Amer Sports, Inc.: 1Q26 Review: Accelerating Growth with Strong Execution Across Portfolio

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Amer Sports, Inc.: 1Q26 Review: Accelerating Growth with Strong Execution Across Portfolio

Equity Research

U.S. Specialty Retail, Apparel & Footwear

19 May 2026

Amer Sports, Inc.

1Q26 Review: Accelerating Growth

with Strong Execution Across

AS OVERWEIGHTPortfolio

Unchanged

1Q26 results beat across the board v. both company and U.S. Specialty Retail, POSITIVE Apparel & Footwear

Unchangedconsensus expectations, driven by broad based strength

across segments, channels, and regions. The company raised Price Target USD 49.00 Unchanged

its FY26 guidance and issued 2Q26 guidance ahead of cons. Price (18-May-26) USD 33.15

Potential Upside/Downside +47.8%expectations for Sales, OM, and EPS. We reiterate our OW

Source: Bloomberg, Barclays Research

rating.

Market Cap (USD mn) 19272

JOIN US: June 9, 2026: Barclays 5th Annual Greater Los Angeles Supply Chain Tour. (click Shares Outstanding (mn) 581.38

here). Exclusive global macro trade dinner with the CEO of the Port of Long Beach. Gain first- Free Float (%) 32.24

hand investable intelligence on the pulse of global trade, oil shock impact, macro demand, and 52 Wk Avg Daily Volume (mn) 4.5

supply chain disruption. Dividend Yield (%) N/A

Return on Equity TTM (%) 7.91

Accelerating Growth with Strong Execution Across Portfolio. AS delivered standout 1Q26 Current BVPS (USD) 10.40

results, with revenue +32% reported (+26% CC), as the company delivered double-digit top-line Source: Bloomberg

growth across all segments, channels, and regions, GM expansion of +200bps, and OM

expansion of +160bps, all leading to adj. EPS of $0.38, ahead of both company and consensus Price Performance Exchange-NYSE

expectations, underscoring broad-based strength across the portfolio and further proof points 52 Week range USD 42.76-28.92