Amer Sports Lifts Q3 Revenue Growth Target to 20-22%
AS is trading near its 52-week low of $26.54 (2.7% above the low).
Summary
Amer Sports raised its Q3 revenue growth forecast to 20-22%, up from 18-20%, and now expects adjusted operating margin slightly above the high end of its prior 13.5-14% range. CEO James Zheng cited strength across all three segments—Arc'teryx, Salomon, and Wilson—despite a challenging marketplace. The company also raised its long-term financial algorithms. This follows the company's full-year EPS guidance of $1.27-$1.30 issued in August, giving traders a clearer picture of near-term momentum. The stock trades near its 52-week low, so this upward revision could prompt a reassessment of the bearish thesis. Watch for the actual Q3 results to confirm whether the raised targets are met.
At the time of this announcement, AS was trading at $27.25 on NYSE in the Trade & Services sector, with a market capitalization of approximately $15.8B. The 52-week trading range was $26.54 to $42.76. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.