Here's What to Expect From Johnson Outdoors' (JOUT) Q1 Earnings
Johnson Outdoors Inc. JOUT is scheduled to report first-quarter fiscal 2024 results on Feb 2, before market open.
In the last reported quarter, the company’s earnings and net sales missed the Zacks Consensus Estimate by 387.5% and 20.4%, respectively. Also, the metrics declined on a year-over-year basis.
The Trend in Estimate Revision
For the quarter to be reported, the Zacks Consensus Estimate for earnings per share remained unchanged at 15 cents in the past seven days. The estimated figure indicates a 73.7% decline from the year-ago quarter’s levels.
Johnson Outdoors Inc. Price and EPS Surprise
Johnson Outdoors Inc. price-eps-surprise | Johnson Outdoors Inc. Quote
The consensus mark for net sales is pegged at $140.4 million, suggesting a 21.3% decline from the year-ago reported figure of $178.3 million.
Key Factors to Note
Johnson Outdoors’ fiscal first-quarter net sales are likely to decline year over year due to moderating pandemic-driven demand and elevated retail inventories impacting the Camping and Watercraft Recreation business.
The company's bottom line is likely to have been affected by deferred compensation expenses related to marketing plan assets to market. Elevated warranty expenses and professional services costs are a concern as well.
Nonetheless, JOUT is focused on strengthening its operating margins through an active cost-saving program and prudent expense management. This and the emphasis on new product introduction is expected to have partially offset the adverse impact of these headwinds.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Johnson Outdoors this time. That is because a stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. This is not the case here, as elaborated below.
Earnings ESP: The company has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: JOUT carries a Zacks Rank #5 (Strong Sell). You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks Poised to Beat on Earnings
Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider, as our model shows that these have the right combination of elements to post an earnings beat:
MGM Resorts International MGM has an Earnings ESP of +14.99% and a Zacks Rank #3.
Shares of MGM Resorts have increased 5.9% in the past year. MGM’s earnings beat estimates in each of the trailing four quarters, the average surprise being 292.7%.
Boyd Gaming Corporation BYD has an Earnings ESP of +1.10% and a Zacks Rank #3.
Shares of Boyd Gaming have gained 3.7% in the past year. BYD’s earnings beat estimates in three of the trailing four quarters and missed once, the average surprise being 6.9%.
Hasbro, Inc. HAS has an Earnings ESP of +5.05% and a Zacks Rank #3.
Hasbro’s shares have declined 13.1% in the past year. HAS’ earnings beat estimates in two of the trailing four quarters and missed twice, the negative surprise being 22.4%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Hasbro, Inc. (HAS) : Free Stock Analysis Report
MGM Resorts International (MGM) : Free Stock Analysis Report
Boyd Gaming Corporation (BYD) : Free Stock Analysis Report
Johnson Outdoors Inc. (JOUT) : Free Stock Analysis Report
