Amer Sports Surpasses Expectations, Updates 2024 Outlook

Amer Sports, Inc. ( (AS) ) has released its Q3 earnings. Here is a breakdown of the information Amer Sports, Inc. presented to its investors.

Amer Sports, Inc. is a global leader in the sports and outdoor industry, known for its high-quality brands such as Arc’teryx, Salomon, and Wilson. The company focuses on delivering innovative apparel, footwear, and equipment designed for both elite athletes and everyday consumers. With operations in over 40 countries, Amer Sports aims to be the top player in the premium sports and outdoor market.

In its third quarter of 2024, Amer Sports reported impressive financial results, exceeding expectations with a 17% increase in revenue to $1,354 million. The company also raised its full-year guidance, reflecting strong growth across all brands and regions, particularly in North America, EMEA, Greater China, and the Asia Pacific.

Key financial highlights include a significant rise in the gross margin to 55.2% and an increase in operating profit by 69% to $177 million. The Ball & Racquet segment experienced a growth surge with revenues climbing 11%, while the Technical Apparel segment saw a remarkable 34% increase. Amer Sports also announced leadership changes, with Guillaume Meyzenq becoming the new CEO of Salomon, effective January 2025.

Despite increased selling, general, and administrative expenses by 20%, Amer Sports achieved a substantial improvement in net income, which rose by 257% to $56 million. The company’s focus on high-margin brands like Arc’teryx, along with improved trends in other segments, provides a solid foundation for future growth.

Looking ahead, Amer Sports is optimistic about its 2025 outlook, anticipating consistent revenue growth and operating margin expansion. The company remains committed to leveraging its strong brand portfolio and market presence to drive long-term success in the competitive sports and outdoor industry.