Jun 2026 (Q2 FY26) — Aug 18, 2026
Amer Sports Q2 FY26 — Strong Revenue Growth and Margin Expansion, Guidance Raised
Read the full callAmer Sports (AS) earnings
- Jun 2026 (Q2 FY26)
- Dec 2025
Amer Sports earnings: last reported Tue, 18 Aug 2026, for the quarter ended Jun 2026.
Guidance
What management said, and what became of it
22 of 29 judged targets kept · 68 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted diluted EPS | $0.08 to $0.10 per share | Mar 2026 | Adjusted diluted earnings per share was $0.22 compared to adjusted diluted earnings per share of $0.06 last year. | Achieved |
| Net finance cost | approximately $15 million | Mar 2026 | Adjusted net finance cost in the quarter was $21 million, above the $15 million guidance primarily due to higher cost of hedging and currency losses. | Missed |
| Adjusted diluted EPS | $1.18 to $1.23 | Mar 2026 | We now expect adjusted diluted EPS of $1.27 to $1.30 versus our prior guidance of $1.18 to $1.23, which is based on approximately 585 million fully diluted shares. | Revised Up |
7 of Amer Sports, Inc.'s 97 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 94 more targets are in the full ledger.
Claimed
- Total revenue grew 32% on a reported basis, with all segments, geographies, and channels achieving strong double-digit growth.
- Adjusted gross margin increased 710 basis points to 65.8% in Q2, including a 390 basis point benefit from a net tariff refund.
- Adjusted operating margin expanded 730 basis points to 12.8% in Q2, or 340 basis points excluding the tariff refund.
- Adjusted diluted EPS was $0.22, up from $0.06 last year, benefiting $0.08 from tariff refunds.
- Generated $339 million of operating cash flow in H1 2026, significantly up from $108 million last year.
Qualified
- Net finance cost in Q2 was $21 million, above the $15 million guidance, primarily due to higher cost of hedging and currency losses.
- Corporate expenses increased to $68 million in Q2 from $45 million last year, due to higher IT personnel and deferred compensation expense.
- Ball & Racquet segment experienced SG&A deleverage due to intentional investments in Wilson Tennis 360.
Price
$29.94 +3.89% · +$1.12
Performance −3.2% 1Y
1Y: $30.92 on 14 Oct 2025 → $29.94. High $41.96 (20 Feb 2026), low $26.27 (17 Sept 2026).
- Previous close
- $28.82
- 52-week range
- $26.27 – $41.96
- One year
- −6.55%
Overview
- Symbol
- AS
- Sector
- Consumer Discretionary
- Industry
- Apparel & Other Finishd Prods of Fabrics & Similar Matl
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
22 of 29 judged targets kept · 68 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted diluted EPS | $0.08 to $0.10 per share | Mar 2026 | Adjusted diluted earnings per share was $0.22 compared to adjusted diluted earnings per share of $0.06 last year. | Achieved |
| Net finance cost | approximately $15 million | Mar 2026 | Adjusted net finance cost in the quarter was $21 million, above the $15 million guidance primarily due to higher cost of hedging and currency losses. | Missed |
| Adjusted diluted EPS | $1.18 to $1.23 | Mar 2026 | We now expect adjusted diluted EPS of $1.27 to $1.30 versus our prior guidance of $1.18 to $1.23, which is based on approximately 585 million fully diluted shares. | Revised Up |
Claimed
- Total revenue grew 32% on a reported basis, with all segments, geographies, and channels achieving strong double-digit growth.
- Adjusted gross margin increased 710 basis points to 65.8% in Q2, including a 390 basis point benefit from a net tariff refund.
- Adjusted operating margin expanded 730 basis points to 12.8% in Q2, or 340 basis points excluding the tariff refund.
- Adjusted diluted EPS was $0.22, up from $0.06 last year, benefiting $0.08 from tariff refunds.
- Generated $339 million of operating cash flow in H1 2026, significantly up from $108 million last year.
Qualified
- Net finance cost in Q2 was $21 million, above the $15 million guidance, primarily due to higher cost of hedging and currency losses.
- Corporate expenses increased to $68 million in Q2 from $45 million last year, due to higher IT personnel and deferred compensation expense.
- Ball & Racquet segment experienced SG&A deleverage due to intentional investments in Wilson Tennis 360.
