Summary by Moomoo AI
Amer Sports reported strong Q3 2024 performance with revenue increasing 17.4% to $1.35B, driven by Technical Apparel segment growth and DTC channel expansion. Net income reached $55.8M compared to a loss of $37.7M in Q3 2023. Adjusted EBITDA margin improved to 18.9% from 15.3% year-over-year.Technical Apparel revenue grew 33.8% to $520M, with DTC sales up 40.2%. Outdoor Performance revenue increased 7.9% to $533.6M, while Ball & Racquet Sports revenue rose 11.3% to $300.2M. Geographic growth was led by Greater China and Asia Pacific, up 56.1% and 47.2% respectively.The company strengthened its financial position by refinancing debt through a $800M senior secured notes offering and new credit facilities. Capital expenditure guidance for 2024 is approximately $310M, focused on retail expansion, SAP system upgrades, and warehouse facilities development.
