Overview
- Amer Sports said Tuesday that first-quarter revenue rose about 32% to $1.95 billion and adjusted diluted EPS was $0.38, beating Wall Street estimates and driving a positive stock reaction.
- Management raised full-year 2026 guidance to 20–22% revenue growth and GAAP EPS of $1.18–$1.23, and gave Q2 revenue and EPS targets that signal continued momentum.
- Company leaders credited growth to three engines — Arc’teryx, Salomon softgoods and Wilson Tennis 360 — with double-digit gains across regions and channels and direct-to-consumer sales up roughly 45% to about $1.0 billion.
- Margins expanded materially in Q1, with adjusted gross margin up about 200 basis points to roughly 60% and adjusted operating margin up about 160 basis points to 17.4%, while inventories rose about 33% to $1.688 billion and net cash was $539 million.
- Guidance assumes the higher pre-ruling IEEPA tariff rates remain in place for planning, and management said it will keep investing in store openings, distribution and marketing in Asia and North America, a move that could drive further share gains but raise inventory and trade-policy exposure.