Amer Sports announced robust financial results for the third quarter of 2024, with revenue increasing 17% on both a reported and constant currency basis to $1.354 billion, surpassing the consensus estimate of $1.301 billion. Adjusted earnings per share reached $0.14, exceeding the analyst consensus of $0.10.
Segment-wise, Technical Apparel revenue grew 34% to $520 million, driven by 20% omni-comp growth, while Outdoor Performance revenue rose 8% to $534 million. The Ball & Racquet Sports segment also saw an 11% increase in revenue, reaching $300 million, indicating broad-based strength across the portfolio.
Based on this performance, Amer Sports raised its full-year 2024 guidance, now expecting revenue growth of 16-17% and an adjusted operating margin of 10.5-11.0%. The company also provided an initial 2025 outlook, projecting results consistent with its long-term financial algorithm of low-double-digit to mid-teens annual revenue growth and 30-70+ basis points of annual adjusted operating margin expansion.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.