Analyst Consensus ?
ConsensusBuy16 ratings
Bullish1487.5%
Neutral212.5%
Bearish00.0%
Amer Sports, Inc. · AS · FY2025 Q3 · Calendar Q4 2025
Amer Sports raises guidance as Arc'teryx and Salomon drive growth
The current analysis supports a constructive operating picture: strong Arc'teryx and Salomon demand, accelerating direct-to-consumer growth, store expansion, and raised guidance. The main tests are whether China demand remains resilient, inventory normalizes, and tariffs and investment spending are absorbed without undermining margins.
Reported Before market openNYSEConsumer Cyclical
$15.66B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.33
Consensus $0.25
EPS surprise
+31.0%
Reported versus consensus
Reported revenue
$1.76B
Consensus $1.72B
Revenue surprise
+2.1%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+8.5%
Event window
SPY move
-0.8%
Same window
Abnormal move
+9.3%
Stock minus SPY
Volume
2.8×
Versus trailing sessions
Subsequent drift
+13.6%
Up to 20 sessions
ASSPY benchmark
Ask FN2 about AS FY2025 Q3
Transcript, numbers and history already loaded
Why did AS rise 8.5% after beating EPS estimates in FY2025 Q3?What changed in AS's guidance and outlook in FY2025 Q3?Give me the bull and bear case for AS after FY2025 Q3 earnings.
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Transcript intelligence
What changed
Compared with the prior-quarter analysis, management reported faster revenue growth, stronger direct-to-consumer momentum, a further guidance increase, and a larger store and capital-investment plan. New developments included the Nelson Sports acquisition in Korea and expanded Veilance wholesale distribution.
Guidance delta
Management raised full-year 2025 revenue growth guidance to 23%–24% and EPS guidance to $0.88–$0.92.
Key takeaways
- Q3 revenue grew 30% year over year, adjusted EPS more than doubled, and operating margin expanded 130 basis points.
- Direct-to-consumer growth was strong, with overall DTC up 51%; Arc'teryx omni-comp growth reached 27% and Salomon DTC rose 67%.
- Inventory increased 28% year over year, with normalization expected in the second half of 2026 as ocean freight replaces air freight.
Management priorities
- Expand Arc'teryx and Salomon stores, including about 25 new Arc'teryx locations and roughly 290 Salomon doors in Greater China.
- Invest $300 million in store expansion, ERP optimization, and logistics upgrades.
- Advance new footwear and performance-product launches while expanding Wilson Tennis 360 formats and selected wholesale partnerships.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$26.95Current
$19Low
$43.23Average
$62High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 2, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Overweight | Overweight | Maintain | Sep 18, 2026 |
| BTIG | Buy | Buy | Maintain | Sep 18, 2026 |
| Truist Securities | Buy | Buy | Maintain | Aug 19, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 19, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Aug 4, 2026 |
| UBS | Buy | Buy | Maintain | May 20, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Feb 25, 2026 |
| Citigroup | Buy | Buy | Maintain | Sep 19, 2025 |
| Baird | Outperform | Outperform | Maintain | Sep 19, 2025 |
| B of A Securities | Buy | Buy | Maintain | Sep 19, 2025 |
| HSBC | Buy | Hold | Upgrade | Aug 27, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Jul 22, 2025 |
| TD Securities | Buy | Buy | Maintain | May 21, 2025 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | May 21, 2025 |
| TD Cowen | Buy | Buy | Maintain | Jan 8, 2025 |
| Bernstein | Market Perform | Outperform | Downgrade | Apr 8, 2024 |
Named analyst price targets
Upside is calculated against the persisted current price $26.95. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Analyst unavailable | $38 | $27.17 | +41.0% | Sep 21, 2026 |
| Goldman Sachs | Analyst unavailable | $43 | $26.27 | +59.6% | Sep 18, 2026 |
| UBS | Analyst unavailable | $42 | $27.77 | +55.8% | Sep 10, 2026 |
| Morgan Stanley | Alex Straton | $31 | $27.77 | +15.0% | Sep 10, 2026 |
| BMO Capital | Analyst unavailable | $38 | $28.69 | +41.0% | Sep 8, 2026 |
| Barclays | Analyst unavailable | $50 | $33.62 | +85.5% | Aug 19, 2026 |
| Piper Sandler | Anna Andreeva | $45 | $35.13 | +67.0% | Jul 27, 2026 |
| UBS | Jay Sole | $62 | $35.24 | +130.1% | May 20, 2026 |
| Deutsche Bank | Analyst unavailable | $52 | $35.14 | +92.9% | May 20, 2026 |
