Amer Sports Q2 2026: Gross Margin Jumps to 65.6% on Tariff Refunds and Brand Strength
As seen on the 24/7 Wall St. homepage on August 18, 2026.
Gross margin expanded to 65.6% from 58.5% a year ago, helped by $64.3 million in net tariff refunds after the Supreme Court struck down IEEPA duties, and both EPS and sales beat consensus. Management is steering roughly $400 million of 2026 capex into stores, warehousing, and an ERP overhaul.
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Amer Sports beat on both lines in Q2 2026, with GAAP earnings per share of $0.18 exceeding expectations and revenue of $1.63 billion growing 32.1% year over year.
Gross margin expanded to 65.6% from 58.5% a year ago, helped by net tariff refunds after the U.S. Supreme Court struck down IEEPA duties, which the company said added 3.9 percentage points to Q2 gross margin.
Arc'teryx, the company's highest-profile brand, grew revenue 32.5%, with Salomon and Wilson also expanding, while the direct-to-consumer channel was the fastest-growing sales route on the back of new owned retail stores.
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Asia Pacific was the fastest-growing region at 60.3%, with Greater China expanding as well, keeping international demand the core engine of the growth story against an unusually low prior-year base.
Management guided to approximately $400 million in 2026 capital expenditures for retail expansion, warehousing and an SAP ERP implementation, while risks include a material weakness in internal controls, a foreign currency loss and an inventory build that would pressure results if sales momentum slows.
Mentioned: AS