On Running Reports Strong 2023 Growth but Misses Q4 Expectations

Despite a positive year with significant sales increases, On Running's Q4 earnings fell short, leading to a premarket stock drop.

On Running reported a 55% increase in net sales for 2023, reaching $2.04 billion USD, with a net income of $90.6 million USD.
Despite positive growth, the company's Q4 earnings fell short of analyst expectations, with a quarterly loss of 6 cents per share.
On Holding's net sales for 2023 hit 1.8 billion Swiss francs, a 46.6% increase over the previous year.
The company expects a net sales growth rate of at least 30% for 2024, targeting 2.25 billion Swiss francs.
On Running's stock plummeted 16.6% premarket Tuesday after the earnings miss, but the brand remains optimistic about future growth and product launches.