we were filming, Robert mentioned how the chases and stunts made it feel like he was at the center of an action movie,” explains Sutton. “We thought he was onto something and leaned into his ‘action hero’ idea to introduce the spot. Robert has such a great sense of humor and was excited to play along with the ‘trailer’ we leaked. And given his incredible talent, we have zero doubts that we’re looking at the next Hollywood action star.”

The full spot can be viewed HERE and image assets can be viewed HERE.

About Columbia Sportswear

Columbia, the flagship brand of Portland, Oregon-based Columbia Sportswear Company, has been creating innovative apparel, footwear, accessories, and equipment for outdoor enthusiasts since 1938. Columbia has become a leading global brand by channeling the company’s innovative spirit and passion for the outdoors into technologies and performance products that keep people warm, dry, cool and protected year-round. To learn more, please visit the company's website at www.columbia.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260512495005/en/

Media Contact:

Andy Nordhoff
Director of Communications
anordhoff@columbia.com

Wendy Villalta
We. Communications
wvillalta@wecommunications.com

Source: Columbia Sportswear Company

• Net sales were relatively flat (decrease of 3 percent on a constant-currency basis) at $779.0 million, compared to first quarter 2025.
• Gross margin contracted 20 basis points to 50.7 percent of net sales from 50.9 percent of net sales in first quarter 2025.
• Operating income decreased 10 percent to $42.0 million, or 5.4 percent of net sales, compared to first quarter 2025 operating income of $46.5 million, or 6.0 percent of net sales.
• Diluted earnings per share of $0.65, compared to first quarter 2025 diluted earnings per share of $0.75.
• Exited the quarter with $535.4 million of cash, cash equivalents and short-term investments and no borrowings.
• The Company repurchased $150.0 million of common stock during the quarter.

Full Year 2026 Financial Outlook

The following forward-looking statements reflect our expectations as of April 30, 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 $3.43 to $3.50 billion (unchanged), representing net sales growth of 1.0 to 3.0 percent (unchanged) compared to 2025.
• Gross margin of 50.3 percent to 50.5 percent (prior 49.8 percent to 50.0 percent), including an improvement resulting from lower-than-planned U.S. tariffs driven by the temporary tariffs that are in place through July 2026.
• Operating income of $230 to $262 million (prior $211 to $243 million), representing operating margin of 6.7 to 7.5 percent of net sales (prior 6.2 to 6.9 percent).
• Diluted earnings per share of $3.55 to $4.00 (prior $3.20 to $3.65).

PORTLAND, Ore.--(BUSINESS WIRE)-- 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 first quarter 2026 financial results for the period ended March 31, 2026.

Chairman and Chief Executive Officer Tim Boyle commented, “We’re pleased to have delivered net sales and profitability exceeding our guidance for the first quarter, driven by early Spring 2026 wholesale shipments and better-than-expected demand in Europe and the U.S. The strength of our international business continues to lead our growth. Our U.S. business declined, which was largely expected due to a lower Spring 2026 wholesale order book, and our decisions taken last year to reduce supply of winter season products as a precautionary measure in response to U.S. tariff announcements.

“Looking ahead, I’m encouraged by signs of growing momentum in the U.S., including an expected inflection back to wholesale growth in the second half based on our Fall 2026 order book. With our Engineered for Whatever campaign grabbing consumers’ attention and reminding them of our irreverent roots, coupled with new and innovative products that are resonating with consumers, it’s increasingly clear to me that the Columbia ACCELERATE Growth Strategy is gaining traction. We are updating our earnings guidance for 2026, based in part on a temporary improvement in U.S. tariff rates.

“The operating environment remains highly dynamic, with the conflict in the Middle East creating additional uncertainty for our business since last quarter. In this environment, we are fortunate to have a highly experienced leadership team, a resilient and flexible global supply chain, and a fortress balance sheet as key competitive advantages. 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 first 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. 2025 was an important milestone in this journey. The Columbia brand launched its new brand platform “Engineered for Whatever” through a global brand campaign in print, on social, and in-person. The Columbia brand also 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. We’re encouraged with early indicators, which signal that our differentiated marketing communications and enhanced products are resonating with consumers, providing us confidence as we plan for future seasons. For more information on the ACCELERATE Growth Strategy, please refer to the CFO Commentary and Financial Review presentation.

