Hermès Shares Plunge 10% During Session, Lowest Since Early 2023
On this Wednesday, Hermès International experienced a sharp drop during the trading session, with its shares falling more than 10% following the release of its first-quarter 2026 revenue figures. The price fell below the 1,600 euros mark in the morning, a level not seen since early 2023. The CAC 40, also down by 0.63% during the session, was similarly dragged lower.
Today's earnings release is behind the drop. Hermès International reported a consolidated revenue of 4.1 billion euros for the first quarter, driven by an organic growth of 6% at constant exchange rates. However, unfavorable exchange rate effects reduced revenues by 290 million euros, largely erasing the business momentum. The geographical breakdown shows contrast, with some areas displaying strong vitality while others have significantly receded.
This discrepancy between actual growth and the performance reported in euros has clearly weighed heavily on the stock, which is trading at 1,604 euros, down 10.04% from the previous close of 1,783 euros. During the session, the price even slipped to 1,595 euros, a new low since the beginning of 2023, a time when the rapid rise in interest rates was impacting the entire luxury sector. The annual general meeting of shareholders, scheduled for April 17, will occur in a particularly tense market context for the group.
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From a technical standpoint, today's session accentuates the deterioration of the technical setup. The price is now significantly below its 50-day moving average, which stands at 1,898.31 euros, and remains far from the 200-day average (2,091.05 euros), indicating a long-term bearish trend established over several months. The performance over three months is -28.39%, and the decline reaches -31.46% over one year.
The Bollinger Bands confirm the selling pressure: the price, at 1,604 euros, is positioned at the lower end of the band (lower boundary at 1,545.40 euros), indicating potential oversold territory. The nearest support threshold is at 1,609 euros, a level almost tested this morning. The major resistance is established at 1,967 euros, more than 22% above the current price. Among comparable European stocks trading during the session, LVMH is down 0.98% and L'Oréal has fallen by 0.50%, declines that are modest compared to Hermès's sharp drop.
Le modèle Hermès, fondé sur une distribution exclusive et qualitative, a une nouvelle fois porté ses fruits. Hermès aborde l’année 2026 avec confiance.
Résultats annuels 2025 solides: chiffre d’affaires de 16 002 millions d’euros, croissance à taux constants de 8,9 % et croissance à taux courants de 5,5 %. Résultat opérationnel courant de 6 569 millions d’euros (41,0 % du chiffre d’affaires) et résultat net de 4 524 millions d’euros. Cash flow disponible ajusté de 3 880 millions d’euros; trésorerie nette retraitée à 12 773 millions d’euros. Propositions de dividendes et actions nouvelles pour 2026, avec un accent sur le développement et l’emploi.
Outlook / guidance
Expected revenue: Le chiffre d’affaires 2026 est attendu en progression à taux constants sans chiffre précis communiqué.
Expected EBITDA: Non précisé dans le communiqué.
Expected net income: Non précisé dans le communiqué.
Management commentary: Perspectives positives pour 2026, grâce au modèle d’entreprise intégré et à la fidélité de la clientèle, malgré un contexte économique et géopolitique incertain.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
