AOUT - Why Shares of American Outdoor Brands Rose on Thursday
American Outdoor Brands (NASDAQ: AOUT) closed Thursday up 12% after the outdoor recreation equipment maker reported better-than-expected quarterly results.
After markets closed Wednesday American Outdoor Brands reported fiscal third-quarter adjusted earnings of $0.82 per share on revenue of $82.6 million. That was well above the consensus estimate of $0.36 in earnings on revenue of $59 million.
Often when you see that sort of a beat relative to expectations, there was a special one-time item driving the performance, but in this case it appears demand for American Outdoor Brands' hunting, fishing, camping, and security products simply was a lot higher than analysts, or the company, had expected.
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Why Shares of American Outdoor Brands Rose on Thursday