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Sportsman's Warehouse Holdings, Inc. (SPWH)

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Previous Close13.42
Open13.47
Bid7.00 x 3200
Ask0.00 x 4000
Day's Range13.27 - 14.16
52 Week Range4.08 - 18.46
Volume739,650
Avg. Volume1,098,493
Market Cap615.735M
Beta (5Y Monthly)0.83
PE Ratio (TTM)12.13
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • GlobeNewswire

    Sportsman’s Warehouse Arrives in Chambersburg, PA

    New store brings jobs, seminars and family fun to local communityWEST JORDAN, Utah, Sept. 14, 2020 (GLOBE NEWSWIRE) -- Sportsman’s Warehouse Holdings, Inc. (Nasdaq: SPWH), www.sportsmans.com, announced today that it plans to open a new store in Chambersburg, Pennsylvania this month with a grand opening celebration to be held September 24-26 from 9:00 a.m. until 9:00 p.m. With locations in Altoona, Camp Hill and Washington, this will be the fourth Sportsman’s Warehouse store in Pennsylvania. The new store is located at 3285 Black Gap Road, Chambersburg, Pennsylvania 17202. Shoppers will find over 60,000 region-specific items at everyday low prices including quality, brand-name hunting, fishing, camping, shooting, apparel and footwear merchandise.“We invite everyone to enjoy a weekend of giveaways, special discounts, kid-friendly outdoor activities, and more,” states Josiah Tracey, Sportsman’s Warehouse Chambersburg Store Manager. “During the Grand Opening Celebration, customers can try firearms and ammunition for free in the mobile shooting range from 9:00 a.m. until 5:00 p.m. It’s a fun and safe way to experience something new with free eye and ear protection, experts to answer questions and all of the appropriate safety procedures in place.”Like all Sportsman’s Warehouse locations, the Chambersburg store follows a strict regimen of cleaning, sanitizing and social distancing to ensure the health and safety of associates, customers and their families.“We look forward to being an important part of the Chambersburg community,” states Jon Barker, Sportsman’s Warehouse CEO. “Now, locals can access exceptional service from our knowledgeable staff, high-quality products, exciting career opportunities, and special events in a safe environment where they can relax, enjoy the great outdoors and have fun with the entire family.”For more information about this event and Sportsman’s Warehouse, visit www.sportsmans.com. About Sportsman’s Warehouse Holdings, Inc. Sportsman’s Warehouse Holdings, Inc. is an outdoor specialty retailer focused on meeting the needs of the seasoned outdoor veteran, the first-time participant, and everyone in between. We provide outstanding gear and exceptional service to inspire outdoor memories. For more information, visit www.sportsmans.com.Media Contact: Melanie Rembrandt, Rembrandt Communications, 800-771-0116

  • GlobeNewswire

    Sportsman's Warehouse Holdings, Inc. to Present at Lake Street’s 4th Annual Best Ideas Growth (Big4) Virtual Conference

    WEST JORDAN, Utah, Sept. 14, 2020 (GLOBE NEWSWIRE) -- Sportsman's Warehouse Holdings, Inc. ("Sportsman's Warehouse" or the “Company”) (Nasdaq: SPWH) today announced that the Company has been invited to participate in Lake Street’s 4th annual Best Ideas Growth (Big4) Conference, being held on Thursday, September 17, 2020 on a virtual platform. Sportsman’s Warehouse management is scheduled to meet with investors via one-on-one and group meetings throughout the day.About Sportsman's Warehouse Holdings, Inc.Sportsman’s Warehouse Holdings, Inc. is an outdoor specialty retailer focused on meeting the needs of the seasoned outdoor veteran, the first-time participant, and everyone in between. We provide outstanding gear and exceptional service to inspire outdoor memories.For press releases and certain additional information about the Company, visit the Investor Relations section of the Company's website at www.sportsmans.com. Investor Contacts: Robert Julian, Chief Financial Officer Caitlin Howe, Vice President, Corporate Development & Investor Relations (801) 566-6681 investors@sportsmans.com

