Welcome to our dedicated page for Amer Sports news (Ticker: AS), a resource for investors and traders seeking the latest updates and insights on Amer Sports stock.
Amer Sports, Inc. reports developments for a global portfolio of sports and outdoor brands that includes Arc’teryx, Salomon, Wilson, Peak Performance and Atomic. Its updates commonly cover financial results and guidance, brand performance across technical apparel, footwear and sports equipment, regional sales trends, channel activity and product categories such as tennis, winter sports and outdoor gear.
Company news also includes capital-structure actions, including ordinary share offerings and senior secured note redemptions, as well as earnings-release schedules and shareholder-meeting matters. These updates frame Amer Sports as a New York Stock Exchange-listed operator of premium sports and outdoor brands serving athletes and consumers through a global brand platform.
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.
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