On Holding Q2 Sales Exceed Expectations; CEO Highlights Long-Term Strategic Initiatives
Portfolio Pulse from Nabaparna Bhattacharya
On Holding AG (NYSE:ONON) reported Q2 sales of $627.683 million, surpassing expectations of $561.038 million. Despite missing EPS estimates by 1 cent, the company saw improvements in gross profit margin, net income, and adjusted EBITDA. CEO David Allemann highlighted strategic initiatives, including a partnership with Zendaya and new technology. The company reiterated its full-year sales growth expectation of at least 30%. ONON shares rose by 6.90% to $42.29.
August 13, 2024 | 4:11 pm
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On Holding AG reported Q2 sales of $627.683 million, beating expectations. Despite missing EPS estimates by 1 cent, the company saw improvements in gross profit margin, net income, and adjusted EBITDA. CEO highlighted strategic initiatives and reiterated strong full-year sales growth expectations. Shares rose by 6.90%.
The significant beat on sales expectations and the positive outlook for the full year, despite a minor miss on EPS, have driven the stock price up by 6.90%. The company's strategic initiatives and improved profitability metrics further support a positive short-term impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100