- Johnson Outdoors Inc (NASDAQ:JOUT) reported a third-quarter FY22 sales decline of 5% year-on-year to $203.82 million, narrowly missing the consensus of $203.99 million.
- EPS of $1.38 missed the analyst consensus of $1.78.
- The gross margin contracted 960 basis points Y/Y to 36.1%, primarily due to increased materials costs driven by supply chain dynamics.
- Operating expenses fell 16.3% Y/Y to $49.7 million. The operating margin was 11.7%, and operating income for the quarter fell 37.5% to $23.7 million.
- The company held $117.6 million in cash and equivalents as of July 1, 2022.
- “Managing ongoing global supply chain challenges, particularly in our Fishing business, remains our chief focus as we prioritize maximizing product build and shipments to customers,” said Chairman & CEO Helen Johnson-Leipold.
- Price Action: JOUT shares are trading lower by 2.02% at $66.32 on the last check Friday.
Stagwell Adds 19 Partners In Asia And Europe To Global Affiliate Network
New affiliates rapidly scale global content and media capabilities while adding specialty expertise in fast-growing experiential, events, and gaming categories
NEW YORK and SINGAPORE, Sept. 20,
