Amer Sports reported adjusted earnings per share of $0.22 for the second quarter of 2026, more than triple the $0.06 a year earlier and ahead of the $0.11 consensus estimate. Revenue increased 32% year-over-year to $1.63 billion, beating the $1.54 billion consensus by $90 million. Adjusted net income reached $127 million, up from $36 million in the prior-year period.
Gross margin expanded to 65.8%, a 710-basis-point increase, including a 390-basis-point benefit from a $64.3 million one-time tariff refund. Underlying gross margin rose by over 300 basis points. Adjusted operating margin climbed 730 basis points to 12.8%. Direct-to-consumer sales accounted for a record 55% of total revenue, growing 40% year-over-year. Wholesale revenue rose 24%, led by Arc'teryx and Salomon.
Geographic growth was strongest in Asia Pacific at 60%, followed by Greater China at 36%, the Americas at 26%, and EMEA at 20%. Technical apparel and outdoor performance segments each grew more than 30%, while ball and racket revenue increased 24%. Operating cash flow for the first half of the year totaled $339 million, compared with $108 million a year earlier, and net cash stood at $573 million at quarter end.
The company raised its full-year 2026 guidance, now targeting revenue growth of about 24% versus the prior range of 20% to 22%. Adjusted diluted EPS is expected between $1.27 and $1.30, up from the prior $1.18 to $1.23. Segment outlooks were also increased: technical apparel to 25%-26%, outdoor performance to 27%-28%, and ball and racket to about 14%. Full-year gross margin is projected at 60.5% to 61%, with operating margin at 14.2% to 14.5%.
Amer Sports shares rose 6.57% in premarket trading to $34.71, extending gains from the prior close of $32.57. The stock has traded between $28.92 and $42.76 over the past 52 weeks.
