Amer Sports, Inc. - AS STOCK NEWS

Amer Sports, a global group of iconic sports and outdoor brands, has announced it will release its Q3 2024 financial results before market opening on Tuesday, November 19, 2024. The company will host a management webcast at 8:00 a.m. Eastern Time on the same day. The webcast will be accessible through the company's investor relations website, with a replay available approximately three hours after the call conclusion.

Amer Sports, a global group of iconic sports and outdoor brands, provided a business update following investor events in Shanghai, China on October 8, 2024. CEO James Zheng and other management team members discussed the company's long-term growth perspective for Greater China and shared an update on sales performance during Golden Week (October 1-7, 2024).

Key highlights include:

• Greater China revenue growth exceeded 60% year-over-year for the seven-day Golden Week period
• Strong performance across the portfolio, particularly in store sales at Salomon, Wilson, and Arc'teryx
• The company sees an outsized growth opportunity in China, especially in the outdoor segment
• The outdoor segment has shown resilience despite the weak economy

This update follows a recently-announced government stimulus program in China.

Amer Sports (NYSE: AS) reported strong Q2 2024 results, exceeding expectations. Revenue increased 16% to $994 million, with Technical Apparel up 34%. Gross margin improved 220 basis points to 55.5%. Despite a small operating loss, adjusted operating profit rose 40% to $29 million. The company raised its full-year 2024 guidance, projecting 15-17% revenue growth and operating margin towards the high end of 10.5-11.0%. For Q3 2024, Amer Sports expects 12-13% revenue growth and 11.0-12.0% operating margin. Key brands like Arc'teryx showed exceptional growth, while Wilson returned to growth with a strong product pipeline for H2 2024.

Amer Sports, a global group of iconic sports and outdoor brands, has announced its plans to report second quarter 2024 financial results on Tuesday, August 20, 2024, before the market opens. The company will host a webcast with management at 8:00 a.m. Eastern Time on the same day. Investors and interested parties can access the webcast through the company's website in the Investor Relations section. For those unable to attend the live event, a replay of the conference call will be available approximately three hours after its conclusion on the same webpage.

Amer Sports (NYSE: AS) reported a 13% year-over-year revenue increase for Q1 2024, reaching $1.2 billion, driven by a 44% surge in the Technical Apparel segment, largely attributed to the Arc'teryx brand. Despite strong revenue growth, net income decreased to $7 million from $19 million in Q1 2023, with diluted EPS dropping to $0.01 from $0.05. Gross margin improved by 110 basis points to 54.3%. However, SG&A expenses rose significantly, impacting operating profit, which fell to $109 million from $130 million.

Net debt was reduced to $1.7 billion from IPO proceeds. Full-year 2024 guidance includes mid-teens revenue growth, a gross margin of 54%, and an operating margin between 10.5% and 11%. For Q2 2024, expected revenue growth is approximately 10% with an operating margin of 0.0%.

Amer Sports, Inc. will report its first quarter 2024 financial results on May 21, 2024. The company, known for its iconic sports and outdoor brands, will host a webcast with management at 8:00 a.m. Eastern Time. Investors can access the webcast and replay on the company's Investor Relations website.

Crewe Capital advised PV3 Investments in acquiring ENVE Composites, a US cycling manufacturer, from Amer Sports. ENVE, known for its all-American manufacturing of high-tech biking products, will continue its operations in Utah under PV3's ownership. The acquisition reflects PV3's commitment to supporting ENVE's growth and maintaining its position in the market.