Amer Sports jumps as co hikes annual forecast on strong demand

Amer Sports

19/11/2024 13:43

** 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;))