The full ledger
Open Amer Sports, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 97 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 19, 2026
Amer Sports Q1 FY26 — Strong Sales Growth and Margin Expansion Driven by Key Brands
Read the full callEvery analysed call
Amer Sports earnings calls (AS)
Financials
What the filings say
| Line item | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Total liabilities | — | 7,969 | 8,531 | 3,388 | 4,244 |
| Fixed assets | — | 362 | 442 | 550 | 698 |
| Total assets | — | 7,895 | 8,374 | 8,396 | 10,064 |
| Line item | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash from operations | 268 | -92 | 199 | 425 | 730 |
| Cash from investing | 295 | -119 | -155 | -268 | -338 |
| Cash from financing | -370 | 81 | 35 | -266 | -124 |
| Net cash flow | 194 | -129 | 79 | -110 | 268 |
| Capital expenditure | -61 | -78 | -124 | -229 | -216 |
| Free cash flow | 207 | -169 | 75 | 196 | 513 |
AS operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Stores Salomon, Greater China | 302We opened 9 net new Salomon shops in Greater China this quarter, including both owned stores and partner stores, bringing our total count at quarter end to 302 doors.Source: earnings call transcript | 315We opened 13 net new Salomon shops in Greater China this quarter, including both owned stores and partner stores, bringing our total count at quarter end to 315 doors with the potential for 400 to 500 doors over time.Source: earnings call transcript | +4.3% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
33 filings between Apr 1, 2026 and Sep 15, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$33.34M
14 sales by 5 insiders
Compensation
not trading decisions- 19
- Option exercise — converted options into shares
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Zheng Jie (James) | — | $17.21M | Jun 3, 2026 |
| Haselden Stuart | — | $8.29M | Jun 1, 2026 |
| Page Andrew E | — | $4.21M | Sep 2, 2026 |
| Chen Wen-Chang (Victor) | — | $3.59M | Sep 15, 2026 |
| Karlsson Jutta C | — | $39.2K | Apr 16, 2026 |
Latest filings (33)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 15, 2026 | Chen Wen-Chang (Victor) Chief Strategy Officer | Sale | 117,461 | $3.12M |
| Sep 15, 2026 | Chen Wen-Chang (Victor) Chief Strategy Officer | Option exercise | 402,495 | $3.09M |
| Sep 2, 2026 | Page Andrew E Chief Financial Officer | Sale | 2,022 | $57.9K |
| Sep 1, 2026 | Page Andrew E Chief Financial Officer | Option exercise | 4,514 | — |
| Jun 3, 2026 | Zheng Jie (James) Chief Executive Officer | Option exercise | 500,000 | $3.84M |
| Jun 3, 2026 | Zheng Jie (James) Chief Executive Officer | Sale | 500,000 | $17.21M |
| Jun 1, 2026 | Chen Wen-Chang (Victor) Chief Strategy Officer | Sale | 13,075 | $465.8K |
| Jun 1, 2026 | Haselden Stuart CEO of Arc'teryx Equipment | Option exercise | 200,000 | $2.50M |
| Jun 1, 2026 | Haselden Stuart CEO of Arc'teryx Equipment | Sale | 200,000 | $7.12M |
| Jun 1, 2026 | Haselden Stuart CEO of Arc'teryx Equipment | Sale | 15,275 | $541.2K |
| May 26, 2026 | Page Andrew E Chief Financial Officer | Option exercise | 97,485 | $1.38M |
| May 26, 2026 | Page Andrew E Chief Financial Officer | Sale | 97,485 | $3.58M |
| May 26, 2026 | Page Andrew E Chief Financial Officer | Sale | 7,745 | $284.9K |
| May 8, 2026 | Teffner Carrie W. Director | Option exercise | 7,265 | — |
| May 8, 2026 | Yiu Kin Wah Stephen Director | Option exercise | 7,265 | — |
| May 8, 2026 | Spear Catherine Eva Director | Option exercise | 7,265 | — |
| May 8, 2026 | Salzer Bruno Director | Option exercise | 7,265 | — |
| Apr 16, 2026 | Karlsson Jutta C General Counsel | Sale | 662 | $24.0K |
| Apr 16, 2026 | Page Andrew E Chief Financial Officer | Sale | 6,005 | $217.7K |
| Apr 16, 2026 | Haselden Stuart CEO of Arc'teryx Equipment | Sale | 11,438 | $414.7K |
| Apr 15, 2026 | Karlsson Jutta C General Counsel | Option exercise | 1,485 | — |
| Apr 15, 2026 | Haselden Stuart CEO of Arc'teryx Equipment | Option exercise | 21,265 | — |
| Apr 15, 2026 | Page Andrew E Chief Financial Officer | Option exercise | 13,750 | — |
| Apr 15, 2026 | Chen Wen-Chang (Victor) Chief Strategy Officer | Option exercise | 6,089 | — |
| Apr 15, 2026 | Zheng Jie (James) Chief Executive Officer | Option exercise | 33,350 | — |
| Apr 2, 2026 | Karlsson Jutta C General Counsel | Sale | 457 | $15.2K |
| Apr 2, 2026 | Page Andrew E Chief Financial Officer | Sale | 2,052 | $68.3K |
| Apr 2, 2026 | Haselden Stuart CEO of Arc'teryx Equipment | Sale | 6,511 | $216.7K |
| Apr 1, 2026 | Karlsson Jutta C General Counsel | Option exercise | 1,011 | — |
| Apr 1, 2026 | Haselden Stuart CEO of Arc'teryx Equipment | Option exercise | 11,946 | — |
| Apr 1, 2026 | Chen Wen-Chang (Victor) Chief Strategy Officer | Option exercise | 3,421 | — |
| Apr 1, 2026 | Zheng Jie (James) Chief Executive Officer | Option exercise | 18,734 | — |
| Apr 1, 2026 | Page Andrew E Chief Financial Officer | Option exercise | 4,635 | — |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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