BIRK · PEAD → 0

Birkenstock reported Q3 FY2026 EPS of €0.86 on 2026-08-13, missing the €0.87 consensus by €0.01 (–1.1%); prior-year comparable EPS was not available in the data feed.

Print-day reaction was a sharp +11.6% versus the prior close, as the market looked through the narrow EPS miss and bid the stock decisively higher on the open. The overnight gap from T+0 close to T+1 open reversed course, giving back –3.0% and signalling sellers stepping in after-hours. Over the following two trading sessions the drift extended the fade, declining a further –5.4% and erasing most of the print-day gain. Cumulative abnormal return of +2.0% versus SPY.US falls inside the ±3% threshold, yielding a PEAD verdict of none with zero conviction; no drift signal is carried through the 2026-11-10 holding window end.