On Holding shares rise 4% after earnings call updates

Investing.com -- On Holding AG (NYSE:ONON ) reported mixed results for the fiscal Q3 and issued an annual revenue forecast slightly below expectations.

The company’s shares initially dropped around 7% in premarket trading on Tuesday before recovering to trade around 4% in the green following updates during the company's earnings call.

For Q3, On Holding posted earnings per share (EPS) of CHF 0.09, falling short of the analyst estimate of CHF 0.15.

Revenue came in at CHF 635.8 million, beating the consensus projection of CHF 618.7 million.

Direct-to-consumer (DTC) net sales grew 50% year-over-year to CHF 246.7 million, above the estimated CHF 219.7 million.

Wholesale net sales rose 23% year-over-year to CHF 389.1 million but missed the forecast of CHF 397.3 million.

Adjusted EBITDA reached CHF 120.1 million, marking a 48% year-over-year increase and beating the CHF 108.4 million estimate.

The company’s gross margin improved to 60.6%, compared to 59.9% a year ago and above the 60.1% estimate.

"This quarter's exceptional results are a demonstration of the incredible work of our team, the growing global demand for the On brand, and the power of On's premium position,” said Martin Hoffmann, Co-CEO and CFO of On Holding.

“Our commitment to innovation and excellence has allowed us to capture this demand and deliver outstanding performance, particularly in our DTC channel.”

For fiscal year 2024, On Holding raised its full-year 2024 net sales growth outlook to at least 32% on a constant currency basis, implying reported net sales of at least CHF 2.29 billion for the year. In comparison, consensus estimates stand at CHF 2.31 billion.

The company now expects an adjusted EBITDA margin at the upper end of its previous expected range of 16.0 - 16.5%.

Source: Investing.com

Последние публикации
Lender Banco do Brasil posts 8% profit increase, higher loan-loss outlook
14.11.2024 - 01:00
Major Apple supplier Foxconn expected to report strong Q3 results on AI boom
14.11.2024 - 01:00
B. Riley delays Q3 report, warns of loss from Franchise bankruptcy
14.11.2024 - 01:00
US regulators warn bankers about intensified focus on financial crime
14.11.2024 - 01:00
After-hours movers: Cisco, DLocal, CNH Industrial and more
14.11.2024 - 00:00
Bankman-Fried lieutenant builds fraud detection tool for prosecutors
14.11.2024 - 00:00
US Bank CEOs express confidence in deals, consumer finances
14.11.2024 - 00:00
Bank CEOs express confidence in deals, consumer finances
13.11.2024 - 23:00
Wall Street ends mixed while inflation data keeps Fed rate-cut hopes intact
13.11.2024 - 23:00
Cisco earnings beat by $0.04, revenue topped estimates
13.11.2024 - 23:00
Stock Market Today: S&P 500 ekes gain as yields rebound to cool recent rally
13.11.2024 - 23:00
Exclusive-Trump's team drawing up list of Pentagon officers to fire, sources say
13.11.2024 - 23:00
Colombia stocks lower at close of trade; COLCAP down 0.56%
13.11.2024 - 23:00
Canada stocks higher at close of trade; S&P/TSX Composite up 0.26%
13.11.2024 - 23:00
Russia stocks higher at close of trade; MOEX Russia Index up 0.35%
13.11.2024 - 23:00

© Analytic DC. All Rights Reserved.

new
Анализ рынка Как повлият завтра отчет NFP на курс доллара США?