Amer Sports, Inc. (NYSE:AS) shares are trading higher after the company reported better-than-expected second-quarter results.
Revenue rose 16% (+18% on a constant currency basis) to $994 million, exceeding the consensus of $948.2 million. Adjusted EPS of $0.05 beat the consensus loss of $0.06.
By segment, Technical Apparel revenue rose 34% to $407 million, reflecting a 26% omni-channel growth. Outdoor Performance revenue rose 11% Y/Y to $304 million, and Ball & Racquet Sports revenue grew 1% Y/Y to $283 million.
Adjusted gross margin increased by 200 basis points Y/Y to 55.8% in the quarter. Adjusted operating profit increased 40% Y/Y to $29 million, with the margin increasing 50 basis points Y/Y to 2.9%. Cash and equivalents totaled $256 million at the end of the quarter.
CEO James Zheng ...
