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Amer Sports | 6-K: Report of foreign private issuer (related to financial reporting)

SEC ·  Aug 20, 2024 18:44

Summary by Moomoo AI

Amer Sports reported strong Q2 2024 results with revenue increasing 16% to $994 million, driven by exceptional performance in Technical Apparel and Greater China. Technical Apparel segment grew 34% to $407 million with 26% omni-comp growth, while Greater China revenue surged 54%. Gross margin improved 220 basis points to 55.5%, though operating loss was $9 million compared to $8 million profit last year.The company demonstrated solid operational execution with healthy inventory levels, up only 2% year-over-year despite 16% revenue growth. Arc'teryx continued its exceptional growth and profitability, while Salomon showed strong performance in soft goods, particularly footwear. Wilson returned to growth with a promising product pipeline for H2 2024.Based on the strong performance, Amer Sports raised its full-year 2024 guidance, now expecting 15-17% revenue growth and operating margin toward the high end of 10.5-11.0%. The company projects adjusted EPS of $0.40-$0.44 for the full year, with Technical Apparel segment expected to achieve over 30% revenue growth and operating margin slightly above 20%.
Amer Sports reported strong Q2 2024 results with revenue increasing 16% to $994 million, driven by exceptional performance in Technical Apparel and Greater China. Technical Apparel segment grew 34% to $407 million with 26% omni-comp growth, while Greater China revenue surged 54%. Gross margin improved 220 basis points to 55.5%, though operating loss was $9 million compared to $8 million profit last year.The company demonstrated solid operational execution with healthy inventory levels, up only 2% year-over-year despite 16% revenue growth. Arc'teryx continued its exceptional growth and profitability, while Salomon showed strong performance in soft goods, particularly footwear. Wilson returned to growth with a promising product pipeline for H2 2024.Based on the strong performance, Amer Sports raised its full-year 2024 guidance, now expecting 15-17% revenue growth and operating margin toward the high end of 10.5-11.0%. The company projects adjusted EPS of $0.40-$0.44 for the full year, with Technical Apparel segment expected to achieve over 30% revenue growth and operating margin slightly above 20%.
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