On Holding Outperforms Q4 Expectations, Exceeds Sales of 3B Swiss Francs for Year

March 3, 2026

On Holding continued to run hotter than Wall Street expected in the fourth quarter as the Zurich-based running brand posted sales and profits that exceeded expectations.

But revenue guidance came in below expectations for 2026 and drew a lukewarm response from analysts, driving the stock down on Tuesday, albeit on a day where the overall market was in freefall.

Shares of On fell 6.9 percent to $43.54 in midday trading on Wall Street.

The company said fourth-quarter net sales rose 22.6 percent to 743.8 million Swiss francs. Analysts were expecting a 19.9 percent increase in sales. Adjusted diluted earnings per share decreased to 0.25 Swiss francs from 0.33 francs the prior year, but still came in better than the 0.21 Wall Street had projected. WOMEN’S WEAR DAILY