Amer Sports Shares Drop 8.6% After Q1 Outlook Misses Estimates

SelfRugger · 2026-03-15T09:36:20+00:00

Amer Sports shares fell 8.6% after Q1 guidance missed analyst expectations, forecasting lower earnings and operating margins due to increased spending on Salomon and Arc'teryx brands. The company aims for long-term brand strength despite current profitability challenges.

SelfRugger

2026-03-15 09:36:20

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Amer Sports Shares Drop 8.6% After Q1 Outlook Misses Estimates

Khac Phu Nguyen

Wed, February 25, 2026 at 4:55 AM GMT+9 1 min read

In this article:

-4.89%

This article first appeared on GuruFocus.

Amer Sports (NYSE:AS) shares came under pressure in premarket trading, sliding as much as 8.6%, after the company outlined first-quarter guidance that trailed Bloomberg-polled analyst expectations and signaled heavier spending behind its Salomon footwear and Arc’teryx apparel brands. The group projected adjusted earnings of 28 cents to 30 cents per share, below the 33 cents analysts had expected, alongside an adjusted operating margin of 14% to 14.5%, compared with the 16.2% consensus estimate. Management’s commentary suggests that elevated investments, particularly tied to Salomon, could weigh on near-term profitability even as the company works to reinforce brand positioning.

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That softer outlook follows a stronger fourth quarter. Sales advanced 28%, topping estimates and driven by its technical apparel and outdoor performance segments, home to Arc’teryx and Salomon, respectively. Even so, margins narrowed during the period, with Chief Financial Officer Andrew Page stating that investments in Salomon contributed to the pressure. The combination of accelerating revenue and tighter margins may indicate a deliberate trade-off, where management appears willing to absorb higher costs now in pursuit of sustained brand momentum.

Investors had already been monitoring potential headwinds ahead of the release. Analysts had pointed to an unusually warm winter in China that may have dampened Arc’teryx’s local sales, as well as lingering backlash after the brand sponsored a fireworks display in the Himalayas last year that drew environmental criticism. Against that backdrop, the below-consensus earnings and margin outlook could reinforce concerns that cost pressures and external factors may temper profit expansion in the near term, even as revenue trends continue to show resilience.

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