The name may not be familiar to many investors. Amer Sports ( AS 10.36% ) However, they are probably familiar with the well-known brands of the company. Amer Sports possesses renowned sports and outdoor brands such as Wilson tennis rackets and footballs, Atomic and Salomon ski gear, and Louisville Slugger baseball bats.
If the company continues to deliver the strong performance outlined in today’s second-quarter report, it could become even more well-known. The company’s robust financial results prompted an upgrade in its full-year 2024 forecast, resulting in a stock price increase of up to 15.5% as investors reacted positively. By 2:10 p.m. ET, the stock was still showing a 9.9% gain. Amer Sports shares have surged around 24% in the last month alone.
Increasing the level of financial success or achievement.
Investors were likely expecting a strong quarter, which drove the recent increase in Amer Sports stocks. The company met these expectations with its latest update. Projected performance for the entire calendar year of 2024. The business is experiencing a second surge in momentum this year, largely attributed to the growth of its technical apparel brands. Revenue within this segment saw a significant increase of 45% in 2023, positioning it to surpass the outdoor performance segment and become the company’s largest division by 2024.
Management is looking for high-performance clothing, with a focus on the popular Arc’teryx brand. — The goal is to increase revenue by over 30% this year, marking the second upward revision from the initial forecast of 20% growth for 2024.
The company has also been increasing its annual projections. Projected earnings per share. After experiencing two years of declining profits, Amer Sports anticipates a profit of $0.42 per share for the current year. The company’s strong brand performance has attracted investors who are optimistic about leaving previous losses behind and are actively investing in Amer Sports today.
