On (ONON) reported Q2 adjusted earnings Tuesday of 0.35 Swiss francs ($0.43) per diluted share, swinging from a loss of 0.09 francs a year earlier.

Analysts polled by FactSet expected 0.34 francs.

Net sales for the quarter ended June 30 were 850.3 million francs, up from 749.2 million francs a year earlier.

Analysts polled by FactSet expected 878.4 million francs.

For 2026, The company expects net sales to grow in the low-20% range, compared with at least 23% year over year on a constant-currency basis, implying reported sales of 3.47 billion to 3.56 billion francs, compared with its prior outlook of at least 3.51 billion at current spot rates, it said.

Analysts polled by FactSet expect 3.56 billion francs.

On shares were down 15% in premarket activity.