Why On Holding Shares Are Dipping Today
Portfolio Pulse from Lekha Gupta
On Holding AG reported Q2 FY23 results, with sales growth of 52.3% Y/Y to CHF 444.3 million. The company's adjusted EPS was CHF 0.04, lower than CHF 0.14 last year. In USD terms, the Q2 adjusted EPS of $0.04 missed the consensus of $0.13, while sales of $494.08 million beat the consensus of $463.07 million. The company raised its FY23 sales guidance, expecting revenues to reach at least CHF 1.76 billion. Despite the positive results, ONON shares are trading lower by around 7%.
August 15, 2023 | 11:35 am
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On Holding AG's Q2 FY23 results showed strong sales growth but missed EPS consensus. Despite raising its FY23 sales guidance, ONON shares are trading lower.
On Holding AG reported strong sales growth for Q2 FY23 and raised its FY23 sales guidance, indicating positive business performance. However, the company's adjusted EPS missed the consensus, which could have led to the decrease in share price. The news is highly relevant and important for ONON investors, and the confidence in this analysis is high due to the clear correlation between the earnings report and the stock price movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100