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Vista Outdoor plunges 27% after slashing outlook

Published 11/09/2017, 09:09 AM
© Reuters.  Vista Outdoor plunges 27% after slashing outlook
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  • FQ2 sales of $587M fell 16% Y/Y on an organic basis. Adjusted EPS of $0.34 fell from $0.74, but topped estimates by $0.07.
  • CFO Stephen Nolan takes note of the competitive environment, with ongoing promotions and high inventory contributing to a "challenging quarter."
  • The company is divesting two brands within its Sports Protection business, and Shooting Sports president Bob Keller is exiting.
  • Full-year EPS is now seen at $0.50-$0.60 vs. $1.10-$1.30 previously. Revenue is cut to $2.24B-$2.26B from $2.36B-$2.42B.
  • Conference call is just underway.
  • VSTO -27%
  • Other gun-related names to watch: Cabelas (NYSE:CAB), Olin (NYSE:OLN), Sturm Ruger (NYSE:RGR), American Outdoor (NASDAQ:AOBC), Sportsman's Warehouse (NASDAQ:SPWH).
  • Previously: Vista Outdoor beats by $0.07, misses on revenue (Nov. 9)
  • Now read: October NICS Data - Gun Sales Failed The Test


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