Johnson Outdoors Posts Mixed Q1 Results

• Johnson Outdoors Inc (NASDAQ:JOUT) reported a first-quarter FY22 sales decline of 7.3% year-on-year, to $153.52 million, missing the analyst consensus of $157.48 million.
• EPS of $1.07 beat the analyst consensus of $0.90.
• The gross margin contracted 580 basis points Y/Y to 39.5%, reflecting higher raw materials and freight costs.
• Operating expenses declined 8.9% Y/Y to $46.8 million. The operating margin was 9%, and operating income for the quarter fell 41.5% to $13.8 million.
• The company held $167.4 million in cash and equivalents as of December 31, 2021.
• "Demand for outdoor recreation products continues to be strong; managing ongoing supply chain challenges and uncertainties associated with the pandemic remain our focus in the near term as we work hard to fill demand," said CEO Helen Johnson-Leipold.
• Price Action: JOUT shares closed lower by 2.74% at $85.18 on Thursday.