Amer Sports Reports Strong Q2 Results and Raises Full-Year Guidance
On August 18, Amer Sports (NYSE:AS) reported second-quarter results exceeding expectations with a revenue increase of 32% to $1.63 billion and nearly tripled adjusted operating profit. Every business segment showed double-digit growth, driven by strong performance from brands like Arc'teryx, Salomon Softgoods, and Wilson Tennis 360. The company raised its full-year guidance for revenue growth to around 24%, with improved gross and operating margins. Despite the positive results, some of the gains were attributed to one-time benefits such as net tariff refunds, which significantly boosted margin figures in certain segments like Ball & Racquet Sports. Additionally, selling, general, and administrative expenses rose faster than revenue growth, while inventory levels increased by 19%. The company also guided for a slower third-quarter performance with lower expected revenue growth and gross margins. Market reactions have been cautious; hedge fund ownership has decreased slightly, short interest is notable at 7.57% of the float, and the stock trades at a forward P/E ratio of 14.71 despite strong guidance for continued second-half growth.
Topics: financial_performance guidance_update revenue_growth