AOUT - American Outdoor Brands dives blames timing shift for earnings revenue miss

American Outdoor Brands (AOUT -2.8%) plummets as revenues were 14% lower than expected and the company missed on earnings. Net sales decreased 10.5% Y/Y due to a decline in traditional sales, offset by 5% higher e-commerce sales. Gross margin declined 20 bps to 46.7% "While our total net sales declined in the quarter, we believe this primarily reflects the timing of orders from our traditional channel customers," said CEO Brian Murphy. "In our second quarter last year, certain customers increased their orders to address depleted inventories following COVID-related closures.  This year, many of our largest customers indicated that they accelerated their orders into our first quarter to mitigate supply chain concerns." Narrows FY2022 guidance: Net sales are expected to be between $280M and $285M vs prior guidance of $280M-$295M and consensus of $294M. Adjusted EPS are projected to $2.02-$2.21 vs prior guidance of $2.02-$2.26 and consensus of $2.15. Wall Street was

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American Outdoor Brands dives, blames timing shift for earnings, revenue miss