Amer Sports, Inc. (NYSE:AS) stock jumped Tuesday after delivering a strong third quarter, with earnings and sales topping Wall Street expectations, driven by double-digit growth across all regions and segments.
The company also raised its 2025 earnings and revenue outlook, highlighting powerful momentum in Salomon footwear, Arc’teryx and Wilson as it targets higher margins and sustained profitable growth.
Quarterly Metrics
The company reported third-quarter adjusted earnings per share of 33 cents, beating the analyst consensus estimate of 25 cents.
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Quarterly sales of $1.756 billion (+30% year over year) outpaced the Street view of $1.710 billion.
Amer Sports reported that all four regions experienced double-digit revenue growth in the third quarter, led by Greater China, which grew 47% with strong momentum continuing into the fourth quarter of 2025.
Segmental Analysis
“All three segments performed extremely well led by exceptional Salomon footwear growth, an Arc’teryx omni-comp reacceleration, and solid growth from Wilson Tennis 360 and our Winter Sports Equipment franchises,” said CEO James Zheng.
Technical Apparel omni-comp reaccelerated to +27%. Strength was broad-based across regions, categories and channels.
Outdoor Performance grew 36%. Growth was driven by continued excellent momentum in Salomon footwear and strong performance from Winter Sports Equipment.
Ball & Racquet Sports increased 16% to $350 million.
Margins
Gross margin increased 160 basis points to 56.8%, while adjusted gross margin increased 240 basis points to 57.9%.
Adjusted operating profit increased 41% to $275 million. Adjusted operating margin increased 130 basis points to 15.7%
Technical Apparel margins decreased 100 bps to 19.0%, Outdoor Performance margins increased 420 bps to 21.7%, and Ball & Racquet Sports margins increased 70 bps to 7.6%.
Adjusted net income attributable to equity holders of the company increased 161% to $185 million.
CFO Andrew Page said, “Salomon footwear continues to add a strong second leg of profitable growth to Arc’teryx’s already exceptional trajectory, significantly elevating the financial profile and long-term value creation potential of the Amer Sports portfolio.
Cash and cash equivalents totaled $353 million at quarter end, while net debt stood at $800 million. Year over year, inventories rose 28% to $1.71 billion.
Outlook
Amer Sports raised its 2025 GAAP earnings guidance to 88 cents to 92 cents per share, up from 77 cents to 82 cents. The outlook now sits above the 78-cent analyst estimate.
The company also lifted its 2025 sales forecast to $6.375 billion to $6.427 billion, from $6.22 billion to $6.27 billion. The new range compares with the $6.361 billion consensus.
Technical Apparel expects revenue growth of 26%–27% and a segment operating margin of about 21%.
Outdoor Performance expects revenue growth of 28%–29% with a segment operating margin of 13%–13.5%.
Ball & Racquet expects revenue growth of 10%–11% and a segment operating margin of 3%–4%.
Price Action: AS shares were trading higher by 10.21% to $33.90 premarket at last check Tuesday.
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