Amer Sports raises full year outlook following strong Q1 growth

Finland-based sports equipment and apparel group Amer Sports has reported a 32 percent increase in revenue for the first quarter of 2026, reaching 1.95 billion dollars compared to the same period last year. On a constant currency basis, revenue grew by 26 percent.

The performance was led by its technical apparel segment and outdoor performance brands, prompting management to raise its full-year financial outlook.

Gross margin for the group expanded by 210 basis points to 59.9 percent, while the adjusted gross margin reached 60 percent. Operating profit grew 50 percent to 321 million dollars, resulting in an operating margin of 16.5 percent. Net income attributable to equity holders rose 22 percent to 165 million dollars.

Segment performance driven by technical apparel and outdoor growth

The technical apparel division, which includes the Arc'teryx brand, saw revenue increase 33 percent to 885 million dollars, or 28 percent on a constant currency basis. The segment achieved an omnichannel comparable growth, or omni-comp, of 19 percent. The adjusted operating margin for technical apparel expanded by 250 basis points to 26.4 percent.

Revenue in the outdoor performance segment grew 42 percent to 714 million dollars, representing a 33 percent increase on a constant currency basis. This growth was primarily driven by Salomon softgoods. The adjusted operating margin for this division increased by 480 basis points to 20.4 percent.

The ball and racquet sports division, led by Wilson Tennis 360, recorded a 13 percent revenue increase to 347 million dollars, which translates to 10 percent on a constant currency basis. However, the adjusted operating margin for this segment decreased by 370 basis points to 3.6 percent.

Amer Sports chief executive officer James Zheng stated that the momentum continued across all segments, geographies, and channels during the first quarter of 2026. Zheng noted that the unique portfolio of technical sports and outdoor brands is successfully gaining market share globally.

Upgraded financial outlook for the full year 2026

Following the first quarter results, Amer Sports chief financial officer Andrew Page confirmed that the group has raised its sales, margin, and earnings per share guidance for the full year. Page highlighted exceptional trends across the three largest growth drivers, namely Arc'teryx, Salomon softgoods, and Wilson Tennis 360.

For the full year ending December 31, 2026, Amer Sports now expects reported revenue growth between 20 percent and 22 percent. This projection includes an anticipated benefit of 200 to 250 basis points from favorable foreign exchange impact. The adjusted gross margin is projected to be between 59 percent and 59.5 percent, with an operating margin forecast between 13.4 percent and 13.7 percent.

For the second quarter ending June 30, 2026, the group forecasts reported revenue growth of 22 percent to 24 percent. The adjusted gross margin for the second quarter is expected to be approximately 59.5 percent, with an operating margin between 6 percent and 7 percent. All guidance figures assume that higher International Emergency Economic Powers Act tariffs remain in place.