Amer Sports, Inc. (AS) Misses Q1 EPS by 3c, Offers FY24 Guidance
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Amer Sports Reports First Quarter 2024 Financial Results, Company Updates Full Year Guidance
May 21, 2024 6:45 AM EDTFirst quarter revenue, adjusted operating margin, and adjusted diluted EPS above guidance First quarter revenue increased 13% year-over-year to $1.2 billion led by the Technical Apparel Segment Strong gross margin expansion reflecting mix shift toward highest-margin brands, channels, and regions Flagship Arcteryx brand continues to generate best-in-class financial performance IPO proceeds used to pay down $1.4 billion of debt; ended 1Q with $1.7 billion of net debt1
1 Net debt is defined as loans from financial institutions and related parties less cash and cash equivalents
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