Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Shivani Kumaresan

Why Johnson Outdoors Shares Are Plunging Today

JOUT Johnson Outdoors Inc Nasdaq Supply chain
  • 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.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Should You Feed Your Dog Vegetables? An Animal Nutritionist Reveals the Ultimate Pet Food Hack
A veterinary nutritionist describes why it's not necessary to feed your dog vegetables, though they can make a good treat.
Inverse
Inverse
“We walk into this music store, and the owner is making sure we didn't turn up with a lawyer – and then Robert Trujillo came in and saved the day!” The amazing story of how Jaco's Bass Of Doom made its way back to Felix Pastorius
Stolen in 1982, the bass vanished from the public eye until 2006 when it resurfaced in a New York music store
Guitar World
Guitar World
Forrest Gump at 30: a wildly popular movie that remains as light as a feather
Tom Hanks is an affecting lead but the popularity of Robert Zemeckis’s much-loved Oscar-winner is still a curious mystery
The Guardian - US
The Guardian - US
I never throw these 7 kitchen items away – this is how I reuse and repurpose them
Think twice before tossing these items in the trash and consider giving them a new purpose in your home
Homes & Gardens
Homes & Gardens
‘There is a sex crisis here. Couples stop having sex after kids’: This is how we do it in Japan
Aoi and Jiro have regular intercourse – so how did they buck what seems to be a national trend?
The Guardian - UK
The Guardian - UK
How to resolve friendship tension like Lorde and Charli XCX
Do these lyrics resonate with you? “I don’t know if you like me / Sometimes I think you might hate me / Sometimes I think I might hate you.”
The Conversation
The Conversation
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play