Amer Sports Reports Second Quarter 2026 Financial Results, Raises Full Year Revenue, Margin, and EPS Guidance

Strong 2Q26 results with revenues, adjusted margins and EPS above guidance, excluding the benefit from net tariff refunds Revenue increased 32% to $1,633 million, or +30% ex-currency, and strong momentum continues into 3Q26 Group operating margin, excluding the benefit from net tariff refunds, expanded over 300 basis points All regions and segments achieved strong double-digit revenue growth Technical Apparel grew 32% led by Arc'teryx, and driven by broad-based strength across regions, categories and channels, including a +17% omni-comp Outdoor Performance grew 37% driven by excellent momentum in Salomon Softgoods Ball & Racquet grew 24% led by Wilson Tennis 360 NEW YORK--(BUSINESS WIRE)--Amer Sports, Inc. (NYSE: AS) (“Amer Sports” or the “Company”) today announced its financial results for the second quarter of 2026. CEO James Zheng commented "Our global momentum continued through the second quarter with over 30% revenue growth and strong operating margin expansion. All segments, geographies, and channels achieved strong double-digit growth led by another exceptional quarter from Salomon Softgoods, a strong Arc'teryx omni-comp, and a Wilson Tennis 360 acceleration. "Given the broad-based momentum across our portfolio, the healthy and growing premium sports and outdoor market, and the world class teams we have in place around the world, I am very confident in the future outlook for Amer Sports." SECOND QUARTER 2026 RESULTS For the second quarter of 2026, compared to the second quarter of 2025: Revenue increased 32% to $1,633 million, or 30% on a constant currency basis1. Revenues by segment: Technical Apparel increased 32% to $674 million, or increased 30% on a constant currency basis. This reflects an omni-comp2 growth of 17%. Outdoor Performance increased 37% to $569 million, or increased 35% on a constant currency basis. Ball & Racquet Sports increased 24% to $390 million, or increased 23% on a constant currency basis. Gross margin increased 710 basis points to 65.6%, including a benefit of 390 basis points from net tariff refunds; Adjusted gross margin increased 710 basis points to 65.8%, including a benefit of 390 basis points from net tariff refunds. Selling, general and administrative expenses increased 30% to $909 million; Adjusted selling, general and administrative expenses increased 33% to $897 million. Operating profit increased 339% to $192 million; Adjusted operating profit increased 209% to $208 million. Operating margin increased 820 basis points to 11.7%, including a benefit of 390 basis points from net tariff refunds. Adjusted operating margin increased 730 basis points to 12.8%, including a benefit of 390 basis points from net tariff refunds. Adjusted operating margin by segment: Technical Apparel increased 470 basis points to 18.8%, including a benefit of 170 basis points from net tariff refunds. Outdoor Performance increased 800 basis points to 14.6%, including a benefit of 270 basis points from net tariff refunds. Ball & Racquet Sports increased 1,300 basis points to 17.2%, including a benefit of 970 basis points from net tariff refunds. Net income attributable to equity holders of the Company increased 489% to $107 million, which is $0.18 diluted earnings per share; Adjusted net income attributable to equity holders of the Company increased 252% to $127 million, which is $0.22 adjusted diluted earnings per share. Net income includes a benefit of $50.1 million from tariff refunds, net of the release of capitalized tariff costs, specific inventory reserves, and estimated reimbursements to vendors. Balance sheet. Year-over-year inventories increased 19% to $1,897 million. Net cash3 was $573 million, and cash and cash equivalents totaled $720 million at quarter end. 1 Constant currency revenue is calculated by translating the current period reported amounts using the actual exchange rates in use during the comparative prior period, in place of the exchange rates in use during the current period. 2 Omni-comp reflects year-over-year revenue growth from owned retail stores and e-commerce sites that have been open at least 13 months. 3 Net cash is defined as cash and cash equivalents, less the principal value of non-current borrowings, the revolving credit facility and other borrowings. OUTLOOK CFO Andrew Page noted, “We had another great financial performance in the second quarter across the P&L, with strong sales, margins, and EPS. The investments we have been making are paying off in the form of strong momentum across our three largest opportunities: Arc'teryx, Salomon Softgoods, and Wilson Tennis 360. And we will continue to reinvest behind these early-stage growth engines to ensure high quality long-duration growth and strong brand equity over the long term. "Looking ahead, the strong position of our brands, great execution by our teams, and healthy demand trends in the market, give us the confidence to raise our full year 2026 sales, margin, and EPS guidance." FULL-YEAR 2026 Amer Sports is increasing guidance for the year ending December 31, 2026 (all guidance figures reference adjusted amounts). Guidance assumes that the most recently announced Section 301 tariff rates remain in place for the remainder of 2026. Reported revenue growth: approximately 24%, which assumes a 200 – 250 basis point currency benefit at current exchange rates Gross margin: 60.5 — 61.0% Operating margin: 14.2 – 14.5% Net finance cost: approximately $85 million Effective tax rate: approximately 28% Other operating income will be approximately $43 million, and non-controlling interest approximately $30 million Fully diluted share count: approximately 585 million Fully diluted EPS: $1.27 – $1.30 D&A: approximately $450 million, including approximately $220 million of ROU depreciation CapEx: approximately $400 million Corporate expenses: approximately $240 million Technical Apparel: Revenue growth of 25% – 26% Segment operating margin approximately 22.5% Outdoor Performance: Revenue growth of 27% – 28% Segment operating margin 16.0% – 16.5% Ball & Racquet: Revenue growth of approximately 14% Segment operating margin 6.7% – 7.2% THIRD QUARTER 2026 Amer Sports is providing the following guidance for the third quarter ending September 30, 2026 (all guidance figures reference adjusted amounts). Guidance assumes that the most recently announced Section 301 tariff rates remain in place for the remainder of 2026. Reported revenue growth: 18 – 20%, which assumes an approximately 50 basis point currency benefit at current exchange rates Gross margin: approximately 59.0% Operating margin: 13.5 – 14.0% Net finance cost: $15 – $20 million Effective tax rate: approximately 28% Fully diluted share count: approximately 590 million Fully diluted EPS: $0.31 – $0.33 Other than with respect to revenue, Amer Sports only provides guidance on a non-IFRS basis. The Company does not provide a reconciliation of forward-looking non-IFRS measures to the most directly comparable IFRS Accounting Standards measures due to the difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations without unreasonable efforts. The Company is unable to address the probable significance of the unavailable reconciling items, which could have a potentially significant impact on its future IFRS financial results. The above outlook reflects the Company’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change. Actual results may differ materially from these forward-looking statements, including as a result of, among other things, the factors described under “Forward-Looking Statements” below and in our filings with the SEC. INVESTOR DAY Amer Sports will host an investor day September 17, 2026 in Annecy, France from 9:00 am to approximately 5:00 pm Central European Time. The presentation will be webcast live. CONFERENCE CALL INFORMATIONRead the full story here

Amer Sports Reports Second Quarter 2026 Financial Results, Raises Full Year Revenue, Margin, and EPS Guidance

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