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Amer Sports profit misses consensus by 19.0% in Q3

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Amer Sports profit misses consensus by 19.0% in Q3

Amer Sports Corp. said its third-quarter normalized net income was 52 euro cents per share, compared with the S&P Capital IQ consensus estimate of 65 cents per share.

EPS increased year over year from 51 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €61.6 million, an increase from €59.9 million in the prior-year period.

The normalized profit margin fell to 8.4% from 8.4% in the year-earlier period.

Total revenue rose on an annual basis to €736.8 million from €713.7 million, and total operating expenses climbed from the prior-year period to €630.3 million from €610.2 million.

Reported net income increased on an annual basis to €70.5 million, or 60 cents per share, from €69.1 million, or 59 cents per share.