On Holding AG · ONON · Next earnings

On Holding AG reports Wednesday, Nov 11, 2026

ONON reports before market open with consensus EPS at $0.47 and revenue at $1.13B. Last quarter: On Holding: DTC strength offsets softer Americas wholesale growth

Reports Before market open48 days awayDate estimated Consumer Cyclical

What the street expects

Consensus for the coming report
Consensus EPS $0.47 Calendar consensus
Consensus revenue $1.13B Calendar consensus
Report date Nov 11, 2026 Wednesday, date estimated
Session Before market open 48 days away

Where ONON left off: FY2026 Q2

Full report

On Holding: DTC strength offsets softer Americas wholesale growth

EPS surprise +4.7% Reported $0.44 vs $0.42
Revenue surprise -3.0% Reported $1.05B vs $1.08B
Stock move -20.3% Event window
Subsequent drift -13.2% Up to 20 sessions

Management maintained full-year guidance: low-20% sales growth, gross margin of at least 65%, and adjusted EBITDA margin of 19.5%-20%.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Wholesale softness in the United States and broader Americas
  • Dependence on product innovation to sustain premium pricing
  • Currency fluctuations and higher U.S. import tariffs
  • Execution risk from accelerated retail expansion

Questions analysts left open

  • Wholesale sell-through, especially in the Americas
  • Inventory build-up and its composition
  • Average selling price pressure across product tiers
  • Sustainability of DTC momentum in the second half

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Recent ONON quarters

All ONON earnings
-20.3%FY2026 Q2

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q2

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.