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

Amer Sports

13/01/2025 16:31

** 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;))