Vista Outdoor (NYSE:VSTO) stock was flying high on Thursday following the release of its earnings report for its fiscal first quarter of 2019.
During its fiscal first quarter of 2019, Vista Outdoor reported flat earnings per share. This is down from its earnings per share of 24 cents from the same time last year. However, it was still good news for VSTO stock by beating out Wall Street’s losses per share estimate of 12 cents for the quarter.
Vista Outdoor’s earnings report for its fiscal first quarter of the year also includes a net loss of $52.35 million. This is a drop from the company’s net income of $16.65 million that was reported in its fiscal first quarter of 2018.
Vista Outdoor also reported gross profit of $113.34 million for its fiscal first quarter of 2019. The manufacturer of outdoor goods reported gross profit of $146.56 million during the same period of the year prior.
Revenue reported by Vista Outdoor for its fiscal first quarter of the year came in at $528.84 million. This is a decrease from the company’s revenue of $568.75 million that was reported in its fiscal third quarter of the previous year. It also didn’t quite reach analysts’ revenue estimate of $542.61 million for the period.
Vista Outdoor also took time in its most recent earnings report to provide guidance for its fiscal full year of 2019. The company is expecting earnings per share for the year to range from 15 cents to 35 cents. Wall Street is looking for earnings per share of 22 cents for the year.
VSTO stock was up 13% as of noon Thursday and is up 9% year-to-date.
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As of this writing, William White did not hold a position in any of the aforementioned securities.