Amer Sports Drops 9% After Earnings Miss

(RTTNews) - Shares of Amer Sports, Inc. (AS) are falling more than 9 percent Tuesday morning after fourth-quarter earnings missed analysts' view. The company's first-quarter as well as full-year profit outlook also came in below the consensus estimates.

Excluding one-time items, loss was $41 million or $0.11 per share for the fourth quarter, compared with profit of $46 million or $0.12 per share a year ago. On average, 6 analysts polled by Thomson-Reuters were expecting loss of $0.01 per share for the quarter.

Net loss was $93 million or $0.25 per share, lower than $148.3 million or $0.39 per share a year ago.

Revenue for the quarter increased to $1.315 billion from $1.199 billion in the previous year. The consensus estimate was $1.3 billion.

For the first quarter, EPS is expected between a loss of $0.01 and profit of $0.02. This includes a negative impact of $0.08-0.09 from non-recurring finance costs related to refinancing in February. The Street is looking for $0.11 per share.

For the full year, EPS is expected in the range of $0.30-0.40. The consensus estimate stands at $0.51.

Amer Sports shares, currently at $15.85, has been trading in the range of $13.10 - $18.23 in the last 52 weeks.