(Adds Outlook, share movement)
Amer Sports, Inc. (AS) raised its annual outlook, while also initiating third-quarter guidance.
Andrew Page, CFO of Amer Sports, said: "Our strong financial performance in Q2 reinforces my confidence in our near- and long-term path forward."
For the full year, the company now expects income per share of $0.40 to $0.44, compared with the earlier outlook towards the high end of the $0.30 to $0.40 per share.
Analysts, on average, estimate the firm to earn $0.40 per share, for the year.
Annual revenue growth is now anticipated to be in the range of 15 percent to 17 percent, compared with the prior expectation for the mid-teens percentage growth.
For the third-quarter, Amer Sports expects earnings per share of $0.08 to $0.10 per share, on a revenue growth of 12 percent to 13 percent.
Analysts, on average expect the company to register income per share of $0.14, for the quarter.
AS was trading up by 7.77 percent at $13.29 in the pre-market trade on the New York Stock Exchange.
Q2 Results:
Below are the earnings highlights for Amer Sports:
Earnings: -$3.7 million in Q2 vs. -$96.9 million in the same period last year. EPS: -$0.01 in Q2 vs. -$0.25 in the same period last year. Excluding items, Amer Sports, Inc. reported adjusted earnings of $25 million or $0.05 per share for the period.
Analysts projected -$0.06 per share Revenue: $993.8 million in Q2 vs. $856.8 million in the same period last year.
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