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- Johnson Outdoors Inc (NASDAQ:JOUT) reported a second-quarter FY22 sales decline of 8% year-on-year to $189.62 million, missing the consensus of $202.32 million.
- EPS of $0.97 missed the analyst consensus of $1.85.
- The gross margin contracted 903 basis points Y/Y to 36.2%, primarily due to increased materials and inbound freight costs driven by supply chain dynamics.
- Operating expenses rose 7.1% Y/Y to $53.2 million. The operating margin was 8.1%, and operating income for the quarter fell 57.2% to $15.4 million.
- The company held $113.2 million in cash and equivalents as of April 1, 2022.
- "During this time, we expect margins will continue to be impacted by pressure caused by the supply chain and related inflationary trends everyone is seeing in the marketplace," said CFO David W. Johnson.
- Price Action: JOUT shares are trading lower by 18.9% at $61.02 on the last check Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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