13 August 2024 | 10:54AM BST 2131d4eaf4cb4d50b1d51c8af07b64b4 ON Holding (ONON): First Take: 2Q24 adj. EBITDA +5% beat; FY24 guidance reiterated News: On Holding reported 2Q24 adj. EBITDA of CHF 90.8mn, +5.3% above FactSet consensus of CHF 86.2mn, driven by net sales of CHF 567.7mn, +27.8% yoy and +29.4% cFX (consensus CHF 562mn, +26% yoy and Visible Alpha Consensus Data +30.1% cFX). Group gross margin came in at 59.9%, +40bps yoy (FactSet consensus +60bps yoy to 60.1%), with adj. EBITDA margins of 16% (con ...

ON Today ONON ON $41.95 +2.40 (+6.07%) 52-Week Range $23.41 ▼ $44.30 P/E Ratio 95.34 Price Target $43.67 Add to Watchlist On Holdings' NYSE: ONON Q2 results were mixed regarding the analysts' expectations, but that is the only thing to hold against them. The strengthening of the Swiss franc impacts the details, which are still robust in every way and driving the stock price higher. The critical detail is that this athletic apparel maker continues gaining traction, and its share prices will increase in time. ...

Financial Data and Key Metrics Changes - The company reported net sales of CHF567.7 million in Q2 2024, representing a growth of 28% year-over-year, with a constant currency growth of 29.4% [4][20] - Gross profit reached CHF340.2 million, resulting in a gross profit margin of 59.9% [32] - Net income increased significantly to CHF30.8 million from CHF3.3 million in Q2 2023 [33] Business Line Data and Key Metrics Changes - Wholesale net sales grew by 27.6% to CHF358.2 million, while D2C sales reached CHF209.4 million, growing by 28.1% year-over-year [21][22] - The footwear segment saw a growth of 26.7%, reaching CHF542.5 million, with strong demand across all product verticals [27] - Apparel sales grew by 63% to CHF21.9 million, indicating a strong momentum in this category [30] Market Data and Key Metrics Changes - EMEA region net sales reached CHF138.4 million, growing by 21.8% year-over-year [25] - The Americas contributed CHF370 million in Q2, with a growth rate of 24.8% [26] - APEC region experienced remarkable growth of 73.7%, reaching CHF59.2 million [27] Company Strategy and Development Direction - The company emphasizes long-term growth and innovation, highlighted by the introduction of the LightSpray technology, which aims to revolutionize manufacturing and sustainability [12][14] - The strategy includes a focus on existing distribution partners and deeper penetration in strategic accounts to drive growth [21] - The company plans to maintain a strong marketing presence and brand awareness through partnerships and events, such as the collaboration with Zendaya [16][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a constant-currency net sales growth rate of at least 30% for 2024, despite ongoing distribution challenges [36] - The company anticipates a strong second half of the year, driven by holiday season sales and a higher volume of products [49] - Management acknowledged the need to improve operational efficiency and inventory management to meet consumer demand [41][42] Other Important Information - The company surpassed CHF1 billion in net sales in a six-month period for the first time, marking a significant milestone [20] - The transition to a fully automated warehouse in Atlanta is expected to enhance distribution capabilities in the long term [41] Q&A Session Summary Question: Constraints in North America and prioritization of new launches - Management discussed the ongoing transition of the Atlanta warehouse causing capacity constraints, leading to unreliable deliveries and inventory shortages [40][41] Question: Marketing metrics and consumer engagement - The visibility of the brand increased significantly, with Zendaya's air tennis match viewed over 15 million times on Instagram [44][45] Question: Adjusted EBITDA margin guidance for the second half - Management expects a slight reacceleration in the second half due to higher sales volume and lower marketing expenses as a percentage of net sales [48][49] Question: EMEA channel dynamics and door closures - Management noted a stabilization in EMEA performance and a positive outlook for Q3 and Q4, with a focus on existing store growth [50][51] Question: New product launches and market positioning - Management highlighted excitement around new footwear launches, including the Cloudrunner 2 and Cloudboom Strike, and emphasized the importance of apparel growth [60][62]

ON Holding (NYSE:ONON) is a top-trending ticker this morning after the company reported that its revenue had jumped 28% in the second quarter versus the same period a year earlier. The Switzerland-based firm, which is also a breakout search term today, sells athletic footwear and other sports apparel. ONON stock is up 5% today. On Holding's Q2 Results On's revenue climbed 28% last quarter versus Q2 of 2023 to 567.7 million Swiss francs. Even more impressively, its EBITDA, excluding certain items, jumped 45% ...

On Holding (ONON) came out with quarterly earnings of $0.16 per share, missing the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.04 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -15.79%. A quarter ago, it was expected that this running-shoe and apparel company would post earnings of $0.16 per share when it actually produced earnings of $0.38, delivering a surprise of 137.50%. Over the last fou ...

Exhibit 99.1 - Unaudited interim condensed consolidated balance sheets F-4 Index to unaudited interim condensed consolidated financial statements Unaudited interim condensed consolidated financial statements - Unaudited interim condensed consolidated statements of income F-2 - Unaudited interim condensed consolidated statements of comprehensive income / (loss) F-3 - Unaudited interim condensed consolidated statements of cash flows F-5 - Unaudited interim condensed consolidated statements of changes in equit ...

On Holding (ONON) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, ONON crossed above the 20-day moving average, suggesting a short-term bullish trend. A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages. ...

From a technical perspective, On Holding (ONON) is looking like an interesting pick, as it just reached a key level of support. ONON recently overtook the 50-day moving average, and this suggests a short-term bullish trend. The 50-day simple moving average is one of three major moving averages used by traders and analysts to determine support or resistance levels for a wide range of securities. But the 50-day is considered to be more important because it's the first marker of an up or down trend. Over the p ...

On Holding (ONON) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock. Shares of this running-shoe and apparel company have returned +0.9% over the past month versus the Zacks S&P 500 composite's -6.5% change. The Zacks Leisure and Recreation Products industry, to which On Holding belongs, has gained 1.4% over this period. Now the key question is: Where could the stock be headed in ...

Group 1: Royal Caribbean Cruises (RCL) - Royal Caribbean Cruises primarily serves the contemporary, premium, and deluxe segments of the cruise vacation industry [1] - The company has a Zacks Rank of 1 (Strong Buy) and has seen a 2.4% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - The PEG ratio for Royal Caribbean Cruises is 0.43, significantly lower than the industry average of 1.61, indicating strong growth potential [2] Group 2: On Holding (ONON) - On Holding provides footwear and sports apparel products, including ultralight and stretchable fabrics and accessories [2] - The company also holds a Zacks Rank of 1 and has experienced a 2.1% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - On Holding has a PEG ratio of 0.89, which is lower than the industry average of 1.04, suggesting favorable growth characteristics [3] Group 3: Skyward Specialty Insurance Group, Inc. (SKWD) - Skyward Specialty Insurance Group is engaged in underwriting commercial property and casualty insurance coverages primarily in the United States [3] - The company carries a Zacks Rank of 1 and has seen a 5.0% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [3] - The PEG ratio for Skyward Specialty Insurance Group is 0.75, compared to the industry average of 1.38, indicating strong growth potential [4]