BUZZ-Amer Sports jumps as co hikes annual forecast on strong demand

Reuters
2024-11-19
BUZZ-Amer Sports jumps as co hikes annual forecast on strong demand

** Sporting goods company Amer Sports AS.N shares jumped nearly 10% to $21.30 before the bell

** Company raises its full-year forecasts for revenue and earnings per share boosted by performance for its brands such as Arc'teryx and Salomon footwear

** Now expects 2024 revenue growth between 16% and 17%, compared to prior target of 15% to 17%

** Also hikes EPS to between 43 cents and 45 cents from prior range of 40 to 44 cents

** Q3 revenue rises 17% to $1.35 mln, and adjusted net income surges seven-fold to $71 mln

** YTD, Amer Sports stock is up nearly 46% as of last close

(Reporting by Aamir Sohail in Bengaluru)

((Aamir.Sohail@thomsonreuters.com;))

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