  • GlobeNewswire

    Sportsman's Warehouse Holdings, Inc. Announces Second Quarter and First Half 2020 Financial Results

    WEST JORDAN, Utah, Sept. 02, 2020 (GLOBE NEWSWIRE) -- Sportsman's Warehouse Holdings, Inc. ("Sportsman's Warehouse" or the “Company”) (Nasdaq: SPWH) today announced financial results for the thirteen and twenty-six weeks ended August 1, 2020. “The second quarter was record-breaking for Sportsman’s Warehouse. I am very proud of the Sportsman’s Warehouse team as they worked to keep our associates and customers safe during this sustained surge in our business,” said Jon Barker, Sportsman’s Warehouse CEO. “Same store sales were up 61% in the second quarter of 2020 as compared to the same period last year, primarily due to market share gains, a significant increase in participants in outdoor activities, and social unrest.”Mr. Barker continued, “We are very pleased with the growth of our ecommerce-driven business, which increased over 300% for the quarter versus prior year. We are also highly encouraged by the strong start of our new small-format store in Laramie, Wyoming that opened at the beginning of August. We believe this concept will facilitate our ability to profitably penetrate many small and mid-sized markets across the country.”“Thanks to the strong financial performance of our business so far this year, we paid down a significant portion of our debt and ended the second quarter nearly debt-free. We see our financial flexibility as a competitive advantage enabling us to invest for long-term growth and profitability.”For the thirteen weeks ended August 1, 2020: * Net sales were $381.0 million, an increase of $169.2 million, or 79.9%, as compared to the second quarter of fiscal year 2019. The net sales increase was primarily due to a surge in demand across all major categories, led by our hunting and shooting category, as well as strong growth in our eCommerce platform compared to the prior year period.   * Same store sales increased 61.0% during the second quarter of 2020 compared to the second quarter of 2019.   * Gross profit was $129.1 million or 33.9% of net sales, as compared to $73.2 million or 34.6% of net sales in the comparable prior year period, a year-over-year increase of $55.9 million in gross profit and a 70-basis point decrease in gross profit margin.   * Net income was $32.5 million compared to net income of $5.5 million in the second quarter of 2019. Adjusted net income was $33.6 million compared to adjusted net income of $5.7 million in the second quarter of 2019 (see “GAAP and Non-GAAP Measures”).   * Adjusted EBITDA was $53.6 million compared to $15.8 million in the comparable prior year period (see "GAAP and Non-GAAP Measures").   * Diluted earnings per share were $0.73 compared to a diluted earnings per share of $0.13 in the comparable prior year period. Adjusted diluted earnings per share were $0.76 compared to adjusted diluted earnings per share of $0.13 for the comparable prior year period (see "GAAP and Non-GAAP Measures").For the twenty-six weeks ended August 1, 2020: * Net sales were $627.8 million, an increase of $242.0 million, or 62.7%, as compared to the first half of fiscal year 2019. The net sales increase was primarily due to a surge in demand across all major categories, led by our hunting and shooting category, as well as strong growth in our eCommerce platform compared to the prior year period.   * Same store sales increased 46.5% during the first half of 2020 compared to the first half of 2019.   * Gross profit was $203.9 million or 32.5% of net sales, as compared to $127.4 million or 33.0% of net sales for the comparable prior year period, a year-over-year increase of $76.5 million in gross profit and a 60-basis point decrease in gross profit margin.   * Net income was $31.3 million compared to net income of $0.0 million in the first half of 2019. Adjusted net income was $34.0 million compared to adjusted net income of $0.5 million in the first half of 2019 (see “GAAP and Non-GAAP Measures”).   * Adjusted EBITDA was $61.8 million compared to $16.2 million in the first half of 2019 (see "GAAP and Non-GAAP Measures").   * Diluted earnings per share were $0.71 for the twenty-six weeks ended August 1, 2020 compared to diluted earnings per share of $0.00 for the same period last year. Adjusted diluted earnings per share were $0.77 for the twenty-six weeks ended August 1, 2020 compared to adjusted diluted earnings per share of $0.01 for the same period last year (see "GAAP and Non-GAAP Measures").Balance sheet highlights as of August 1, 2020: * Total net debt was $6.5 million, consisting of $12.3 million in cash on hand, $2.9 million outstanding under the Company’s revolving credit facility, and $15.9 million outstanding under the term loan, net of unamortized debt issuance costs. This is a reduction of $150.9 million of net debt year-over-year.   * Total liquidity was $183.5 million as of the end of the second quarter of 2020, comprised of $171.2 million of availability on the revolving credit facility and $12.3 million of cash, as compared to $52.9 million in total liquidity at the end of the second quarter of 2019.Third Quarter and Fiscal Year 2020 Outlook:We will not be issuing forward guidance at this time.Conference Call Information:A conference call to discuss second quarter and first half of 2020 financial results is scheduled for today, September 2, 2020, at 4:30 PM Eastern Time. The conference call will be webcast and may be accessed via the Investor Relations section of the Company’s website at www.sportsmans.com.Non-GAAP InformationThis press release includes the following financial measures defined as non-GAAP financial measures by the Securities and Exchange Commission (the “SEC”): adjusted income (loss) from operations, adjusted net income (loss), adjusted diluted earnings (loss) per share and Adjusted EBITDA. We define adjusted income (loss) from operations and adjusted net income (loss) as income (loss) from operations and net income (loss), respectively, in each case, plus expenses incurred relating to bonuses and increased wages paid to front-line  and non-executive back office associates due to COVID-19, costs incurred for the recruitment and hiring of key members of management, certain expenses incurred relating to the acquisition of Field and Stream stores, tax benefits recognized, and the costs and impairments recorded relating to the closure of one store during the first quarter of 2020, as applicable. We define adjusted diluted earnings (loss) per share as diluted earnings (loss) per share excluding the impact of expenses incurred related to the bonuses and increased wages paid to front-line and non-executive back office associates due to COVID-19, expenses incurred relating to the recruitment and hiring of key members of management, certain expenses incurred relating to the acquisition of Field and Stream stores, and the costs and impairments recorded relating to the closure of one store during the first quarter of 2020, as applicable. We define Adjusted EBITDA as net income (loss) plus interest expense, income tax (benefit) expense, depreciation and amortization, stock-based compensation expense, bonuses and increased wages paid to front-line and non-executive back office associates due to COVID-19, pre-opening expenses, and other gains, losses and expenses that we do not believe are indicative of our ongoing expenses. The Company has reconciled these non-GAAP financial measures with the most directly comparable GAAP financial measures under “GAAP and Non-GAAP Measures” in this release. The Company believes that these non-GAAP financial measures not only provide its management with comparable financial data for internal financial analysis but also provide meaningful supplemental information to investors. Specifically, these non-GAAP financial measures allow investors to better understand the performance of the Company’s business and facilitate a more meaningful comparison of its diluted earnings per share and actual results on a period-over-period basis. The Company has provided this information as a means to evaluate the results of its ongoing operations. Other companies in the Company’s industry may calculate these items differently than the Company does. Each of these measures is not a measure of performance under GAAP and should not be considered as a substitute for the most directly comparable financial measures prepared in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company’s results as reported under GAAP.Forward-Looking Statements  This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Forward-looking statements