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Amer Sports Q1 profit climbs YOY

Amer Sports Corp. said its first-quarter normalized net income came to 13 euro cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.

EPS rose year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €15.8 million, a gain from €7.1 million in the year-earlier period.

The normalized profit margin climbed to 2.7% from 1.4% in the year-earlier period.

Total revenue climbed 14.8% on an annual basis to €575.9 million from €501.5 million, and total operating expenses grew 12.8% from the prior-year period to €542.3 million from €480.9 million.

Reported net income grew on an annual basis to €17.6 million, or 15 cents per share, from €8.3 million, or 7 cents per share.