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Benzinga
Benzinga
Business
Shivani Kumaresan

Johnson Outdoors Posts Mixed Q1 Results

JOUT Johnson Outdoors Inc
  • 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.
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