Steven Madden (SHOO) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Steve Madden published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Steve Madden reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted diluted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Steve Madden acquired Kurt Geiger on May 6, 2025, so Kurt Geiger is in both the Q3 2026 and Q3 2025 figures.
• In the first quarter of 2026 Steve Madden recognized a refund receivable for IEEPA tariffs it had paid, after the Supreme Court ruled those tariffs invalid. The refund lifted Q1 2026 GAAP EPS to $1.00 and is the main reason full-year GAAP EPS guidance is above Adjusted EPS guidance.

Source: Steve Madden Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Steve Madden splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Steve Madden's Wholesale Footwear revenue was $323 million in Q3 2026, up 21% from $267 million in Q3 2025, 42% of total revenue.
• Steve Madden's Wholesale Accessories/Apparel revenue was $206 million in Q3 2026, up 17% from $176 million in Q3 2025, 27% of total revenue.
• Steve Madden's Direct-to-Consumer revenue was $239 million in Q3 2026, up 8% from $222 million in Q3 2025, 31% of total revenue.
• Steve Madden's Licensing revenue was $4.7 million in Q3 2026, up 27% from $3.7 million in Q3 2025, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Steve Madden said:

“The Company now expects fiscal 2026 revenue to increase 12% to 13% compared with fiscal 2025, versus its previous guidance range of an 11% to 13% increase.”

“The Company now expects fiscal 2026 diluted earnings per share ("EPS") to be in the range of $2.58 to $2.63, compared to its previous guidance range of $2.55 to $2.65.”

“The Company now expects Adjusted diluted EPS to be in the range of $2.15 to $2.20, up from its previous guidance range of $2.05 to $2.15.”

Source: Steve Madden Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the SHOO forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total revenue and diluted net income per share, each as first reported in that quarter's release. Steve Madden reports in thousands; revenue is rounded to $0.1 million.

We do not hold a confirmed date for Steve Madden's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

Steve Madden's revenue rose 15.7% to $772.6 million in Q3 2026, from $667.9 million. Wholesale was $528.7 million, up 19.4%, and direct-to-consumer $239.2 million, up 8.0%. Net sales were $767.9 million and licensing income $4.7 million. The CEO named the Steve Madden brand as the quarter's particular highlight. (Steve Madden Q3 2026 release, Nov 5, 2026)

Steve Madden's Wholesale Footwear segment was its largest at $322.6 million, 41.8% of total revenue, up 21.0% on strong growth in the branded business. Wholesale Accessories/Apparel, mainly handbags and apparel, brought in $206.1 million, up 17.0%. Its wholesale customers include department stores, mass merchants, off-price retailers, online retailers and specialty retailers. (Steve Madden Form 10-Q, Q3 2026, Nov 6, 2026; Steve Madden Form 10-K, 2025, Mar 2, 2026)

Steve Madden's Direct-to-Consumer segment, 31.0% of revenue, grew in both brick-and-mortar and e-commerce. At September 30, 2026 it ran 381 brick-and-mortar stores, including 92 outlets, eight e-commerce websites and 190 company-operated concessions in international markets. Direct-to-consumer gross margin was 60.7%, against an Adjusted 61.9% a year earlier, because of higher freight expense, a shift in markdown cadence and deeper discounting on seasonal product. (Steve Madden Form 10-Q, Q3 2026, Nov 6, 2026; Steve Madden Q3 2026 release, Nov 5, 2026)

Steve Madden owns no foreign factories and relies on third-party manufacturers. In 2025, 56.1% of its total purchases were manufactured in China and 24.6% in Cambodia, and the United States accounted for approximately 66.2% of global sales. Its brands include Steve Madden, Kurt Geiger London, Dolce Vita, Betsey Johnson, Carvela, Blondo and ATM, and it licenses Anne Klein for footwear and handbags. (Steve Madden Form 10-K, 2025, Mar 2, 2026; Steve Madden Q3 2026 release, Nov 5, 2026)

Steve Madden earned $0.72 per diluted share on a GAAP basis in Q3 2026, against $0.29, and $0.79 on an Adjusted basis, against $0.43. The Q3 2026 adjustments were $3.9 million pre-tax of Kurt Geiger acquisition-related costs, $0.8 million of legal settlements and fees, and a $1.0 million change in the valuation of contingent payment liabilities. The year-ago quarter excluded a $12.3 million purchase accounting adjustment to acquired inventory. (Steve Madden Q3 2026 release, Nov 5, 2026)

Steve Madden's gross margin rose to 44.6% from 41.5%, and wholesale gross margin to 36.8% from 32.7%, which it put down to strong underlying improvement and a smaller negative impact from tariffs, partly offset by higher freight. Operating expenses fell to 34.9% of revenue from 36.8%, and income from operations rose to $73.2 million from $31.4 million. (Steve Madden Q3 2026 release, Nov 5, 2026)

Steve Madden's effective tax rate was 26.2%, against 17.4% a year earlier, when it benefited from a reduction in non-deductible expenses related to the Kurt Geiger acquisition. Diluted weighted average shares were 72,577 thousand. Steve Madden did not repurchase shares in the open market in the quarter and declared a quarterly dividend of $0.21 per share. (Steve Madden Form 10-Q, Q3 2026, Nov 6, 2026; Steve Madden Q3 2026 release, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Steve Madden gives a full-year outlook in its release and raised it with Q3 2026 results. It now expects fiscal 2026 revenue to rise 12% to 13%, against 11% to 13% before, GAAP diluted EPS of $2.58 to $2.63, and Adjusted diluted EPS of $2.15 to $2.20, up from $2.05 to $2.15. (Steve Madden Q3 2026 release, Nov 5, 2026)

Steve Madden's GAAP EPS outlook is $0.43 above its Adjusted outlook, the total of the non-GAAP adjustments in its fiscal 2026 reconciliation. The largest 2026 item is the IEEPA tariff refund: Steve Madden paid CBP approximately $90.1 million of IEEPA tariffs between February 2025 and February 2026, filed its refund claim on April 20, 2026, and recognized a $55.1 million reduction in cost of sales for tariffs on inventory sold in prior periods, which it excludes from Adjusted results. (Steve Madden Q3 2026 release, Nov 5, 2026; Steve Madden Form 10-Q, Q3 2026, Nov 6, 2026)

A consensus figure is the average of the models published by the analysts who cover Steve Madden, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Steve Madden's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning SHOO is on is SHOO a buy or a sell?, what analysts expect next is on the SHOO forecast, and what the company does is on the Steven Madden (SHOO) stock page.

Every number on this page can be traced to a document Steve Madden published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.