On Holding (ONON) reported Q1 adjusted earnings Tuesday of 0.21 Swiss francs ($0.25) per diluted class A share, down from 0.33 francs a year earlier.

Analysts polled by FactSet expected 0.22 francs.

Net sales for the quarter ended March 31 were 726.6 million francs, up from 508.2 million francs a year earlier.

Analysts surveyed by FactSet expected 680.7 million francs.

The company said it now expects at least 28% net sales growth on a constant currency basis for the full year, compared with its previous growth outlook of at least 27%.

On shares were down 1.5% in recent premarket activity.