Amer Sports, Inc. (AS) Tops Q3 EPS by 8c, Beats on Revenue; Offers Guidance

November 18, 2025 6:08 AM EST

Amer Sports, Inc. (NYSE: AS) reported Q3 EPS of $0.33, $0.08 better than the analyst estimate of $0.25. Revenue for the quarter came in at $1.76 billion, versus $1.73 billion reported last year.

Amer Sports is updating guidance for the year ending December 31, 2025 (all guidance figures reference adjusted amounts). Guidance assumes the latest tariff rates on all countries will stay in place for the remainder of 2025 and beyond:

Reported revenue growth: 23% – 24%, including an approximate 100 basis point benefit from favorable Fx impact at current exchange rates
Gross margin: approximately 58%
Operating margin: 12.5% – 12.7%
Net finance cost: $85 – $90 million
Effective tax rate: 27% – 28%
Other operating income will be approximately $20 million, and non-controlling interest approximately $15 million
Fully diluted share count: approximately 563 million
Fully diluted EPS: $0.88 – 0.92
D&A: approximately $350 million, including approximately $180 million of ROU depreciation
CapEx: approximately $300 million
Technical Apparel:

Revenue growth of 26% – 27%
Segment operating margin approximately 21%

Outdoor Performance:

Revenue growth of 28% – 29%
Segment operating margin 13% – 13.5%

Ball & Racquet:

Revenue growth of 10% – 11%
Segment operating margin of 3% – 4%

For earnings history and earnings-related data on Amer Sports, Inc. (AS) click here.



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