What guidance did Amer Sports's management provide for the next earnings period?

What is Amer Sports's gross profit margin?

What is the revenue and EPS growth rate for Amer Sports year over year?

Did Amer Sports beat or miss consensus estimates last quarter?

What were the key takeaways from Amer Sports's earnings call?

What factors drove the changes in Amer Sports's revenue and profit?

What is the market's earnings forecast for Amer Sports next quarter?

What is Amer Sports's latest dividend and current dividend yield?

- **Revenue Surge**: 30% YoY growth driven by Arc'teryx DTC (27% YoY), Salomon footwear (35%), and Wilson soft goods doubling.
- **Margin Expansion**: 130bps operating margin improvement to 15.7%, supported by 240bps gross margin expansion.
- **China Recovery**: Post-fireworks sales rebounded, with Q4 China growth tracking pre-incident trends.
- **2026 Outlook**: Mid-teens revenue growth, 30-70bps margin expansion,2026, guidance, and 7-10 new U.S. Salomon stores planned.
- **Tariff Resilience**: Minimal P&L impact expected, with strong cash flow generation ($104M first 9 months).

**【CEO Summary Section】**
- **Revenue Growth**: Q3 revenue grew 30% YoY, driven by strong performance in Arc'teryx, Salomon footwear, and winter sports equipment. North America and Asia-Pacific regions led the acceleration.
- **Margin Expansion**: Adjusted operating margin expanded 130 basis points to 15.7%, supported by gross margin improvements and cost control.
- **Brand Momentum**: Arc'teryx DTC sales reaccelerated to 27% YoY, Salomon footwear grew 35%, and Wilson soft goods doubled YoY.
- **China Recovery**: Despite initial softness post-fireworks incident, China sales rebounded in Q4, with strong demand in colder weather.
- **2026 Outlook**: Guidance for mid-teens revenue growth, with technical apparel and outdoor performance segments leading the way.

**【CFO Financial Commentary】**
- **Q3 Financials**: GAAP net income $185M, adjusted EPS $0.33, up 140% YoY. Gross margin expanded 240bps to 57.9%, driven by DTC channel strength.
- **Full Year Guidance Update**: Raised 2025 revenue growth to 21-24%, adjusted operating margin to 12.2-12.7%, and EPS to $0.88-0.92.
- **2026 Outlook**: Targeting low double-digit to mid-teens revenue growth, with margin expansion of 30-70bps.
- **Balance Sheet**: $800M net debt, 0.7x net debt/EBITDA, strong cash flow generation ($104M first 9 months).

**【Q&A Highlights】**
- **U.S. Expansion**: Planning 7-10 new Salomon stores in 2026, with successful openings in NYC, LA, and Miami.
- **China Strategy**: 80 Wilson Tennis 360 stores by end-2025, focusing on Southern and coastal locations.
- **Tariff Impact**: Minimal P&L impact expected, with pricing power and diversified supply chain mitigating risks.
- **DTC Focus**: 25 Arc'teryx stores to open in 2025, 12 in North America, with flagship NYC store performing strongly.
- **Salomon Footwear**: 36% Q3 growth, 28% of outdoor performance segment, targeting 13% of Arc'teryx sales by 2030.

Amer Sports, Inc.(AS)-20251118-2025 Q3 Earnings call transcript

- **Revenue Growth Accelerates**: 23% Q2 sales (22% ex-currency), driven by Salomon (35% growth) and Arc'teryx DTC (31% expansion).
- **Margin Expansion**: Operating margin +260 bps to 5.5%, with Outdoor Performance margin jumping 720 bps to 5.1%.
- **Salomon U.S. Playbook**: 3-4 NYC-area stores planned, replicating China's 300+ profitable compact shops.
- **Tariff Resilience**: <1% EBITDA impact expected, with premium pricing power offsetting 30% U.S. tariffs.
- **Wilson Transition**: Andrew Page leads interim turnaround, with Tennis 360 soft goods doubling in Q2.

