Johnson Outdoors Q1 sales down 22% to $138.6M; EPS $0.38 vs $0.57

JOHNSON OUTDOORS INC

Net sales $138.6M, down 22% YoY; diluted EPS $0.38 vs $0.57; operating profit ~$0.05M vs $5.5M.
Fishing sales down ~20% on high retail inventories and lower demand; Camping down 49% (half from sale of Military/Commercial tents).
Diving sales down 8% (6% FX headwind); Watercraft Recreation down 50% on reduced market demand.
Gross margin improved to 38.1% from 35.2% on lower material costs and freight; cash $114.2M, up $10.8M YoY.
Company cites tough marketplace, high retail inventories; focusing on cost savings and inventory management.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

JOHNSON OUTDOORS INC reported first fiscal quarter ended December 29, 2023 results: revenue $138.6 million, net income $4.0 million, EPS $0.38 per diluted share.

Period: first fiscal quarter ended December 29, 2023
Revenue: $138.6 million
Net income: $4.0 million
EPS: $0.38 per diluted share
Result: reported results

Exact text from the filing

on investing in innovation and marketing to position our brands for success.” FIRST QUARTER RESULTS Total Company net sales in the first quarter declined 22 percent to $138.6 million compared to $178.3 million in the prior year first fiscal quarter. Key contributing factors include: Fishing sales declined by approximately 20 percent driven by high retail

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Source: SEC EDGAR

accession 0001171843-24-000536

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