First Quarter 2026 Financial Results

(All comparisons are between first quarter 2026 and first quarter 2025, unless otherwise noted.)

Net sales were relatively flat (decrease of 3 percent on a constant-currency basis) at $779.0 million from $778.5 million for the comparable period in 2025. Sales growth in most of our international markets was offset by a decline in the U.S. due to a lower U.S. wholesale Spring 2026 orderbook and lack of inventory to fulfill first quarter demand due to our decision, in the prior year, to reduce supply of certain winter season products as a precautionary measure in response to U.S. tariff announcements.

Gross margin contracted 20 basis points to 50.7 percent of net sales from 50.9 percent of net sales for the comparable period in 2025. Gross margin contraction primarily reflected a 310 basis point impact of unmitigated incremental U.S. tariffs, partially offset by mitigation tactics, which primarily included targeted price increases.

SG&A expenses were $357.1 million, or 45.8 percent of net sales, compared to $354.5 million, or 45.5 percent of net sales, for the comparable period in 2025. The largest changes in SG&A expenses were driven by higher DTC expenses, partially offset by lower enterprise technology and supply chain expenses, resulting from prior-year actions taken as part of our Profit Improvement Program. SG&A included an unfavorable impact of $6.7 million from foreign currency translation.

Operating income decreased 10 percent to $42.0 million, or 5.4 percent of net sales, compared to operating income of $46.5 million, or 6.0 percent of net sales, for the comparable period in 2025. Operating margin included a favorable impact of $5.3 million from foreign currency translation.

Interest income, net of $4.9 million, compared to $6.8 million for the comparable period in 2025.

Income tax expense of $13.0 million resulted in an effective income tax rate of 27.4 percent, compared to income tax expense of $12.6 million, or an effective income tax rate of 23.0 percent, for the comparable period in 2025.

Net income was $34.3 million, or $0.65 per diluted share, compared to net income of $42.2 million, or $0.75 per diluted share, for the comparable period in 2025. Net income and diluted earnings per share included a favorable impact of $4.7 million and $0.09 per diluted share, respectively, from foreign currency translation.

Balance Sheet as of March 31, 2026

Cash, cash equivalents, and short-term investments totaled $535.4 million, compared to $658.4 million as of March 31, 2025.

The Company had no borrowings as of either March 31, 2026 or March 31, 2025.

Inventories were relatively flat at $624.0 million, compared to $623.7 million as of March 31, 2025.

Cash Flow for the Three Months Ended March 31, 2026

Net cash used in operating activities was $77.5 million, compared to $32.0 million in 2025.

Capital expenditures totaled $12.4 million, compared to $15.6 million in 2025.

Share Repurchases for the Three Months Ended March 31, 2026

The Company repurchased 2,498,685 shares of common stock for an aggregate of $150.0 million, or an average price per share of $60.03.

At March 31, 2026, $276.5 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 June 4, 2026 to shareholders of record on May 21, 2026.

Full Year 2026 Financial Outlook

(Additional financial outlook details can be found in the CFO Commentary and Financial Review presentation.)

The Company's full year 2026 and second quarter 2026 Financial Outlook is forward-looking in nature, and the following forward-looking statements reflect our expectations as of April 30, 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 current U.S. tariff rates continue through July 2026 before returning to rates approximate to levels that were in place prior to the Supreme Court's tariff ruling.

Net sales are expected to increase 1.0 to 3.0 percent (unchanged), resulting in net sales of $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 100 basis points (unchanged).

Gross margin is expected to contract up to 20 basis points resulting in gross margin of 50.3 to 50.5 percent of net sales (prior 49.8 to 50.0 percent), compared to 50.5 percent of net sales in 2025. Gross margin expectations include roughly 200 basis points (prior 300 basis points) of unfavorable impact from incremental tariffs prior to mitigation actions.

SG&A expenses, as a percent of net sales, are expected to be 43.6 to 44.2 percent (unchanged), compared to SG&A expense as a percent of net sales of 44.2 percent in 2025.

Operating margin is expected to be 6.7 to 7.5 percent of net sales (prior 6.2 to 6.9 percent), compared to operating margin of 6.1 percent of net sales in 2025.

