Amer Sports Inc

AS: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$21.00	Qywfkwb	Nytyjmlb

Amer Sports Earnings: 2024 Guidance Raised on Strong Arc’teryx Sales and China Growth

Ivan Su

Aug 21, 2024

Narrow-moat Amer’s second-quarter results exceeded expectations due to stronger Arctery’x sales, and management lifted its 2024 guidance—which led us to raise our 2024 earnings forecast by 2%. Given that the bulk of our long-term assumptions remain unchanged, we maintain Amer’s fair value estimate at $19 per share. With shares trading close to $14, we continue to view the company as undervalued.

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