On Holding Shares Slide Despite Record Q3 Sales as Tariff Refund Clouds Profit Beat

On Holding AG reported record third-quarter net sales of CHF 931.4 million on November 10, up 17.2% year-over-year and roughly in line with analyst estimates, but shares fell as much as 8.9% in premarket trading after investors identified that a one-off CHF 52.6 million U.S. tariff refund flattered the profit figures. Gross margin came in at 72.6% for the quarter, or 66.9% excluding the refund, compared with 65.7% a year earlier. The Swiss sportswear company raised its full-year gross margin outlook to around 66% excluding the refund, up from its prior guidance of at least 65%, but left its full-year net sales growth forecast unchanged at a low-20% range on a constant-currency basis, implying revenue of CHF 3.47 billion to CHF 3.56 billion. Apparel revenue jumped 39% in the quarter, and net income reached $180.9 million, or $0.59 per share, with adjusted EPS of $0.66 beating the consensus of $0.50.

StubHub was another notable mover, falling after reporting Q3 revenue of $501.95 million, missing the consensus by $12.06 million, with GAAP EPS of $0.05 that also missed estimates by $0.05. The company partially offset the disappointment by raising its full-year gross merchandise sales outlook to $10.1 billion to $10.3 billion, up from its prior range of $9.9 billion to $10.1 billion, while holding its adjusted EBITDA guidance steady at $400 million to $420 million.

Elsewhere across a busy earnings day, Resideo Technologies posted Non-GAAP EPS of $0.52, beating by $0.12, on revenue of $727 million that exceeded estimates by $13 million. Alcon reported Non-GAAP EPS of $0.91, edging past estimates by $0.02, though revenue of $2.7 billion fell $40 million short. Fossil Group delivered a substantial earnings surprise with Non-GAAP EPS of $0.23 beating by $0.31, while revenue of $271.2 million topped estimates by $22.54 million. Astronics reported Non-GAAP EPS of $0.81, beating by $0.09, on revenue of $271.7 million that exceeded forecasts by $3.63 million. On the downside, BrightView missed on both lines, with Non-GAAP EPS of $0.18 falling $0.08 short and revenue of $677.3 million missing by $46.26 million. QT Imaging posted a sharp after-hours drop after revenue of $7.34 million missed estimates by $3.45 million, while Gevo beat Q3 estimates and raised its full-year outlook.