Effective income tax rate is expected to be 24.0 to 25.0 percent (unchanged).

Diluted earnings per share is expected to be $3.55 to $4.00 (prior $3.20 to $3.65), compared to $3.23 in 2025.

Operating cash flow is expected to be $300 to $330 million.

Capital expenditures are planned to be in the range of $65 to $75 million (unchanged), roughly in-line with our run rate over the past several years.

Second Quarter 2026 Financial Outlook

• Net sales are expected to be $600 to $610 million, representing a decrease of 1.0 percent to an increase of 1.0 percent from $605 million for the comparable period in 2025. Foreign currency translation is not expected to have a material impact on net sales.

• Operating loss is expected to be 5.5 to 4.5 percent of net sales, compared to operating loss of 3.9 percent of net sales in the comparable period in 2025. Operating margin includes SG&A expense deleverage driven by low-single-digit percent SG&A growth and gross margin contraction primarily resulting from the impact of unmitigated incremental U.S. tariffs.

• Diluted loss per share is expected to be $0.46 to $0.37, compared to $0.19 for the comparable period in 2025. This range reflects an estimated effective tax rate of approximately 20% for the second quarter.

Conference Call

The Company will hold its first 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.

Second Quarter 2026 Reporting Date

The Company plans to report second quarter 2026 financial results on Thursday, July 30, 2026 at approximately 4:05 p.m. ET.

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, drive long-term market share gains and manage expenses, financial position, marketing strategies, anticipated product launches, timing and payment of dividends, the impact of foreign currency translation, the effect of, and any changes to, tariff rates, 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, as well as second quarter 2026 net sales, operating margin, and diluted earnings (loss) per share. Forward-looking statements often use words such as "will," "anticipate," "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 execute and realize cost savings related to our Profit Improvement Plan; 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 customer’s 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; 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 115 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260430676623/en/

Investor Relations Contact:
Matt Tucker
(503) 505-4898
investorrelations@columbia.com

Source: Columbia Sportswear Company

At approximately 4:15 p.m. ET, a commentary by Jim Swanson, Executive Vice President and Chief Financial Officer, reviewing the company's first quarter 2026 financial results will be furnished to the SEC on Form 8-K and published to the company's website at https://investor.columbia.com/financial-results. Analysts and investors are encouraged to review this commentary prior to participating in a conference call hosted by senior management at 5:00 p.m. ET.

To listen to the conference call, please dial 888-506-0062. The call will also be webcast live on the Investor Relations section of the Company’s website at http://investor.columbia.com where it will remain available until approximately April 30, 2027.

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 today sold in more than 100 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260416564230/en/

Investor Relations Contact:
Matt Tucker
503-505-4898
investorrelations@columbia.com

Source: Columbia Sportswear Company

• Net sales decreased 2 percent (3 percent on a constant-currency basis) to $1,070.2 million, compared to fourth quarter 2024.
• Gross margin expanded 50 basis points to 51.6 percent of net sales from 51.1 percent of net sales in fourth quarter 2024. Fourth quarter 2025 gross margin included $20.0 million of incremental U.S. tariffs, prior to mitigation tactics.
• Operating income decreased 15 percent to $116.7 million, or 10.9 percent of net sales, compared to fourth quarter 2024 operating income of $137.3 million, or 12.5 percent of net sales.
• Diluted earnings per share of $1.73, compared to fourth quarter 2024 diluted earnings per share of $1.80.
• Exited the quarter with $790.8 million of cash, cash equivalents and short-term investments and no borrowings.

Full Year 2025 Highlights

• Net sales increased 1 percent (1 percent on a constant-currency basis) to $3,397.4 million, compared to 2024.
• Gross margin expanded 30 basis points to 50.5 percent of net sales from 50.2 percent of net sales, compared to 2024. 2025 gross margin included $31.0 million of incremental U.S. tariffs, prior to mitigation tactics.
• Operating income decreased 23.5 percent to $207.0 million, or 6.1 percent of net sales, compared to 2024 operating income of $270.7 million, or 8.0 percent of net sales. 2025 operating income included $29.0 million of impairment charges related to prAna and Mountain Hardwear.
• Diluted earnings per share of $3.24, compared to 2024 diluted earnings per share of $3.82. Impairment charges, referred to above, negatively impacted diluted earnings per share by $0.45.

