Amer Sports Inc. (NYSE:AS) on Tuesday reported better-than-expected second-quarter results and raised its full-year outlook.
Amer Sports reported adjusted earnings of 22 cents per share, beating the 11-cent consensus estimate. Revenue rose 32% year over year to $1.633 billion, beating the $1.543 billion estimate.
For the third quarter, Amer Sports expects earnings of 31 cents to 33 cents per share, missing the 39-cent consensus estimate at the midpoint. The company expects revenue of $2.072 billion to $2.107 billion, beating the $2.065 billion consensus estimate at the midpoint.
Amer Sports raised its full-year 2026 GAAP earnings outlook to $1.27 to $1.30 per share from $1.18 to $1.23. The new range is above the $1.20 analyst estimate. The company also raised its revenue outlook to about $8.142 billion from $7.879 billion to $8.011 billion, beating the $8.023 billion estimate.
CEO James Zheng said, “Our global momentum continued through the second quarter with over 30% revenue growth and strong operating margin expansion. All segments, geographies, and channels achieved strong double-digit growth led by another exceptional quarter from Salomon Softgoods, a strong Arc’teryx omni-comp, and a Wilson Tennis 360 acceleration.”
Amer Sports shares rose 0.6% to trade at $33.83 on Wednesday.
These analysts made changes to their price targets on Amer Sports following earnings announcement.
- Barclays analyst Adrienne Yih maintained the stock with an Overweight rating and raised the price target from $49 to $50.
- Truist Securities analyst Joseph Civello maintained the stock with a Buy and lowered the price target from $50 to $42.
Considering buying AS stock? Here’s what analysts think:
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