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Johnson Outdoors Q3 Earnings Miss Estimates, Notes Margin Pressure

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…
byShivani Kumaresan
August 5, 2022
1 minute read
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  • 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.
 
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BKKT