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Amer Sports, Inc. (AS)
NYSE:AS
Earnings Data
Report Date
May 26, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.3Last Year’s EPS
0.27Same Quarter Last Year
Strong Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a strongly positive operating performance with robust revenue growth, brand momentum (notably Arc’teryx and Salomon), improved gross margins, strong cash generation, and a clean balance sheet. Management is intentionally accelerating SG&A and retail investments—primarily at Salomon and Wilson softgoods—which caused near-term margin pressure and higher corporate costs in Q4 and will mute some margin expansion in 2026. Given the scale of top-line gains, improved margins for the year, and strategic nature of the reinvestments, the positives materially outweigh the short-term margin and cost headwinds.Company Guidance
Record Revenue and Strong Top-Line Growth
Full-year 2025 revenue of $6.6B, up 27% year-over-year; Q4 sales up 28% (26% in constant currency). Management reports double-digit growth across all segments, regions, and channels.
Margin Expansion and Earnings Improvement (Full Year)
Adjusted operating margin expanded from 11.1% in 2024 to 12.8% in 2025 (170 basis points). Full-year gross margin drivers and favorable mix contributed to margin improvement at the group level.
Quarterly Profitability and EPS Upside
Q4 adjusted gross margin increased 140 basis points to 57.8%. Q4 adjusted net income was $176M and adjusted diluted EPS was $0.31 versus $0.17 prior-year quarter.
Arc’teryx: Breakout Brand Performance
Technical apparel (led by Arc’teryx) revenue up 34% in Q4 to $1.0B; 16% omni-comparable comp; footwear grew nearly 40%; Women’s category grew 40% in Q4. Arc’teryx opened 15 net new stores in Q4 and plans 25–30 net new stores in 2026.
Salomon Surpasses $2B and Accelerates
Salomon grew 35% in 2025 to over $2.0B in sales. Outdoor performance D2C grew 55% in Q4; Salomon expanded retail footprint (286 stores in Greater China year-end) and saw brand awareness increase ~15 points globally since 2023.
Wilson and Ball & Racket Momentum
Ball & racket sales rose 14% to $337M; Wilson softgoods delivered very strong double-digit growth and now represent ~15% of the segment. Wilson Tennis 360 footprint expanded (77 owned/partner shops end of Q4).
Outstanding Cash Flow and Strong Balance Sheet
Operating cash flow of $730M in 2025 versus $425M in 2024. Net debt ended at $291M with net leverage of 0.3x. Management redeemed $80M of high-coupon notes post-year-end.
2026 Guidance and Growth Outlook
Full-year 2026 guidance: reported group revenue growth 16–18% (assumes ~200 bps FX benefit), group adjusted gross margin ~59%, adjusted operating margin 13.1–13.3%, adjusted diluted EPS $1.10–$1.15. Q1 2026 guidance: revenue +22–24%, adjusted gross margin ~59%, adjusted operating margin 14–14.5%.
Regional Strength and Market Reach
All four regions delivered double-digit growth in Q4: Asia Pacific +53%, Greater China +42%, EMEA +21%, Americas +18%. Management highlights strong Chinese New Year trends and sustained momentum across epicenter cities globally.
Brand and Marketing Wins
Strong Olympic presence and marketing impact: outfitted 27,000 Olympic staff/volunteers across brands, sponsored 200+ athletes and won 59 medals; Veilance and other sub-brands showed strong consumer and fashion interest.
AS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
AS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 24, 2026 | $40.49 | $38.24 | -5.56% |
Nov 18, 2025 | $30.76 | $33.36 | +8.45% |
Aug 19, 2025 | $37.50 | $35.74 | -4.69% |
May 20, 2025 | $31.39 | $37.37 | +19.05% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Amer Sports, Inc. (AS) report earnings?
Amer Sports, Inc. (AS) is schdueled to report earning on May 26, 2026, Before Open (Confirmed).
What is Amer Sports, Inc. (AS) earnings time?
Amer Sports, Inc. (AS) earnings time is at May 26, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AS EPS forecast?
AS EPS forecast for the fiscal quarter 2026 (Q1) is 0.3.