Analyst Consensus ?
ConsensusBuy16 ratings
Bullish1487.5%
Neutral212.5%
Bearish00.0%
Amer Sports, Inc. · AS · FY2026 Q2 · Calendar Q3 2026
Amer Sports Q2: Growth Accelerates, Guidance Raised, Tariff Refund Supports Margin
Amer Sports' Q2 results support the view that resilient demand and continued earnings growth can extend over the next year: revenue growth accelerated, DTC reached a record share of sales, and management raised full-year guidance. The key qualification is that margin expansion benefited from a $64.3 million net tariff refund, so the durability of underlying flow-through and second-half demand remains important.
Reported Before market openNYSEConsumer Cyclical
$15.46B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.22
Consensus $0.11
EPS surprise
+108.3%
Reported versus consensus
Reported revenue
$1.63B
Consensus $1.54B
Revenue surprise
+6.0%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+3.2%
Event window
SPY move
-0.7%
Same window
Abnormal move
+3.9%
Stock minus SPY
Volume
2.7×
Versus trailing sessions
Subsequent drift
-19.3%
Up to 20 sessions
ASSPY benchmark
Ask FN2 about AS FY2026 Q2
Transcript, numbers and history already loaded
Why did AS rise 3.2% after beating EPS estimates in FY2026 Q2?What changed in AS's guidance and outlook in FY2026 Q2?Give me the bull and bear case for AS after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, full-year revenue growth guidance increased from 20%–22% to 22%–24%, while DTC mix rose from about 50% to a record 55% of sales. Q2 also introduced a $64.3 million net tariff refund as a material margin support, alongside continued store expansion and product launches.
Guidance delta
Management raised full-year 2026 revenue growth guidance to 22%–24% and raised margin targets.
Key takeaways
- Revenue grew 32% year over year, with direct-to-consumer sales at a record 55% of revenue.
- Adjusted operating margin expanded to 12.8%, aided by a $64.3 million net tariff refund.
- Arc'teryx women's apparel, Salomon sportstyle and GRVL, and Wilson Tennis 360 were key growth areas.
- The company plans continued store expansion, product launches, and brand-building investments.
Management priorities
- Open 30–35 new Arc'teryx stores globally in 2026.
- Add 45 new Salomon stores in Greater China and expand epicenter locations in the U.S.
- Extend Wilson Tennis 360 retail presence in Dick's Sporting Goods toward a 450-store target.
- Continue Arc'teryx footwear and Salomon mesh-technology launches while investing in brand partnerships.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$27.02Current
$19Low
$43.45Average
$62High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 21, 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 $27.02. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Goldman Sachs | Analyst unavailable | $43 | $26.27 | +59.2% | Sep 18, 2026 |
| UBS | Analyst unavailable | $42 | $27.77 | +55.5% | Sep 10, 2026 |
| Morgan Stanley | Alex Straton | $31 | $27.77 | +14.8% | Sep 10, 2026 |
| BMO Capital | Analyst unavailable | $38 | $28.69 | +40.7% | Sep 8, 2026 |
| Barclays | Analyst unavailable | $50 | $33.62 | +85.1% | Aug 19, 2026 |
| Piper Sandler | Anna Andreeva | $45 | $35.13 | +66.6% | Jul 27, 2026 |
| UBS | Jay Sole | $62 | $35.24 | +129.5% | May 20, 2026 |
| Deutsche Bank | Analyst unavailable | $52 | $35.14 | +92.5% | May 20, 2026 |
