American Outdoor Brands Stock Slips After Q4 Results, Clocks ~29% Sales Decline

• American Outdoor Brands Inc (NASDAQ: AOUT) reported a fourth-quarter sales decline of 28.8% year-over-year to $45.89 million, beating the consensus of $45.49 million.

• The company stated that on a two-year basis, net sales grew 6.5%, reflecting growth in the traditional channel of 18%.

• Adjusted EPS was $0.14, beating the consensus of $0.10.

• The gross margin contracted by 60 bps to 43.8%. The company recorded an operating loss of $(76.68) million for the quarter, compared to a profit of $1.25 million a year ago.

• Adjusted operating income was $1.98 million (-67.9% Y/Y), and the margin contracted by 525 bps to 4.3%.

• Adjusted EBITDAS was $3.23 million (-53.6% Y/Y), and the margin declined 376 bps to 7%.

• American Outdoor used cash from the operation of $(17.95) million for FY22, compared to cash generated of $33.32 million in FY21.

• "Our cash balance, combined with the capacity on our line of credit, provided us with almost $70 million of available capital at the end of fiscal 2022. We believe our solid financial position enables us to continue executing on our long-term strategic plan, investing in our business and addressing the exciting growth opportunities we have identified for fiscal 2023 and beyond," commented Andrew Fulmer, Chief Financial Officer.

• Price Action: AOUT shares are trading lower by 0.53% at $9.37 during the post-market session on Thursday.

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