Amer Sports raises 2024 EPS view to 43c-45c from 40c-44c, consensus 44c

Narrows 2024 revenue growth view to 16%-17% from 15%-17% from 2023 revenue $4.39B. Consensus for 2024 revenue is $5.08B. CFO Andrew Page said, “Another quarter of high-teens organic growth accompanied by healthy gross- and operating-margin expansion reflects the combination of great brands and strong execution by our teams around the world. Very strong growth from our highest-margin Arc’teryx franchise combined with improving trends in both Ball & Racquet and Winter Sports Equipment give us the confidence to raise our full-year sales and earnings guidance. As we begin to look beyond this year, we are also confident in our initial 2025 outlook and expect to deliver results consistent with our long-term financial algorithm of low-double-digit to mid-teens annual revenue growth and 30-70+ bps of annual adjusted operating margin expansion driven by gross margin expansion.”