| Robert W. Baird | Jonathan Komp | $51 | $33.83 | +88.8% | May 20, 2026 |
| Truist Financial | Analyst unavailable | $50 | $33.82 | +85.1% | May 19, 2026 |
| Deutsche Bank | Analyst unavailable | $50 | $33.03 | +85.1% | May 13, 2026 |
| Truist Financial | Joseph Civello | $49 | $36.52 | +81.4% | Feb 25, 2026 |
| Evercore ISI | Michael Binetti | $50 | $41.15 | +85.1% | Feb 19, 2026 |
| UBS | Analyst unavailable | $60 | $40.69 | +122.1% | Feb 10, 2026 |
| Truist Financial | Joseph Civello | $46 | $37.14 | +70.3% | Jan 14, 2026 |
| Deutsche Bank | Analyst unavailable | $49 | $39.35 | +81.4% | Jan 8, 2026 |
| UBS | Analyst unavailable | $58 | $38.39 | +114.7% | Jan 8, 2026 |
| Wells Fargo | Ike Boruchow | $45 | $39.04 | +66.6% | Dec 16, 2025 |
| Barclays | Analyst unavailable | $49 | $37.19 | +81.4% | Dec 9, 2025 |
| Evercore ISI | Michael Binetti | $46 | $33.36 | +70.3% | Nov 19, 2025 |
| Nomura | Analyst unavailable | $39.8 | $33.36 | +47.3% | Nov 18, 2025 |
| Truist Financial | Analyst unavailable | $42 | $31.76 | +55.5% | Oct 27, 2025 |
| Wells Fargo | Ike Boruchow | $40 | $34.48 | +48.1% | Sep 29, 2025 |
| Wells Fargo | Ike Boruchow | $38 | $37.45 | +40.7% | Sep 22, 2025 |
| Morgan Stanley | Alex Straton | $41 | $37.45 | +51.8% | Sep 22, 2025 |
| Robert W. Baird | Jonathan Komp | $46 | $38.21 | +70.3% | Sep 19, 2025 |
| HSBC | Akshay Gupta | $50 | $40.71 | +85.1% | Aug 26, 2025 |
| KGI Securities | Analyst unavailable | $44.3 | $37.31 | +64.0% | Jun 25, 2025 |
| Wells Fargo | Ike Boruchow | $35 | $37 | +29.6% | May 21, 2025 |
| UBS | Jay Sole | $37 | $25.64 | +37.0% | Dec 17, 2024 |
| Evercore ISI | Michael Binetti | $25 | $19.92 | -7.5% | Nov 15, 2024 |
| Robert W. Baird | Jonathan Komp | $20 | $14.04 | -26.0% | Aug 21, 2024 |
| Bank of America Securities | Lorraine Hutchinson | $19 | $14.08 | -29.7% | Aug 21, 2024 |
| Morgan Stanley | Alex Straton | $15 | $15.01 | -44.5% | May 22, 2024 |
| UBS | Jay Sole | $23 | $15.05 | -14.9% | May 22, 2024 |
| Wells Fargo | Ike Boruchow | $17 | $14.76 | -37.1% | May 22, 2024 |
| Goldman Sachs | Brooke Roach | $21 | $16.1 | -22.3% | 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.…
Consumer Cyclical peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| 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 |
| TCOM Trip.com Group Limited | FY2026 Q2 · Calendar Q3 2026 | +22.3% | +3.0% | Trip.com pairs international growth with heavier AI investment |
| CASY Casey's General Stores, Inc. | FY2027 Q1 · Calendar Q3 2026 | +8.7% | -14.2% | Casey's Q1: Prepared Food Drives Growth as Fuel Margins Stay Volatile |
| LULU Lululemon Athletica Inc. | FY2026 Q2 · Calendar Q3 2026 | +63.1% | -17.4% | Lululemon lowers FY2026 outlook as North America weakens |
| FIVE Five Below, Inc. | FY2027 Q2 · Calendar Q3 2026 | +20.0% | -1.3% | Five Below raises outlook as its retail flywheel gains momentum |
Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% 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 · 2026-08-18T20:14:23.545301+00:00
- FN2 earnings calendar · 2026-09-21T01:23:13.071796+00:00
- Polygon adjusted daily market bars · 2026-09-21T13:20:55.388698+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-21T13:20:55.385899+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 . For educational purposes only; not investment advice.