BUZZ-Amer Sports falls; company forecasts annual revenue at higher end of previous expectations

Reuters
14 Jan
BUZZ-Amer Sports falls; company forecasts annual revenue at higher end of previous expectations

** Shares of Amer Sports AS.N down as much as 9.3% at $28.03

** Company sees full-year 2024 revenue growth to be at the high end of the previous expected range of 16% to 17%, nearly in line with analysts' estimates of 17% growth, according to data compiled by LSEG

** "While Amer Sports exceeded expectations and strengthened its balance sheet in Q4, investors zeroed in on the challenges posed by unfavorable foreign currency fluctuations - a turbulence likely to persist throughout the year" - Emarketer analyst Zak Stambor

** AS closed at $30.89 on Friday, after hitting a record high of $31.32 on Jan. 6

** "Company's Arc'teryx and Salomon brands cater to higher-income consumers who drove retail sales growth during holiday season and will continue doing so this year" - Stambor

** Company is set to report Q4 results on Feb. 25

** The Wilson tennis rackets maker's stock more than doubled in 2024 after it returned to public markets in a Jan IPO priced at $13

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10