Full Year 2026 Financial Outlook

The following forward-looking statements reflect our expectations as of February 3, 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 $3.43 to $3.50 billion, representing net sales growth of 1.0 to 3.0 percent compared to 2025.
• Operating income of $211 to $243 million, representing operating margin of 6.2 to 6.9 percent of net sales.
• Diluted earnings per share of $3.20 to $3.65.

PORTLAND, Ore.--(BUSINESS WIRE)-- 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 fourth quarter and full year 2025 financial results for the period ended December 31, 2025.

Chairman and Chief Executive Officer Tim Boyle commented, “We’re pleased to have delivered net sales and profitability exceeding our guidance for the fourth quarter driven by better-than-expected demand in the U.S. While our U.S. business remains challenged, I’m encouraged with continued growth internationally combined with early signs of momentum indicating that the Columbia ACCELERATE Growth Strategy is resonating with consumers, including new and enhanced product collections and differentiated marketing.

“Over the past few months, we've witnessed brand momentum as consumers embraced our new product collections, with even more exciting launches on the horizon. 'Engineered for Whatever' has not only re-energized our unique brand voice but has provided powerful differentiation in a competitive marketplace.

“This momentum positions us well for continued success as we execute our vision and continue investing across all our brands 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 fourth quarter and full year 2025 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. 2025 was an important milestone in this journey. The Columbia brand launched its new brand platform “Engineered for Whatever” through a global brand campaign in print, on social, and in-person. The Columbia brand also 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. We’re encouraged with early indicators, which signal that our differentiated marketing communications and enhanced products are resonating with consumers, providing us confidence as we plan for future seasons. For more information on the ACCELERATE Growth Strategy, please refer to the CFO Commentary and Financial Review presentation.

Fourth Quarter 2025 Financial Results

(All comparisons are between fourth quarter 2025 and fourth quarter 2024, unless otherwise noted.)

Net sales decreased 2 percent (3 percent on a constant-currency basis) to $1,070.2 million from $1,096.6 million for the comparable period in 2024. The decrease primarily reflected earlier shipment of Fall '25 wholesale orders, partially offset by a modest increase in direct-to consumer ("DTC") net sales. Sales decline in the U.S. was partially offset by growth in international markets.

Gross margin expanded 50 basis points to 51.6 percent of net sales from 51.1 percent of net sales for the comparable period in 2024. Gross margin expansion included healthier inventory composition resulting in less clearance and promotional activity, as well as lower inventory loss provisions, partially offset by the impact of incremental U.S. tariffs. Incremental U.S. tariffs prior to mitigation actions impacted gross margin by $20.0 million.

SG&A expenses were $441.5 million, or 41.3 percent of net sales, compared to $430.6 million, or 39.3 percent of net sales, for the comparable period in 2024. The largest changes in SG&A expenses were driven by higher DTC expenses and other non-recurring SG&A expenses associated with our profit improvement program, partially offset by lower enterprise technology and supply chain expenses, largely resulting from our profit improvement program.

Operating income decreased 15 percent to $116.7 million, or 10.9 percent of net sales, compared to operating income of $137.3 million, or 12.5 percent of net sales, for the comparable period in 2024.

Interest income, net of $3.3 million, compared to $4.8 million for the comparable period in 2024.

Income tax expense of $27.2 million resulted in an effective income tax rate of 22.6 percent, compared to income tax expense of $37.3 million, or an effective income tax rate of 26.7 percent, for the comparable period in 2024.

Net income was $93.2 million, or $1.73 per diluted share, compared to net income of $102.6 million, or $1.80 per diluted share, for the comparable period in 2024.

Full Year 2025 Financial Results

(All comparisons are between full year 2025 and full year 2024, unless otherwise noted.)

Net sales increased 1 percent (1 percent on a constant-currency basis) to $3,397.4 million from $3,368.6 million in 2024.

Gross margin expanded 30 basis points to 50.5 percent of net sales from 50.2 percent of net sales in 2024. Incremental U.S. tariffs prior to mitigation actions impacted gross margin by $31.0 million.

SG&A expenses were $1,502.5 million, or 44.2 percent of net sales, compared to $1,443.9 million, or 42.9 percent of net sales in 2024.

