Johnson Outdoors Reports Q4 Earnings Above Street View
Johnson Outdoors Inc (NASDAQ: JOUT) reported fourth-quarter FY22 sales growth of 18% year-on-year to $196.39 million, beating the consensus of $168.57 million.
EPS of $0.95 beat the analyst consensus of $0.37.
Gross margin contracted 620 basis points Y/Y to 34.9%, primarily due to increased material costs and inventory reserves.
Operating expenses rose 1% Y/Y to $55.3 million. The operating margin was 6.8%, and operating income for the quarter fell 2% to $13.3 million.
The company held $129.8 million in cash and equivalents as of September 30, 2022.
“While we have seen improvement in the supply chain for raw materials and purchased components, we do expect some supply chain constraints to periodically occur during fiscal 2023 and for our margins to continue to be impacted by inflationary pricing conditions," said CFO David W. Johnson.
Price Action: JOUT shares closed higher by 1.39% at $57.44 on Thursday.
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