EL7.AI
StocksMediumUpdated×2•Originally published 23 October 2026•Updated 23 October 2026•
4 min read

EssilorLuxottica upgraded to A+ as third-quarter revenue grows 9%

Key Facts

1S&P raised EssilorLuxottica’s long-term credit rating to A+ with a stable outlook on Oct. 23, 2026.
2Third-quarter revenue was 7,486 million euros, up 9.0% at current exchange rates and 7.2% at constant exchange rates.
3Revenue for the first nine months was 22,304 million euros, up 6.8% at current exchange rates and 8.9% at constant exchange rates.
4Wearable revenue grew 20% in the third quarter.

S&P Global Ratings raised EssilorLuxottica’s long-term credit rating to A+ with a stable outlook, the company said on Oct. 23, 2026. The move followed the group’s report of revenue of 7,486 million euros in the third quarter, up 9.0% at current exchange rates and 7.2% at constant exchange rates year over year. The company said the upgrade reflects the agency’s assessment of its organic growth trajectory, strong cash flow and strong balance sheet. The company also highlighted the group’s strategic shift toward vision care and medtech. The debt financing page had listed a previous S&P rating of A with a stable outlook, last confirmed on Oct. 9, 2025.

Group revenue reached 22,304 million euros in the first nine months of 2026, up 6.8% at current exchange rates and 8.9% at constant exchange rates. In the third quarter, growth was 9.0% at current rates versus 7.2% at constant rates, while the comparison was reversed over the nine-month period, with growth at constant rates exceeding growth at current rates. Results varied across the group’s businesses: direct-to-consumer revenue rose 10.6% in the third quarter, while like-for-like store sales grew 6.8%. By contrast, professional solutions revenue increased 3.4% at constant exchange rates, compared with double-digit growth for the business in the third quarter of the previous year. Chairman and Chief Executive Francesco Milleri and Deputy Chief Executive Paul du Saillant said the group delivered revenue growth of 9% during the quarter.

Growth extended across geographies, with the company saying all regions contributed to the group’s growth during the quarter. Asia-Pacific posted double-digit growth, as did direct-to-consumer business in Europe, the Middle East and Africa. Milleri and du Saillant said Asia-Pacific stood out with double-digit growth. By product, wearable revenue rose 20% in the third quarter; the category includes AI glasses and the Nuance Audio product. The vision care and medtech business also grew by more than 6% in the third quarter and the first nine months of 2026, the company said.

The myopia management solutions portfolio grew 24% in the third quarter and the first nine months of 2026. This came alongside growth in the traditional vision care and medtech business, which exceeded 6% in both periods, according to the company. In the background to the group’s financial position, net debt was 7,294 million euros excluding the impact of IFRS 16 at Dec. 31, 2025. Net debt was 10,853 million euros when the impact of the standard was included on the same date. The company says liquidity is managed centrally by the parent company and that diversified funding sources underpin its liquidity policy.

The upgrade announcement followed a move in the stock after third-quarter results: EssilorLuxottica shares rose more than 11% after the market opened in Paris on Oct. 21, Reuters reported, citing Investing.com. The rise followed the announcement of revenue results that exceeded expectations, according to the same source. That move reflected the market’s reaction to quarterly results, while the company announced the credit upgrade on Oct. 23. The ESLOY receipt closed at $99.47 on Oct. 22, according to EL7 data. The company’s calendar lists the J.P. Morgan Global Luxury and Brands Conference in Paris on Nov. 17, and the Morgan Stanley Asia Pacific Summit in Singapore on Nov. 18 and 19, 2026.

Looking further ahead, the company said it expects strong growth in total revenue over the next five years, with adjusted operating profit broadly in line, on average and at constant exchange rates. The company linked this forecast to average performance over the next five years, without providing a specific growth rate in its statement. This multi-year outlook places third-quarter results within the growth trajectory that S&P said was among the factors behind the upgrade. It also makes the comparison between current and constant exchange rates, alongside business and regional performance, part of the group’s reported results. The two investor conferences in November remain the next events listed on the company’s calendar.