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American Outdoor Brands Corporation ( (NASDAQ:AOBC) ) just released its latest quarterly financial results, posting adjusted earnings of 9 cents per share and revenues of $157.4 million.
Currently, AOBC is a Zacks Rank #4 (Sell), but that could change based on today’s results. The stock was halted in after-hours trading ahead of its earnings release.
American Outdoor Brands:
Beat earnings estimates. The company posted non-GAAP earnings of $0.09 per share, beating the Zacks Consensus Estimate of $0.08.
Missed revenue estimates. The company saw revenue figures of $157.38 million, missing our consensus estimate of $173.83 million.
Total revenues were down about 32.6% year over year. Non-GAAP earnings were down from $0.66 per share in the prior-year period. GAAP net income was $0.21 per diluted share, down from $0.57 per share in the previous year.
“Our results for the third quarter reflected a continuation of challenging market conditions in the consumer market for firearms,” said CEO James Debney. “Lower shipments in our Firearms business were driven by a reduction in wholesaler and retailer orders versus the prior year, and were partially offset by double-digit revenue growth within our Outdoor Products and Accessories segment.”
American Outdoor Brands expects revenues in the range of $162 million to $166 million for the current quarter. Non-GAAP earnings are expected to be in the range of $0.09 to $0.11 per share. Our current Zacks Consensus Estimates are calling for earnings of $0.35 per share and revenues of $203 million.
Here’s a graph that looks at AOBC’s recent earnings performance:
American Outdoor Brands Corporation is a manufacturer and seller of firearms and accessory products for the shooting, hunting and outdoor enthusiast. The company's product comprises pistols, revolvers, rifles, guns, handcuffs and firearm-related products and accessories. It sells its products under the brand name Smith & Wesson, M&P, Thompson/Centre and Performance Centre.
Check back later for our full analysis on AOBC’s earnings report!
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