American Outdoor Brands Stock Rockets Higher on Q1 Earnings Beat
American Outdoor Brands (NASDAQ:AOBC) stock was flying high on Friday following the release of its earnings report for its fiscal first quarter of 2019.
Source: American Outdoor Brands
During its fiscal first quarter of 2019, American Outdoor Brands reported earnings per share of 21 cents. This is better than the company’s earnings per share of 2 cents from the same period of the year prior. It was also good news for AOBC stock by beating out Wall Street’s earnings per share estimate of 12 cents for the quarter.
American Outdoor Brands also reported net income of $7.65 million for its fiscal first quarter of the year. This is an increase over the company’s net loss of $2.17 million that was reported in its fiscal first quarter of 2018.
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Operating income reported by American Outdoor Brands for its fiscal first quarter of 2019 came in at $13.48 million. The firearms and outdoor merchandise manufacturer reported an operating loss of $3.20 million during the same time last year.
American Outdoor Brands’ earnings report for its fiscal first quarter of the year also includes revenue of $138.83 million. This is up from the company’s revenue of $129.02 million reported in its fiscal first quarter of the previous year. It is also a boon to AOBC stock by coming in above analysts’ revenue estimate of $134.50 million for the quarter.
American Outdoor Brands also took time in its most recent earnings report to provide its outlook for fiscal 2019. The company is expecting earnings per share between 62 cents and 66 cents on revenue ranging from $620.00 million to $630.00 million for fiscal 2019. Wall Street is looking for earnings per share of 50 cents on revenue of $597.03 million for the year.
AOBC stock was up 40% as of Friday morning, but is down 26% year-to-date.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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