On Running jumps after raising outlook for revenue and gross margins
Shares of On Holding are sprinting ahead this morning, up about 9% as of 6 a.m. ET, as the Swiss running shoe company today raised its full-year guidance after reporting record net sales and profitability for the third quarter.
On revenues came in at 794.4 million Swiss francs (CHF), or ~$994 million, for the quarter, where analysts had expected $960 million, while adjusted earnings per share came in CHF 0.43, or $0.54, compared to Wall Street’s $0.34 consensus estimate, per Bloomberg. The company now expects annual sales to grow 34% from 2025, up from the previous 31% estimate, with On’s forecast for its gross profit margins now set at 62.5%, up from 60.5% to 61%.
On said that “remarkable athlete achievements, cultural moments elevating On globally, and the launch of its inspiring holiday campaign” have all helped fuel its “exceptionally high” momentum in recent weeks. Though buzz around the brand might still be building and its sales continue to race ahead of rivals’, shares are still down more than 30% year to date, even with today’s bump.
