On AG(US:ONON) ZACKSยท2024-11-12 13:05Company Performance - On Holding (ONON) reported quarterly earnings of $0.17 per share, missing the Zacks Consensus Estimate of $0.24 per share, and down from $0.22 per share a year ago, representing an earnings surprise of -29.17% [1] - The company posted revenues of $734.69 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 2.49%, and up from $543.85 million year-over-year [2] - Over the last four quarters, On Holding has surpassed consensus EPS estimates just once and topped consensus revenue estimates two times [2] Stock Performance - On Holding shares have increased approximately 95.4% since the beginning of the year, significantly outperforming the S&P 500's gain of 25.8% [3] - The current consensus EPS estimate for the coming quarter is $0.21 on revenues of $681.01 million, and for the current fiscal year, it is $0.98 on revenues of $2.65 billion [7] Earnings Outlook - The estimate revisions trend for On Holding is currently unfavorable, resulting in a Zacks Rank 5 (Strong Sell) for the stock, indicating expected underperformance in the near future [6] - The sustainability of the stock's immediate price movement will depend on management's commentary during the earnings call and future earnings expectations [3][4] Industry Context - The Shoes and Retail Apparel industry, to which On Holding belongs, is currently in the top 32% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]