American Outdoor Brands beats by $0.11, reports revs in-line; guides Q4 EPS and rev below consensus -- cuts FY17 outlook as sales cooled late in the quarter and into Q4:
- Reports Q3 (Jan) earnings of $0.66 per share, excluding non-recurring items, $0.11 better than the Capital IQ Consensus of $0.55; revenues rose 10.8% year/year to $233.5 mln vs the $235.06 mln Capital IQ Consensus.
- Co issues downside guidance for Q4, sees EPS of $0.32-0.42, excluding non-recurring items, vs. $0.57 Capital IQ Consensus Estimate; sees Q4 revs of $200-220 mln vs. $243.91 mln Capital IQ Consensus Estimate.
- Lowers EPS to $2.33-2.43 from $2.42-2.47, excluding non-recurring items, vs. $2.43 Capital IQ Consensus; revs to $874-894 mln from $920-320 mln vs. $919.46 mln Capital IQ Consensus Estimate.
- "Toward the end of the quarter, consumer firearm purchasing began to cool -- a trend that underscores the importance of remaining focused on our strategy to continue growing and balancing our business across the shooting, hunting, and rugged outdoor enthusiast markets. In our Firearms segment, we attended the SHOT Show in January where we launched our next generation, full size M&P M2.0 pistol, significantly strengthening our growing family of innovative polymer pistols. Higher year-over-year revenue in the Outdoor Products & Accessories segment was driven largely by our acquisitions of Taylor Brands, LLC, Crimson Trace Corporation, and UST, all of which occurred in the current fiscal year, combined with organic segment revenue growth of 4.8%... During our third quarter, strong November results more than offset late-quarter declines in both NICS background checks and firearm product shipments. That late quarter shift in consumer demand patterns has since carried forward into our fiscal fourth quarter. Accordingly, we have updated our full year guidance."
- Peer: RGR
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