For the second quarter, Amer Sports revenue increased 16 percent to 994 million dollars or increased 18 percent on a constant currency basis.

Net loss decreased 98 percent to 4 million dollars or negative 1 cent diluted loss per share and adjusted net income increased 129 percent to 25 million dollars or 5 cents diluted earnings per share.

"Our unique portfolio of premium technical brands is taking share in sports and outdoor markets all around the world. Led by our flagship Arc'teryx brand, we well exceeded our own high expectations on all key financial metrics, positioning us to deliver another strong year in 2024," said Amer Sports CEO James Zheng in a statement.

Amer Sports records growth across segments

The company’s technical apparel increased 34 percent to 407 million dollars or increased 38 percent on a constant currency basis reflecting an omni-comp growth of 26 percent.

Outdoor performance increased 11 percent to 304 million dollars or increased 13 percent on a constant currency basis. Ball & racquet sports increased 1 percent to 283 million dollars or increased 2 percent on a constant currency basis.

Gross margin for the quarter increased 220 basis points to 55.5 percent, while adjusted gross margin increased 200 basis points to 55.8 percent. Operating loss was 9 million dollars, while adjusted operating profit increased 40 percent to 29 million dollars.

Amer Sports updates full year guidance

For the full year, the company forecasts reported revenue growth in the range of 15 to 17 percent, gross margin to be approximately 54.5 percent, operating margin toward high-end of 10.5 to 11 percent and fully diluted EPS between 40 cents and 44 cents.

Technical apparel segment is expected to achieve over 30 percent revenue growth with segment operating margin slightly above 20 percent, outdoor performance segment is anticipated to grow mid-to-high-single-digit and ball & racquet segment is expected to achieve low-to-mid single-digit revenue growth and low-to-mid single-digit segment operating margin.

For the third quarter, Amer Sports projects reported revenue growth in the range of 12 to 13 percent, gross margin of approximately 54 percent, operating margin between 11 to 12 percent and fully diluted EPS in the range of 8 to 10 cents.