| Robert W. Baird | Jonathan Komp | $51 | $33.83 | +89.2% | May 20, 2026 |
| Truist Financial | Analyst unavailable | $50 | $33.82 | +85.5% | May 19, 2026 |
| Deutsche Bank | Analyst unavailable | $50 | $33.03 | +85.5% | May 13, 2026 |
| Truist Financial | Joseph Civello | $49 | $36.52 | +81.8% | Feb 25, 2026 |
| Evercore ISI | Michael Binetti | $50 | $41.15 | +85.5% | Feb 19, 2026 |
| UBS | Analyst unavailable | $60 | $40.69 | +122.6% | Feb 10, 2026 |
| Truist Financial | Joseph Civello | $46 | $37.14 | +70.7% | Jan 14, 2026 |
| Deutsche Bank | Analyst unavailable | $49 | $39.35 | +81.8% | Jan 8, 2026 |
| UBS | Analyst unavailable | $58 | $38.39 | +115.2% | Jan 8, 2026 |
| Wells Fargo | Ike Boruchow | $45 | $39.04 | +67.0% | Dec 16, 2025 |
| Barclays | Analyst unavailable | $49 | $37.19 | +81.8% | Dec 9, 2025 |
| Evercore ISI | Michael Binetti | $46 | $33.36 | +70.7% | Nov 19, 2025 |
| Nomura | Analyst unavailable | $39.8 | $33.36 | +47.7% | Nov 18, 2025 |
| Truist Financial | Analyst unavailable | $42 | $31.76 | +55.8% | Oct 27, 2025 |
| Wells Fargo | Ike Boruchow | $40 | $34.48 | +48.4% | Sep 29, 2025 |
| Wells Fargo | Ike Boruchow | $38 | $37.45 | +41.0% | Sep 22, 2025 |
| Morgan Stanley | Alex Straton | $41 | $37.45 | +52.1% | Sep 22, 2025 |
| Robert W. Baird | Jonathan Komp | $46 | $38.21 | +70.7% | Sep 19, 2025 |
| HSBC | Akshay Gupta | $50 | $40.71 | +85.5% | Aug 26, 2025 |
| KGI Securities | Analyst unavailable | $44.3 | $37.31 | +64.4% | Jun 25, 2025 |
| Wells Fargo | Ike Boruchow | $35 | $37 | +29.9% | May 21, 2025 |
| UBS | Jay Sole | $37 | $25.64 | +37.3% | Dec 17, 2024 |
| Evercore ISI | Michael Binetti | $25 | $19.92 | -7.2% | Nov 15, 2024 |
| Robert W. Baird | Jonathan Komp | $20 | $14.04 | -25.8% | Aug 21, 2024 |
| Bank of America Securities | Lorraine Hutchinson | $19 | $14.08 | -29.5% | Aug 21, 2024 |
| Morgan Stanley | Alex Straton | $15 | $15.01 | -44.3% | May 22, 2024 |
| UBS | Jay Sole | $23 | $15.05 | -14.7% | May 22, 2024 |
| Wells Fargo | Ike Boruchow | $17 | $14.76 | -36.9% | May 22, 2024 |
| Goldman Sachs | Brooke Roach | $21 | $16.1 | -22.1% | Feb 26, 2024 |
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Start freeCompany context
Snapshot as of publicationAmer Sports, Inc. is a global enterprise dedicated to the creation, production, promotion, and sale of athletic equipment, clothing, footwear, and related accessories. The company's extensive reach covers Europe, the Middle East, Africa, the Americas, China, and the wider Asia Pacific region. Its operations are structured into three main divisions. The Technical Apparel segment focuses on high-performance outdoor wear, shoes, and accessories, primarily under the Arc'teryx and Peak Performance brands. The Outdoor Performance segment supplies a variety of outdoor apparel, footwear, accessories, and winter sports gear from labels such as Salomon, Atomic, Armada, and ENVE. Finally, the Ball & Racquet Sports segment delivers sports equipment, activewear, and accessories, featuring prominent brands like Wilson, DeMarini, Louisville Slugger, EvoShield, and ATEC.…
Historical context
All AS earningsConsumer Cyclical peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| NKE NIKE, Inc. | FY2027 Q1 · Calendar Q4 2026 | +10.0% | -0.7% | Nike’s performance categories grow as resets weigh on FY27 outlook |
| CCL Carnival Corporation & plc | FY2026 Q3 · Calendar Q3 2026 | +5.9% | +13.4% | Carnival posts record Q3 as demand and efficiency offset fuel costs |
| DRI Darden Restaurants, Inc. | FY2027 Q1 · Calendar Q3 2026 | 0.0% | -3.0% | Darden reaffirms FY2027 outlook as brands deliver mixed comp growth |
| AZO AutoZone, Inc. | FY2026 Q4 · Calendar Q3 2026 | +3.6% | +3.3% | AutoZone pairs commercial momentum with an aggressive FY2027 expansion plan |
| LEN-B Lennar Corporation | FY2026 Q3 · Calendar Q3 2026 | — | — | Lennar: Efficiency Gains Offset Housing-Market Pressures |
| LEN Lennar Corporation | FY2026 Q3 · Calendar Q3 2026 | — | -4.1% | Lennar Holds Volume Guidance as Margins Improve Despite Housing Headwinds |
Latest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the AS recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars · 2026-10-02T16:56:07.110224+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-02T16:56:07.107389+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-02. For educational purposes only; not investment advice.