in this release include, but are not limited to, statements regarding the expected our ability to profitably penetrate small and mid-sized markets and our ability to invest in long-term growth and profitability. Investors can identify these statements by the fact that they use words such as "continue", "expect", "may", “opportunity”, "plan", "future", “ahead” and similar terms and phrases. The Company cannot assure investors that future developments affecting the Company will be those that it has anticipated. Actual results may differ materially from these expectations due to many factors including, but not limited to: the potential effects of COVID-19 and measures intended to reduce its spread on our operations; the Company’s retail-based business model; general economic, market and other conditions and changes in consumer spending; the Company’s concentration of stores in the Western United States; competition in the outdoor activities and specialty retail market; changes in consumer demands; the Company’s expansion into new markets and planned growth; current and future government regulations; risks related to the Company’s continued retention of its key management; the Company’s distribution center; quality or safety concerns about the Company’s merchandise; events that may affect the Company’s vendors; trade restrictions; public health crises and social unrest; and other factors that are set forth in the Company's filings with the SEC, including under the caption “Risk Factors” in the Company’s Form 10-K for the fiscal year ended February 1, 2020 which was filed with the SEC on April 9, 2020, and the Company’s other public filings made with the SEC and available at www.sec.gov. If one or more of these risks or uncertainties materialize, or if any of the Company’s assumptions prove incorrect, the Company’s actual results may vary in material respects from those projected in these forward-looking statements. Any forward-looking statement made by the Company in this release speaks only as of the date on which the Company makes it. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.About Sportsman's Warehouse Holdings, Inc.Sportsman’s Warehouse Holdings, Inc. is an outdoor specialty retailer focused on meeting the needs of the seasoned outdoor veteran, the first-time participant, and everyone in between. We provide outstanding gear and exceptional service to inspire outdoor memories.For press releases and certain additional information about the Company, visit the Investor Relations section of the Company's website at www.sportsmans.com. Investor Contacts: Robert Julian, Chief Financial Officer Caitlin Howe, Vice President, Corporate Development & Investor Relations (801) 566-6681 investors@sportsmans.com           SPORTSMAN’S WAREHOUSE HOLDINGS, INC. Condensed Consolidated Statements of Loss (Unaudited) (in thousands, except per share data)                      For the Thirteen Weeks Ended             August 1, 2020 % of net sales August 3, 2019 % of net sales            Net sales$380,989 100.0% $211,766 100.0%  Cost of goods sold 251,896 66.1%  138,544 65.4%  Gross profit 129,093 33.9%  73,222 34.6%            Operating expenses:         Selling, general and administrative expenses 83,606 21.9%  63,460 30.0%  Income from operations 45,487 12.0%  9,762 4.6%  Interest expense 1,017 0.3%  2,353 1.1%  Income before income tax expense 44,470 11.7%  7,409 3.5%  Income tax expense 12,009 3.2%  1,911 0.9%  Net income$32,461 8.5% $5,498 2.6%            Earnings per share         Basic$0.75   $0.13    Diluted$0.73   $0.13              Weighted average shares outstanding         Basic 43,537    43,130    Diluted 44,368    43,155              SPORTSMAN’S WAREHOUSE HOLDINGS, INC. Condensed Consolidated Statements of Income (Unaudited) (in thousands, except per share data)                      For the Twenty-six Weeks Ended             August 1, 2020 % of net sales August 3, 2019 % of net sales            Net sales$627,824 100.0% $385,783  100.0%  Cost of goods sold 423,957 67.5%  258,388  67.0%  Gross profit 203,867 32.5%  127,395  33.0%            Operating expenses:         Selling, general and administrative expenses 158,825 25.3%  122,990  31.9%  Income from operations 45,042 7.2%  4,405  1.1%  Interest expense 2,551 0.4%  4,458  1.2%  Income (loss) before