**【CEO Summary Section】**
- Amer Sports reported 23% revenue growth (22% ex-currency) in Q2, driven by strong performance in Outdoor Performance (Salomon) and Technical Apparel (Arc'teryx). Adjusted operating margin expanded 260 bps to 5.5%.
- Salomon footwear is experiencing global acceleration, with 35% segment revenue growth and 63% DTC expansion. Arc'teryx opened 7 new stores globally, including high-profile locations in NYC and Beijing.
- Wilson brand transition: Andrew Page appointed Interim CEO, with search underway for permanent leader. Wilson soft goods grew over 100% in Q2, led by Tennis 360 demand.

**【CFO Financial Commentary】**
- Q2 adjusted EBITDA of $36M vs. $25M last year, with EPS of $0.06 (up 20%). Full-year guidance raised to 20-21% revenue growth (prev. 15-17%) and EPS of $0.77-0.82 (prev. $0.67-0.72).
- Outdoor Performance margin expanded 720 bps to 5.1%, driven by footwear cost optimization. Technical Apparel margin held steady at 13.9% despite store expansion costs.
- Inventory up 29% YoY due to tariff mitigation and slower airfreight usage, but expected to normalize in 2026. Operating cash flow of $108M in H1.

**【Q&A Highlights】**
- **Salomon Growth**: U.S. expansion plans include 3-4 NYC-area stores by year-end, leveraging successful China/DACHAR compact shop model. Global footwear sell-through rates exceed 90%.
- **Arc'teryx Women's Momentum**: 30%+ women's revenue growth in Q2, Clarkia pants sold out in 4 weeks. NYC flagship store ranks top-performing globally.
- **Tariff Mitigation**: <1% EBITDA impact expected in 2025, with pricing flexibility in premium brands offsetting 30% U.S. tariffs on China imports.
- **Winter Sports Transition**: Equipment now 28% of Outdoor Performance (down from 46% in 2022), with focus shifting to year-round footwear/apparel.

Amer Sports, Inc. (AS) Q2 2025 Earnings Call Transcript

- **Revenue Surge**: 23% Q1 growth (26% ex-currency), driven by Arc'teryx (28%), Salomon (25%), and Wilson (12%).
- **Salomon Breakthrough**: $1B+ sneaker sales, 68% DTC growth, and 15%+ FY25 guidance.
- **Arc'teryx Women's**: 38% Q1 growth, Clarkia pants out-of-stock, targeting 50-50 gender balance.
- **Tariff Resilience**: 26% U.S. revenue exposure, 100bps annualized drag neutralized via pricing and supply chain.
- **China Dominance**: 49% APAC growth, 43% China growth, 300+ Salomon shops by end-2025.
- **Profit Expansion**: 490bps operating margin improvement to 15.8%, 57% gross margin guidance.
- **EPS Upgrade**: Full-year EPS raised to $0.67-0.72 (prev $0.64-0.69), Q2 EPS $0.00-0.02.
- **Balance Sheet Strength**: $515M net debt, 0.5x net debt/EBITDA, $164M Q1 cash flow.


**【CEO Summary Section】**
- **Revenue Growth**: 23% reported growth (26% ex-currency), driven by Technical Apparel (28%), Outdoor Performance (25%), and Ball & Racquet (12%).
- **Key Brands**: Arc'teryx footwear and women's apparel outperformed, Salomon sneakers reached $1B in FY24, and Wilson Tennis 360 soft goods doubled Q1 sales.
- **Strategic Initiatives**: 25 new Arc'teryx stores globally, 22 Salomon shops in China, and Veilance's Paris fashion week debut.
- **Tariff Resilience**: 26% of revenue exposed to U.S., with premium pricing power and mitigation strategies in place.

**【CFO Financial Commentary】**
- **Profitability**: Adjusted operating margin expanded 490bps to 15.8%, driven by 330bps gross margin improvement and 160bps SG&A leverage.
- **Tariff Impact**: FY25 guidance assumes 30% China tariffs, with negligible P&L impact after mitigation. Long-term, 100bps annualized drag neutralized via pricing and supply chain.
- **Guidance Update**: Full-year revenue raised to 15-17% growth, EPS to $0.67-0.72. Q2 EPS expected $0.00-0.02 due to seasonal factors.
- **Balance Sheet**: $515M net debt, 0.5x net debt/EBITDA, $164M Q1 cash flow.

