Amer Sports Inc · Q1 2025 earnings

Briefing

Amer Sports Q1 2025: revenue up 23% to $1.47B, raises full-year guidance

Amer Sports reported record first-quarter 2025 results for the period ended March 31, 2025, with revenue increasing 23% to $1,473 million, or 26% on a constant-currency basis. Technical apparel revenue rose 28% to $664 million led by Arc'teryx, outdoor performance grew 25% to $502 million, and ball and racquet delivered healthy growth led by Wilson Tennis 360. Gross margin expanded 350 basis points to 57.8% and operating profit nearly doubled to $214 million. Net income was $138 million, or $0.24 per diluted share, compared with $5 million a year ago; adjusted net income was $148 million, or $0.27 per diluted share. Management raised full-year 2025 revenue growth guidance to 15–17% and adjusted EPS to $0.67–$0.72.

• Revenue of $1,473M up 23% y/y (+26% constant currency), well above expectations
• Technical apparel $664M (+28%); outdoor performance $502M (+25%); gross margin 57.8%
• Operating profit $214M (+97%); adjusted operating profit $232M (+79%)
• Net income $138M ($0.24 EPS); adjusted net income $148M ($0.27 adj. EPS)
• Raised FY2025 revenue growth guidance to 15–17% and adjusted EPS to $0.67–$0.72

Headline financials

Revenue & EPS history

Raised FY2025 guidance: reported revenue growth 15–17%, gross margin 56.5–57%, operating margin 11.5–12%, adjusted diluted EPS $0.67–$0.72. Assumes current U.S. tariffs remain in effect.