Amer Sports (AS) Company Report

Amer Sports reported a 27% revenue growth to $6.6 billion for the full year 2025 and 28% sales growth in Q4 2025, driven by strong performance across all segments, regions, and channels.
For full year 2025, adjusted operating margin expanded 170 basis points to 12.8%; however, Q4 2025 adjusted operating margin declined 110 basis points to 12.5% due to accelerated SG&A investments, particularly for the Salomon brand.
Salomon surpassed $2 billion in sales in 2025, growing 35%, and Arc'teryx continued its strong trajectory, with Technical Apparel revenues increasing 34% to $1 billion in Q4.
The company anticipates Q1 2026 top-line growth between 22%-24% and plans to open 25-30 net new Arc'teryx stores and approximately 35 net new Salomon stores in Greater China in 2026.

4 days ago

Transcript

Amer Sports reports strong Q4 2025 results, issues 2026 guidance, and appoints new Wilson CEO

Earnings

Guidance Update

Management Change

Amer Sports reported strong Q4 2025 sales growth of 28% on a reported basis and adjusted diluted EPS of $0.31, contributing to a 27% group growth and 12.8% adjusted operating margin for the full year 2025.
The company provided full-year 2026 guidance, projecting reported group revenue growth between 16% and 18% and adjusted diluted EPS of $1.10-$1.15.
Carrie Ask has been appointed as the next President and CEO of the Wilson brand, effective March 1st.
Strategic investments in the Salomon brand to accelerate long-term growth led to a 490 basis point contraction in Outdoor Performance adjusted operating profit margin to 6.2% in Q4 2025.
Amer Sports ended 2025 with a strong financial position, including $291 million of net debt and 0.3 times net leverage, and announced a $80 million redemption of senior secured notes in January.

4 days ago

Transcript

Amer Sports Reports Strong Q4 and Full-Year 2025 Results, Provides 2026 Guidance

Earnings

Guidance Update

New Projects/Investments

Amer Sports concluded 2025 with strong financial performance, reporting Q4 revenue growth of 28% and full-year 2025 revenue increasing 27% to $6.6 billion.
For Q4 2025, adjusted diluted earnings per share was $0.31, while the adjusted operating margin declined 110 basis points to 12.5% due to accelerated SG&A investments, particularly for Salomon.
The company provided FY 2026 guidance, expecting reported group revenue growth between 16% and 18%, an adjusted operating margin of 13.1%-13.3%, and adjusted diluted EPS of $1.10-$1.15.
Strategic investments are focused on key brands like Arc'teryx, Salomon, and Wilson Tennis 360, with Salomon's brand awareness increasing 15 points globally since 2023.

4 days ago

Transcript

Amer Sports Announces Strong Q4 and Full-Year 2025 Results

Earnings

Management Change

Guidance Update

Amer Sports reported strong Q4 2025 revenue growth of 28% to $2,101 million, contributing to a full-year 2025 revenue of $6,566.2 million and 27% growth.
Adjusted diluted earnings per share for Q4 2025 was $0.31, with the full-year 2025 adjusted diluted EPS reaching $0.97.
Segment performance in Q4 2025 included Technical Apparel growth of 34%, Outdoor Performance revenue increasing 29% to $764 million, and Ball & Racquet revenue rising 14% to $337 million.
The company announced Carrie Ask as the new Brand President and CEO for Wilson, effective March 1.

4 days ago

Presentation

Amer Sports Reports Strong Q4 and FY 2025 Results, Provides 2026 Outlook

Earnings

Guidance Update

Management Change

Amer Sports reported strong full year 2025 financial results, with revenue growing 27% to $6,566 million and adjusted diluted EPS reaching $0.97.
For the fourth quarter of 2025, revenue increased 28% to $2,101 million, and adjusted diluted EPS was $0.31.
The company provided a positive outlook for full-year 2026, expecting reported revenue growth of 16 – 18% and fully diluted EPS of $1.10 – 1.15.
Wilson, a brand under Amer Sports, announced Carrie Ask as its new Brand President and CEO, effective March 1.

4 days ago

Press Release

Amer Sports Reports Strong Q4 and FY 2025 Results, Provides Positive 2026 Outlook

Earnings

Guidance Update

Management Change

Amer Sports reported strong financial results for fiscal year 2025, with revenue increasing 27% to $6,566 million and adjusted diluted earnings per share (EPS) reaching $0.97.
In the fourth quarter of 2025, revenue grew 28% to $2,101 million, and adjusted diluted EPS was $0.31, though adjusted operating margin saw a 110 basis point decline to 12.5% due to accelerated SG&A investment.
The company provided a positive outlook for fiscal year 2026, forecasting reported revenue growth of 16 – 18% and adjusted diluted EPS in the range of $1.10 – $1.15.
The Salomon brand surpassed the $2 billion sales mark in 2025, and Carrie Ask was appointed as the new Brand President and CEO of Wilson, effective March 1.

4 days ago

6-K

Anta Sports to Become Puma's Largest Shareholder

M&A

New Projects/Investments

Anta Sports has agreed to acquire a 29.06% stake in Puma from the Pinault family's Artemis for €1.51 billion (approximately $1.79 billion), making it Puma's largest shareholder.
The acquisition involves purchasing 43 million shares at €35 each, which represents a 62% premium to Puma's recent share price, and will be financed using Anta's internal resources.
Anta intends to preserve Puma's brand identity and independent governance, will seek representation on Puma's supervisory board, and currently has no plans for a full takeover.
This transaction, expected to close by the end of 2026, is part of Anta's globalization strategy, aiming to strengthen Puma's international competitiveness and Chinese-market reach.

Jan 27, 2026, 12:52 AM

WSJ

ANTA Sports, Largest Shareholder of Amer Sports, Acquires Stake in PUMA

M&A

New Projects/Investments

ANTA Sports Products Limited, the largest shareholder of Amer Sports, Inc., will acquire a 29.06% stake in PUMA SE for 1.5 billion Euros in cash.
This transaction is a significant step in ANTA Sports' multi-brand globalization strategy and is expected to close by the end of 2026.
ANTA Sports will become the largest shareholder of PUMA and aims for appropriate representation on PUMA's supervisory board after the transaction.
ANTA Sports currently has no plans for a takeover bid of PUMA.

Jan 27, 2026, 12:23 AM

Press Release

Amer Sports: Anta Group Acquires PUMA Stake

M&A

New Projects/Investments

Anta Group, the largest shareholder of Amer Sports, Inc. , has agreed to acquire a 29.06% stake in PUMA SE from Groupe Artémis for 1.5 billion Euros in cash.
This acquisition is a key step in Anta Group's globalization strategy, aiming to enhance its global influence and competitiveness in the sports goods market.
The transaction is expected to be completed by the end of 2026, pending regulatory approvals.
Anta Group currently has no plans to launch a takeover bid for PUMA.

Jan 27, 2026, 12:21 AM

Press Release

Anta Group, Major Shareholder of Amer Sports, Acquires Stake in PUMA

M&A

New Projects/Investments

Anta Group, the largest shareholder of Amer Sports, Inc. (NYSE: AS), has announced an agreement to acquire 29.06% of PUMA SE shares from Groupe Artémis.
The acquisition is a cash transaction valued at 1.5 billion Euros.
This move is part of Anta Group's strategy to accelerate its multi-brand globalization and enhance its global market presence.
The transaction is anticipated to conclude by the end of 2026, subject to regulatory approvals.
Anta Group has no current plans to launch a tender offer for PUMA.