**【Q&A Highlights】**
- **Salomon Momentum**: 68% DTC growth in Outdoor Performance, 15%+ FY25 guidance, and $1B+ sneaker market opportunity.
- **Arc'teryx Women's**: 38% Q1 growth, Clarkia pants out-of-stock, and 50-50 gender balance target.
- **Ball & Racquet**: 12% growth driven by Tennis 360, 50+ new stores in China, and mid-single-digit long-term growth.
- **Tariff Mitigation**: 80% China/U.S. sourcing, 30% Vietnam, and 3% Europe. Pricing, vendor renegotiations, and DTC expansion offset costs.

**【Operational Wins】**
- **Arc'teryx Academy**: 6M media impressions, LA-area sales lift, and ReBIRD engagement.
- **Salomon XT-Whisper**: Global launch success with KITH and Sandy Liang collaborations.
- **Wilson Golf**: Dynapower launch success, 12% Q1 growth.
- **China Expansion**: 300+ Salomon shops in China by end-2025, Arc'teryx premium store conversions.


Amer Sports (AS)-20 May 25-2025 Q1 Earnings call transcript

- **Record Growth**: FY24 revenue up 18% to $5.2B, Q4 sales +23% YoY, fueled by Arc'teryx (33% growth) and Salomon sneakers ($1B+ in FY24).
- **Store Expansion**: Arc'teryx to open 25-30 stores in FY25, targeting 150-200 in China. Footwear sales up 60% YoY, women's segment outperforms.
- **Profitability**: FY24 margin expansion to 11.1%, FY25 guidance for 11.5-12% operating margin, supported by $425M free cash flow.
- **China Dominance**: 54% FY24 growth in Greater China, driven by premium outdoor demand and scalable operating platform.
- **Risk Mitigation**: 20%+ Technical Apparel growth offsets Winter Sports Equipment flatness; FX hedging and tariff strategies in place.

**【CEO Summary Section】**
- Amer Sports achieved 18% revenue growth to $5.2 billion in FY24, driven by Technical Apparel (Arc'teryx) and Outdoor Performance (Salomon) segments. Q4 sales grew 23% YoY, with 29% omni-channel comp at Arc'teryx.
- Arc'teryx opened 33 new stores in FY24, targeting 25-30 net openings in FY25. Women's and footwear categories outperformed, with footwear sales up 60% YoY.
- Salomon sneakers surpassed $1 billion in FY24, with double-digit growth in EMEA and APAC. Wilson returned to #1 U.S. racquet market share, with Tennis 360 apparel doubling in sales.
- Long-term growth drivers include Arc'teryx's direct-to-consumer model, Salomon's technical footwear, and Wilson's soft goods expansion.

**【CFO Financial Commentary】**
- FY24 adjusted operating margin expanded 130bps to 11.1%, driven by Technical Apparel (24.3% margin) and Outdoor Performance (11.1% margin). Q4 gross margin reached 56.4%, up 370bps YoY.
- FY25 guidance: 13-15% revenue growth (250bps FX drag), 56.5-57% gross margin, and 11.5-12% operating margin. Free cash flow of $425 million in FY24 supports debt reduction to $600 million net debt.
- Ball &amp; Racquet segment rebounded with 22% Q4 growth, but expects low-single-digit long-term growth.

**【Q&A Highlights】**
- **Arc'teryx Store Expansion**: 25-30 net openings in FY25, targeting 150-200 stores in China. Footwear distribution in U.S. wholesale channels is a key growth lever.
- **Financial Resilience**: 20%+ growth in Technical Apparel offset Winter Sports Equipment flatness. FX hedging and tariff mitigation strategies are in place.
- **Margin Outlook**: FY25 margin focus on low end due to macro uncertainties, but long-term expansion driven by Arc'teryx scale.

**【Regional Momentum】**
- Greater China: 54% FY24 growth, with Arc'teryx and Salomon DTC channels leading. EMEA: 8% Q4 growth, driven by Salomon soft goods recovery. North America: 15% Q4 growth, Wilson inventory normalization complete.


AS

AS fundamentals

Earnings Call

You can ask Aime