Weber Clocks 7% Sales Decline In Q2

Weber Inc WEBR reported a second-quarter FY22 sales decline of 7% year-on-year to $607.3 million, missing the consensus of $659.06 million.
Sales in the Americas decreased 18% Y/Y, EMEA rose 9%, and APAC fell 6%.
The gross profit declined 27% Y/Y to $209 million, and the profit margin contracted 940 basis points to 34.3%.
The operating margin was 6.2%, and operating income for the quarter fell 61.8% to $37.4 million.
Adjusted EBITDA of $86 million decreased 42.3% Y/Y. EPS loss was $(1.02).
Weber held $46 million in cash and equivalents as of March 31, 2022.
Weber's Board declared a cash dividend of $0.04 per share, payable in cash, on June 17, 2022, to holders of its Class A common stock on June 7, 2022.
Outlook: Weber sees FY22 sales of $1.65 billion - $1.80 billion versus the consensus of $2.09 billion.
It sees an adjusted EBITDA of $140 million - $180 million.
Price Action: WEBR shares are trading higher by 0.98% at $7.21 on the last check Monday.