Amer Sports (AS) Earnings Date & Reports

Key Takeaways

• Second-quarter revenue reached $1.63 billion, up 32% year over year, ahead of the roughly $1.54 billion Wall Street consensus.
• Adjusted diluted earnings per share (EPS) came in at $0.22, doubling the $0.11 consensus and rising from $0.06 a year earlier.
• All three segments grew by double digits: Technical Apparel (+32%), Outdoor Performance (+37%), and Ball & Racquet (+24%).
• Adjusted operating margin reached 12.8%, up 730 basis points (bps), including a roughly 390 bps one-time net tariff refund benefit.
• Direct-to-consumer (DTC) sales rose 40% and reached a record 55% of quarterly revenue.
• Management raised full-year 2026 guidance for revenue growth, margins, and adjusted EPS.

Earnings Context and Why It Matters

Second-quarter results matter for Amer Sports because they test whether its premium outdoor and sports brands, led by Arc’teryx, Salomon, and Wilson, can sustain high-teens-to-20%-plus growth while protecting profitability. The company’s first-quarter 2026 beat pushed management to raise full-year guidance in May, so this report shows whether that momentum carried into the June quarter across Greater China, the Americas, and EMEA (Europe, Middle East, and Africa). Investors also watch DTC mix, inventory discipline, and tariff-related items, since a meaningful portion of the quarter’s reported margin expansion came from non-recurring refunds. The print and updated outlook provide a clearer read on demand and profitability heading into the seasonally stronger second half.

Reported Results

For the three months ended June 30, 2026, Amer Sports posted revenue of $1.633 billion, a 32.1% increase from $1.236 billion in the prior-year period. Excluding currency effects, revenue grew about 30%. The result exceeded the FactSet consensus of approximately $1.54 billion. On a reported basis, net income attributable to equity holders was $107.2 million, or $0.18 per share, compared with $18.2 million, or $0.03 per share, a year earlier. Adjusted net income rose 252% to $127 million, and adjusted diluted EPS increased to $0.22 from $0.06.

Profitability improved sharply. Adjusted gross margin expanded 710 bps to 65.8%, while adjusted operating margin climbed 730 bps to 12.8%. Those figures included a one-time net tariff refund of $64.3 million at the gross-margin level, worth about 390 bps of margin and roughly $0.08 per share. Excluding that benefit, management said adjusted operating margin still expanded more than 300 bps. Reported operating profit rose to $191.7 million from $43.7 million.

Growth was broad-based. Technical Apparel revenue rose 32% to $674 million, led by Arc’teryx. Outdoor Performance grew 37% to $569 million, driven by Salomon footwear and apparel. Ball & Racquet increased 24% to $390 million, supported by Wilson Tennis 360. DTC revenue reached $897 million, up 40%, while wholesale revenue grew 24% to $736 million. By region, Asia Pacific grew 60%, Greater China 36%, the Americas 26%, and EMEA 20%. The company ended the quarter with $573 million in net cash, inventory up 19% against 32% sales growth, and first-half operating cash flow of $339 million, up from $108 million.

Amer Sports also raised its full-year 2026 outlook. It now expects revenue growth of approximately 24%, up from 20%–22%, and adjusted diluted EPS of $1.27–$1.30, up from $1.18–$1.23. Full-year adjusted gross margin guidance moved to 60.5%–61.0% and adjusted operating margin guidance to 14.2%–14.5%. For the third quarter of 2026, management guided to 18%–20% revenue growth and adjusted EPS of $0.31–$0.33.

AI Screener

Tickeron’s AI Screener is an AI-powered stock and ETF discovery tool that helps traders and investors filter the market based on technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs using customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. The screener is designed to help identify trade ideas, trending stocks, breakout candidates, and market opportunities more efficiently than manual screening. For investors tracking earnings momentum and sector leadership, it offers a structured way to surface new ideas across markets.

Market Reaction and Investor Sentiment

The initial market reaction was decisively positive. Amer Sports shares jumped about 6.6% in pre-market trading on August 18, 2026, after the company reported results above expectations and raised its full-year guidance. The move reflected investor approval of broad-based revenue growth, underlying margin expansion, and an improved profit outlook, even though part of the margin gain came from a one-time tariff refund.

Heading into the print, sentiment had been mixed. The stock had lagged the broader market for much of 2026, and investors were focused on whether premium consumer demand could hold across key regions while tariff-related benefits distorted profitability. The clean top- and bottom-line beats, combined with guidance that exceeded the prior range, helped rebuild confidence around the company’s growth narrative.

Forward Outlook and Key Factors to Monitor

Management signaled that momentum has continued into the third quarter, guiding to 18%–20% revenue growth and adjusted EPS of $0.31–$0.33. That represents a step down from the second quarter’s 32% revenue pace, partly reflecting tougher comparisons and a more normalized contribution from tariff-related items. Investors will watch whether underlying demand can offset the absence of the one-time refund benefit.

Several cost and policy factors will shape the second half. The company’s guidance assumes current Section 301 tariff rates remain in place for the rest of 2026, and management said it has already received the majority of its tariff refund submission. Higher corporate expenses and an increase in expected net finance costs to roughly $85 million are also worth monitoring, since they could pressure margins even as revenue grows.

Key operating themes include Arc’teryx store expansion, Salomon’s push into U.S. wholesale partners, and continued traction for Wilson Tennis 360. The main questions are whether direct-to-consumer mix keeps rising, whether inventory stays well below sales growth, and whether all three brands can sustain double-digit momentum into 2027. These factors will likely determine whether the upgraded full-year outlook proves conservative or leaves room for further revision.

Disclaimer

The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.

Disclaimers and Limitations