Vista Outdoor Stock Gains On Strong Q1, Upbeat Q2 Outlook

  • Vista Outdoor Inc VSTO reported first-quarter FY22 sales growth of 38% year-on-year, to $662.9 million, beating the analyst consensus of $615.6 million.
  • Shooting sports sales increased 39% Y/Y to $463 million, and outdoor products sales rose 38% to $200 million.
  • Gross profit rose 92.6% Y/Y to $241.4 million, and gross profit margin improved by 1025 bps.
  • Adjusted operating expenses increased 24.4% Y/Y to $96.2 million. Adjusted operating expenses were 15 percent of sales and improved by 163 bps.
  • Adjusted EBIT for the quarter rose 203.1% Y/Y to $145.6 million.
  • Cash provided by operating activities contracted 62.8% Y/Y to $28.8 million. The company held $208.7 million in cash and equivalents as of June 27, 2021.
  • Adjusted EPS of $1.74 beat the analyst consensus of $0.90.
  • "The fiscal year 2022 is off to a terrific start with our fourth consecutive quarter of record performance due to strong demand, great execution, and a powerhouse line up of innovative outdoor products," said CEO Chris Metz.
  • Outlook: Vista sees Q2 FY22 sales of $710 million - $730 million, versus the consensus of $626.52 million.
  • The company expects EPS of $1.70 to $1.80, versus the consensus of $0.92.
  • Price action: VSTO shares are trading higher by 3.79% at $40.52 in premarket on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!