The company’s revenue increased 32 per cent year on year (YoY) to $1.945 billion in Q1 of 2026, or 26 per cent on a constant currency basis. Amer Sports said all four regions delivered healthy double-digit revenue growth, while momentum continued into the second quarter.
Amer Sports raised its 2026 revenue, margin and EPS guidance after Q1 revenue grew 32 per cent to $1.945 billion, driven by strong double-digit growth across all regions.
Technical Apparel rose 33 per cent, Outdoor Performance 42 per cent, and Ball & Racquet Sports 13 per cent.
The operating profit increased 50 per cent, while adjusted EPS rose 47 per cent to $0.38.
“Our excellent momentum continued in the first quarter of 2026, as our unique portfolio of technical sports and outdoor brands are creating white space and taking share globally,” said CEO of Amer Sports James Zheng. “All segments, geographies, and channels performed extremely well in Q1, led by exceptional Salomon Softgoods growth, a strong Arc’teryx omni-comp, and solid Wilson Tennis 360 growth.”
Segment growth led by Outdoor Performance
Technical Apparel revenue rose 33 per cent to $885 million, or 28 per cent on a constant currency basis, driven by broad-based strength across regions, categories and channels. The segment recorded omni-comp growth of 19 per cent, Amer Sports said in a press release.
Outdoor Performance revenue increased 42 per cent to $714 million, or 33 per cent on a constant currency basis, supported by strong momentum in Salomon Softgoods. Ball & Racquet Sports revenue grew 13 per cent to $347 million, or 10 per cent on a constant currency basis, led by Wilson Tennis 360.
The gross margin improved by 210 basis points (bps) to 59.9 per cent, while adjusted gross margin rose 200 bps to 60 per cent. Selling, general and administrative expenses increased 33 per cent to $856 million, while adjusted SG&A expenses rose 34 per cent to $841 million.
Operating profit increased 50 per cent to $321 million, while adjusted operating profit rose 46 per cent to $339 million. Operating margin improved by 200 bps to 16.5 per cent and adjusted operating margin rose 160 bps to 17.4 per cent.
By segment, adjusted operating margin in Technical Apparel increased 250 bps to 26.4 per cent. Outdoor Performance margin expanded 480 bps to 20.4 per cent, while Ball & Racquet Sports margin declined 370 basis points to 3.6 per cent.
Net income attributable to equity holders increased 22 per cent to $165 million, or $0.29 diluted earnings per share. Adjusted net income attributable to equity holders rose 47 per cent to $218 million, or $0.38 adjusted diluted earnings per share.
Year-on-year inventories increased 33 per cent to $1.688 billion. The company ended the quarter with net cash of $539 million and cash and cash equivalents of $684 million.
CFO of Amer Sports Andrew Page said that the company had a strong start to the year, with sales growth, margin expansion and EPS growth. “The investments we have been making behind our biggest opportunities are paying off in terms of both sales growth and margin expansion,” he added.
FY26 guidance raised on strong momentum
For full-year 2026, Amer Sports now expects reported revenue growth of 20-22 per cent, including a 200-250 bps benefit from favourable foreign exchange impact at current exchange rates. Gross margin is expected at 59-59.5 per cent, while operating margin is projected at 13.4-13.7 per cent. Fully diluted EPS is forecast at $1.18-1.23.
For the second quarter of 2026, the company expects reported revenue growth of 22-24 per cent, including a 200-250 bps foreign exchange benefit. Gross margin is expected at around 59.5 per cent, operating margin at 6-7 per cent, and fully diluted EPS at $0.08-0.1.
Fibre2Fashion News Desk (SG)
