On Holding records Q3 revenue of $1.15B, up 17.2%
Key points
- On Holding reported third-quarter 2026 net sales of CHF931.4 million, up 17.2% year-over-year, equivalent to approximately US$1.1 billion.
- Net income increased 36.9% to CHF162.8 million, while gross profit margin expanded to 72.6% from 65.7%.
- Performance running shoes, lifestyle footwear and apparel supported sales, with women's apparel outperforming men's by 38.7%, aided by the Zendaya collection.
On Holding AG (NYSE:ONON) reported third-quarter 2026 revenue of CHF931.4 million, approximately US$1.15 billion, up 17.2% year-over-year, while net income increased 36.9% to CHF162.8 million.
The results exceeded analyst expectations, with adjusted earnings of US$0.66 per share beating the US$0.50 estimate, while revenue topped the US$1.14 billion forecast.
Sales increased from CHF850.3 million in the second quarter, when the company reported 21.6% constant-currency growth and deliberately restricted wholesale shipments to protect full-price brand positioning.
Growth was supported by performance running products, including Cloudsurfer 3, lifestyle footwear such as Cloudtilt, and apparel, with women's apparel growth outpacing men's by 38.7%, supported by the Zendaya collection.
Gross profit increased 29.5% to CHF676 million, while gross profit margin expanded to 72.6% from 65.7% in the prior-year quarter.
The company's previous-quarter strategy included managing wholesale sales to protect pricing and brand positioning, while expanding its direct-to-consumer business and product offerings.
On Holding sells performance footwear, apparel and accessories through wholesale and direct-to-consumer channels across the Americas, Europe, the Middle East, Africa and Asia-Pacific markets.
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