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Amer Sports (AS) is nicely higher today after reporting its Q3 results this morning. The Finland-based athletic company comfortably beat expectations on the top and bottom line, with revenue accelerating, increasing 30% yr/yr to $1.76 bln. The company also raised its FY25 guidance, now expecting EPS of $0.88-0.92 from $0.77-0.82, above expectations, while revenue is now expected to grow 23-24% (about 6.375-6.427 bln) from +20-21% growth.

• Outdoor Performance remains a key driver, with revenue increasing 36% (+35% in Q2) to $724 mln, driven by strong Salomon footwear momentum; omni-comp in the segment was +33%.
• Technical Apparel followed, with revenue increasing 31% (+23% in Q2) to $683 mln, supported by Arc'teryx's reaccelerating DTC omni-comp (+27% from +15%), and continued strength across women's and footwear.
• Ball & Racquet had another double-digit quarter, up 16% yr/yr to $350 mln, an acceleration from +11% in Q2, driven by Wilson soft goods and solid racquet-sports demand across China, APAC, and Europe.
• DTC continued to reflect strong consumer connection, growing 51% group-wide as all regions delivered double-digit growth, led by APAC (+54%), China (+47%), EMEA (+23%), and the Americas (+18%).
• Looking ahead, AS expects growth to reach the high end of its long-term targets, alongside continued margin expansion, which increased 160 bps to 56.8%.

Briefing.com Analyst Insight

AS's beat-and-raise report is helping lift shares, supported by ongoing strength across Arc'teryx and Salomon footwear, which continue to anchor the company's growth. Salomon remains a standout with strong sports-style demand, improving traction in performance running, and rapid growth across China, Korea, and Japan. Regionally, APAC and China remain the fastest-growing markets, Europe provides a stable base, and North America is improving as AS refines its channel mix and leans more into DTC and better wholesale partners. Taken together with the raised FY25 outlook, these trends indicate AS remains well positioned as it moves toward 2026. Even so, shares have been stuck in a tight range since the big gap-up in May. Today's move is encouraging, but in a competitive retail environment, investors may still want to see sustained outperformance from Salomon and Arc'teryx.