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Goldman Sachs

May 20, 2026

Amer Sports 1Q26 First Take Broad-based Beat and Guidance Raise

Single Stock ReportEquitiesConsumer Discretionary

Amer Sports (AS) reported a strong 1Q26 beat with $0.38 EPS and 32% revenue growth, leading to an upward revision of FY26 guidance. Strength was broad-based, notably led by the Salomon brand's 42% growth.

Key Takeaways

  • 1.Amer Sports reported a significant 1Q26 beat with adjusted EPS of $0.38 vs. the $0.31 consensus.
  • 2.Full-year 2026 guidance was raised across revenue, operating margin, and EPS metrics.
  • 3.The Outdoor Performance segment, specifically the Salomon brand, showed exceptional acceleration with 42% growth.

Table of Contents

  • Key takeaways
  • Valuation and Key Risks
  • Disclosure Appendix
  • GS Factor Profile
  • M&A Rank
  • Quantum
  • Disclosures
  • Company-specific regulatory disclosures
  • Distribution of ratings/investment banking relationships
  • Price target and rating history chart(s)
  • Target price history table(s)
  • Regulatory disclosures
  • Ratings, coverage universe and related definitions
  • Global product; distributing entities
  • General disclosures

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