Amer Sports Stock Drops 4.4% After Q4 Beats But Issues Low 2026 EPS Guidance
Amer Sports delivered Q4 adjusted EPS of $0.31, topping consensus by $0.03, and Q4 revenue rose 28% to $2.101 billion, led by 42% growth in Greater China. Management forecast fiscal 2026 EPS of $1.10–$1.15 below estimates and Q1 earnings of $0.28–$0.30 shy of consensus.
1. Q4 Financial Results
The company reported fourth-quarter adjusted earnings per share of $0.31, beating the consensus estimate of $0.28. Fourth-quarter revenue reached $2.101 billion, up 28% year-on-year with all four regions delivering double-digit growth, led by a 42% increase in Greater China.
2. Margin Performance and Balance Sheet
Adjusted gross margin expanded by 140 basis points to 57.8%, while adjusted operating profit rose 18% year-on-year to $263 million despite a 110-basis-point margin contraction to 12.5%. Cash and cash equivalents stood at $652 million at year-end, and net debt was $291 million.
3. Outlook and Guidance
For fiscal 2026, management expects EPS of $1.10–$1.15 versus the $1.15 consensus and full-year sales of $7.617–$7.748 billion above the $7.492 billion Street view. First-quarter guidance calls for EPS of $0.28–$0.30 below the $0.32 estimate and revenue of $1.797–$1.827 billion, ahead of the $1.755 billion forecast.
4. Leadership Change at Wilson
Effective March 1, Carrie Ask will assume the roles of president and CEO of Wilson Sporting Goods, joining the executive committee, while interim leader Andrew Page will refocus on his duties as group CFO.