Paris, Feb 12, 2026, 12:21 CET — Regular session
- EssilorLuxottica shares were up about 3.9% in Paris in midday trade after full-year results
- The Ray-Ban maker flagged accelerating smartglasses volumes and set out a fresh five-year growth view
- A dividend of 4.00 euros a share is proposed, with the annual meeting set for April 28
EssilorLuxottica shares rose on Thursday, extending a sharp post-results move that briefly pushed the stock toward the top of its intraday range. The stock traded at 260.50 euros, up 3.9% from Wednesday’s close, after touching 276.00 euros earlier. (Google)
The reaction matters because the group’s growth engine is shifting from classic frames and lenses toward “wearables” and eye-care services, and investors have been probing what that mix means for margins. Thursday’s move also comes with the stock already priced for a lot of good news.
Earlier in the session, EssilorLuxottica was up about 5.9% around 0900 GMT, and a JPMorgan note called the 2025 performance “solid,” pointing to momentum in connected wearables and a less risky margin profile. The stock traded on roughly 33 times expected earnings over the next 12 months, compared with 23 times for Alcon and 18 times for Cooper Companies, the Reuters report said. (Boursorama)
Late on Wednesday, the Ray-Ban and Oakley owner said fourth-quarter revenue rose 18.4% at constant exchange rates to 7.60 billion euros, while full-year revenue reached 28.491 billion euros, up 11.2% at constant exchange rates. It said “AI-glasses” sales topped 7 million units in 2025 and proposed a 4.00-euro dividend, with a shareholder vote set for April 28 and an ex-date of May 5. (EssilorLuxottica)
The company’s adjusted operating margin was 16.0% at constant exchange rates, which it said was hit by U.S. tariffs and the ramp-up in smartglasses. Under IFRS, net profit fell 1.9% to 2.315 billion euros, even as revenue climbed. (EssilorLuxottica)
Chairman and CEO Francesco Milleri said the group delivered annual double-digit sales growth at constant currency, while investing heavily in its next wave of products despite an “uncertain” macro backdrop and tariff headwinds. Deputy CEO Paul du Saillant echoed that message in the earnings statement. (EssilorLuxottica)
EssilorLuxottica framed the smartglasses business — developed with Meta — as one of several new pillars, alongside hearing-aid glasses and a broader push into medtech and clinics. The company also set out a new five-year view, aiming for solid revenue growth with adjusted operating profit broadly tracking it, at constant exchange rates. (EssilorLuxottica)
The dividend proposal, including an option to take shares instead of cash, puts the April annual meeting into focus after a volatile couple of sessions. The company said the dividend would be paid from June 3 if approved. (EssilorLuxottica)
There is a catch for bulls: the company is already telling investors that tariffs and product mix are weighing on profitability, and that pressure can worsen if trade measures broaden or if demand shifts to lower-margin lines. With the stock on a premium multiple versus peers, even small stumbles can show up quickly in the price. (EssilorLuxottica)
Next up, investors will watch for first-quarter revenue on April 22 and for any sharper read-through on tariff exposure, smartglasses profitability and whether the company can keep growth high without giving back margin. (EssilorLuxottica)
