EssilorLuxottica Sets out Warier Midterm Targets as Smartglasses Impact Proves Mixed

By Joshua Kirby

EssilorLuxottica set out new guidance for midterm growth as it ended 2025 with a boost to revenue, but a drag on profitability, from its AI-glasses tie-up with tech giant Meta.

The Franco-Italian eyewear company said it aims over the next five years to book "solid growth" in its revenue at constant exchange rates, and broadly aligned growth in its adjusted operating profit. That marks a less specific guidance than prior targets; the group had previously guided for mid-single-digit revenue growth through the end of this year, along with an adjusted operating margin of 19%-20% by the end of that period.

Last year, the maker of Ray-Bans and other branded sunglass and eyecare-kit made adjusted operating profit of 4.46 billion euros ($5.31 billion,) up just 1% from a year earlier, the group said in an earnings update Wednesday. Revenue grew 7.5% over the same period to 28.49 billion euros, driven in part by sales of more than 7 million pairs of its AI-glasses models, which include Ray-Bans and Oakleys in partnership with Facebook-owner Meta.

While smartglasses boosted the group's top line, their greater share of total sales weighed on profitability, EssilorLuxottica said.

"At the operating profit level, the Group's performance was impacted by the combined headwind of the U.S. tariffs and the AI-glasses, more materially in the second half of the year compared with the first," it said.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

February 11, 2026 12:50 ET (17:50 GMT)