Q2 2024 Amer Sports Inc Earnings Call Transcript
Key Points
- Amer Sports Inc (AS) reported strong second-quarter results with sales, margin, and EPS ahead of guidance.
- The company achieved 16% sales growth in Q2, driven by flagship brand Arc'teryx.
- Adjusted operating margin increased to nearly 3%, well above expectations.
- Arc'teryx continues to show strong growth and profitability, particularly in new categories like footwear and women's apparel.
- Sales in Greater China grew by more than 50%, outperforming the market significantly.
- Winter Sports Equipment segment showed softer trends, particularly in North America and EMEA.
- Ball & Racquet segment experienced margin compression due to SG&A deleverage and higher retail investments.
- Peak Performance brand in Europe continues to face challenges, impacting overall regional growth.
- Adjusted SG&A expenses increased, representing 52.9% of revenues in Q2, driven by higher DTC investments.
- The company faces a high effective tax rate, expected to be around 50% to 55% in the back half of the year.
Thank you for standing by, and welcome to the Amer Sports Second Quarter Fiscal 2024 earnings conference call. (Operator Instructions) Thank you. I'd now like to turn the call over to Omar Saad, Vice President of Finance, and Investor Relations. You may begin.
Hello everyone. Thanks for joining Amer Sports earnings call for the second quarter of fiscal year 2024. Earlier this morning we announced our financial results for the quarter ended June 30, 2024, and the release can be found on our IR website investors.amersports.com
A quick reminder to everyone that today's call will contain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements reflect our current expectations and beliefs only, and are subject to certain risks and uncertainties that could cause actual results to differ materially.
Please see the safe harbor statement in our earnings release and SEC filings. We will also discuss certain non-IFRS financial measures. Please refer to
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