Impairment of goodwill and intangible assets included $29.0 million of charges related to prAna and Mountain Hardwear.

Operating income decreased 24 percent to $207.0 million, or 6.1 percent of net sales, compared to operating income of $270.7 million, or 8.0 percent of net sales in 2024.

Interest income, net of $17.9 million, compared to $27.7 million in 2024.

Income tax expense of $52.4 million resulted in an effective income tax rate of 22.8 percent, compared to income tax expense of $74.9 million, or an effective income tax rate of 25.1 percent, in 2024.

Net income decreased 21 percent to $177.2 million, or $3.24 per diluted share, compared to net income of $223.3 million, or $3.82 per diluted share, in 2024. The impairment charges related to prAna and Mountain Hardwear negatively impacted diluted earnings per share by $0.45 in 2025.

Balance Sheet as of December 31, 2025

Cash, cash equivalents, and short-term investments totaled $790.8 million, compared to $815.5 million as of December 31, 2024.

The Company had no borrowings as of either December 31, 2025 or December 31, 2024.

Inventories were essentially flat at $689.5 million, compared to $690.5 million as of December 31, 2024.

Cash Flow for the Twelve Months Ended December 31, 2025

Net cash provided by operating activities was $282.9 million, compared to $491.0 million in 2024.

Capital expenditures totaled $66.2 million, compared to $59.8 million in 2024.

Share Repurchases for the Twelve Months Ended December 31, 2025

The Company repurchased 2,972,889 shares of common stock for an aggregate of $201.1 million, or an average price per share of $67.64.

At December 31, 2025, $426.5 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 March 20, 2026 to shareholders of record on March 9, 2026.

Full Year 2026 Financial Outlook

(Additional financial outlook details can be found in the CFO Commentary and Financial Review presentation.)

The Company's 2026 Financial Outlook is forward-looking in nature, and the following forward-looking statements reflect our expectations as of February 3, 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 Full Year and First Quarter 2026 Financial Outlooks, reflect U.S. tariff rates in place on February 3, 2026.

Net sales are expected to increase 1.0 to 3.0 percent, resulting in net sales of $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 100 basis points.

Gross margin is expected to contract 70 to 50 basis points to 49.8 to 50.0 percent of net sales, compared to 50.5 percent of net sales in 2025. Gross margin expectations include roughly a 300 basis point unfavorable impact of incremental tariffs prior to mitigation actions.

SG&A expenses, as a percent of net sales, are expected to be 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 6.2 to 6.9 percent of net sales, compared to operating margin of 6.1 percent of net sales in 2025.

Effective income tax rate is expected to be 24.0 to 25.0 percent.

Diluted earnings per share is expected to be $3.20 to $3.65, compared to $3.23 in 2025.

Operating cash flow is expected to be $300 to $330 million.

Capital expenditures are planned to be in the range of $65 to $75 million, roughly in-line with our run rate over the past several years.

First Quarter 2026 Financial Outlook

• Net sales are expected to be $747 to $759 million, representing a decrease of 4.0 to 2.5 percent from $778 million for the comparable period in 2025. Foreign currency translation is expected to benefit net sales by approximately 200 basis points.
• Operating margin is expected to be 2.1 to 2.9 percent of net sales, compared to operating margin of 6.0 percent of net sales in the comparable period in 2025. Operating margin includes SG&A expense deleverage driven by low-single-digit percent SG&A growth on declining net sales, and gross margin contraction primarily resulting from the impact of unmitigated incremental U.S. tariffs.
• Diluted earnings per share is expected to be $0.29 to $0.37, compared to $0.75 for the comparable period in 2025.

Conference Call

The Company will hold its fourth quarter 2025 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.

First Quarter 2026 Reporting Date

The Company plans to report first quarter 2026 financial results on Thursday, April 30, 2026 at approximately 4:05 p.m. ET.

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, drive long-term market share gains and manage expenses, financial position, marketing strategies, anticipated product launches, timing and payment of dividends, 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, as well as first quarter 2026 net sales, operating margin, and diluted earnings per share. Forward-looking statements often use words such as "will," "anticipate," "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 execute and realize cost savings related to our Profit Improvement Plan; 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 customer’s 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; 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 115 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.