Amer Sports (AS) Q1 2026 Earnings Transcript

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DATE

Tuesday, May 19, 2026 at 8:00 a.m. ET

CALL PARTICIPANTS

• Chief Executive Officer — Jie Zheng

• Chief Financial Officer — Andrew Page

• Arc'teryx President — Stuart Haselden

• Ball & Racquet President — Guillaume de Monplanet

• Moderator — Omar Saad

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Full Conference Call Transcript

Jie Zheng: Thanks, Omar. Our excellent momentum continuing in Q1 as our unique portfolio of technical sports and outdoor brands are creating white space and take share globally. All segments, geographies and channels performed extremely well in the quarter, led by exceptional Salomon Softgoods growth, a strong Arc'teryx Omni-comp and solid -- and we delivered strong results across the P&L, including 32% sales growth and 160 basis points of adjusted operation margin expansion. All 4 regions achieved solid double-digit revenue growth, and that strong momentum has continued in Q2.

Looking forward, given the continued broad-based momentum across our portfolio and the talent and ambitious teams we have in place around the world, we are very confident in the future outlook for Amer Sports Group. Several factors give me that confidence. First, we own and operate a unique portfolio of premium innovation-driven sports and outdoor brand. These brands are still only small to medium size with significant room to grow globally. Second, Arc'teryx is a breakout outdoor brand. with leading growth and profitability for the industry driven by its disruptive direct-to-consumer model. Third, demand for Salomon's unique outdoor sneak offering is inflecting globally but the brand still only has a small share of the very large global market.

Fourth, our worsened and the winter sports equipment franchises -- have leading market positions, which we believe will deliver slower long-term growth except for weather soft goods, which we believe is unique in the marketplace and has significant potential. And fifth, we believe we have a strong and differentiated platform in Great China and APAC where we continue to deliver best-in-class performance across our offering. Before I turn it over to Andrew, I will briefly recap key highlights from our 3 segments. Starting with technical apparel. Arc'teryx delivered another great quarter with broad-based strength across regions, channels and categories, including another exceptional performance from women's strong momentum in the direct-to-consumer channel continued driven by 19% Omni-comp.

We continue to envision Arc'teryx as a truly global brand with significant runway in all major markets, and we are encouraged that the brand is generating strong double growth across all 4 regions, including a notable acceleration in North America, with this momentum continued in Q1, growing faster than any other category for Arc'teryx. Our confidence in the women's opportunity is rising as we are both on attracting new female consumers to the brand and to driving higher engagement and spend with existing female consumers really see brand affinity with women rising as we improve fit style and function while building expanded assortments, leveraging our unique design advantage.