Shares of Levi Strauss & Co (LEVI) soared 12.07% in pre-market trading on Tuesday following the company's strong first-quarter earnings report and maintained full-year guidance, despite looming concerns over recent tariff announcements.

The iconic denim maker reported adjusted earnings per share of $0.38 for the quarter ended March 2, significantly beating analyst expectations of $0.28. Revenue came in at $1.53 billion, slightly below the $1.54 billion expected but up 3% year-over-year on a reported basis and 9% on an organic basis. Notably, gross margin expanded 330 basis points to 62.1%, driven by lower product costs and favorable channel and brand mix.

Despite uncertainties surrounding recent tariff announcements, Levi's maintained its fiscal 2025 guidance, projecting organic net revenue growth of 3.5% to 4.5% and adjusted earnings per share between $1.20 and $1.25. However, the company emphasized that this outlook does not reflect any impact from the newly announced tariffs. Chief Financial Officer Harmit Singh stated they anticipate "minimal impact" to second-quarter margin outlook from the tariffs, as most products for spring and early summer are already in the U.S.

CEO Michelle Gass commented on the results, saying, "While we recognize that we are operating in an uncertain environment, our global footprint, strong margin structure, and agile supply chain position us to navigate the balance of the year and beyond." The company is currently in the process of scenario planning and determining strategies to mitigate potential tariff impacts, including the possibility of "surgical" price increases if needed.