AOUT - American Outdoor Brands slides 8% after outlook fall short of consensus revenue miss: Q3 Results
American Outdoor Brands (AOUT -7.7%) fell as the company reported revenue miss in its 3Q22 earnings result with guidance below the consensus. Revenue of $70.1M (-15.2% Y/Y) misses consensus by $2.44M. It represents the decline in traditional brick-and-mortar channel net sales. "The decline was driven by lower net sales of products within our shooting sports category, particularly those products related to personal protection, but were partially offset by growth of the products product sales in our outdoor lifestyle category," noted CEO Brian Murphy. On a two-year basis, net sales grew 61.8% over pre-pandemic third quarter of fiscal 2020, comprising of +80% growth in outdoor lifestyle category and ~45% in firearm-related shooting sports category. Sales in traditional sales channel was up 26.6%, and growth in the e-commerce channel of 122.4% vs. 3Q20. Gross margin of 45.8% was an increase of 60bps over the comparable quarter last year. Adjusted EBITDAS was $10.5 million, or 15.0% of net sales,
For further details see:
American Outdoor Brands slides 8% after outlook fall short of consensus, revenue miss: Q3 Results