income tax expense 42,491 6.8%  (53) (0.1%)  Income tax expense (benefit) 11,160 1.8%  (92) 0.0%  Net Income$31,331 5.0% $39  (0.1%)            Earnings per share         Basic$0.72   $0.00     Diluted$0.71   $0.00               Weighted average shares outstanding         Basic 43,430    43,065     Diluted 44,098    43,090           SPORTSMAN’S WAREHOUSE HOLDINGS, INC. Condensed Consolidated Balance Sheets (Unaudited) (in thousands)             Assets      August 1, 2020 February 1, 2020  Current assets:     Cash$12,288 $1,685  Accounts receivable, net 551  904  Merchandise inventories 296,765  275,505  Income tax receivable -  812  Prepaid expenses and other 16,469  12,732  Total current assets 326,073  291,638  Operating lease right of use asset 223,602  224,520  Property and equipment, net 95,402  98,767  Goodwill 1,496  1,496  Definite lived intangible assets, net 207  220  Total assets$646,780 $616,641        Liabilities and Stockholders’ Equity     Current liabilities:     Accounts payable$128,054 $38,157  Accrued expenses 98,764  70,118  Operating lease liability, current 35,854  34,487  Income taxes payable 7,291  -  Revolving line of credit 2,858  116,078  Current portion of long-term debt, net of discount and debt issuance costs -  5,936  Total current liabilities 272,821  264,776        Long-term liabilities:     Long-term debt, net of discount, debt issuance costs, and current portion 15,901  23,781  Deferred income taxes 3,470  562  Operating lease liability, noncurrent 211,851  217,254  Total long-term liabilities 231,222  241,597  Total liabilities 504,043  506,373        Stockholders’ equity:     Common stock 436  433  Additional paid-in capital 87,941  86,806  Accumulated earnings 54,360  23,029  Total stockholders’ equity 142,737  110,268  Total liabilities and stockholders' equity$646,780 $616,641                    SPORTSMAN’S WAREHOUSE HOLDINGS, INC. Condensed Consolidated Statements of Cash Flows (Unaudited) (in thousands)        August 1, 2020 August 3, 2019  CASH FLOWS FROM OPERATING ACTIVITIES     Net income$31,331  $39   Adjustments to reconcile net income to net cash provided by operating activities:     Depreciation and amortization 10,670   9,245   Amortization of discount on debt and deferred financing fees 311   170   Amortization of Intangible assets 10   13   Loss (gain) on asset dispositions 803   (311)  Noncash operating lease expense 13,787   14,002   Deferred income taxes 2,908   307   Stock based compensation 1,554   948   Change in assets and liabilities, net of amounts acquired:     Accounts receivable, net 353   10   Operating lease liabilities (15,807)  (14,895)  Merchandise inventory (16,943)  (12,710)  Prepaid expenses and other (3,863)  634   Accounts payable 87,665   39,040   Accrued expenses 24,866   1,860   Income taxes payable and receivable 8,103   (2,918)  Net cash provided by operating activities 145,748   35,434         CASH FLOWS FROM INVESTING ACTIVITIES:     Purchase of property and equipment, net of amounts acquired (8,579)  (14,761)  Acquisition of Field and Stream stores, net of cash acquired (3,444)  -   Proceeds from sale of property and equipment -   311   Net cash used in investing activities (12,023)  (14,450)        CASH FLOWS FROM FINANCING ACTIVITIES:     Net (payments) borrowings on line of credit (113,220)  (17,180)  (Decrease) Increase in book overdraft 4,512   319   Proceeds from issuance of common stock per employee stock purchase plan 273   174   Payment of withholdings on restricted stock units (687)  (369)  Principal payments on long-term debt (14,000)  (4,000)  Net cash used in financing activities (123,122)  (21,056)        Net change in cash 10,603   (72)  Cash at beginning of year 1,685   1,547   Cash at end of period$12,288  $1,475                               SPORTSMAN’S WAREHOUSE HOLDINGS, INC.  GAAP and Non-GAAP Measures (Unaudited)  (in thousands, except per share data)             Reconciliation of GAAP income from operations to adjusted income from operations:                   For the Thirteen Weeks Ended For the Twenty-six Weeks Ended    August 1, 2020 August 3, 2019 August 1, 2020 August 3, 2019  Income from operations$45,487  $9,762  $45,042  $4,405   Acquisition costs (1) 6   -  $35  $-   Hazard pay (2) 1,500   -   2,600   -   Store closing write-off (3) -   -   1,039   -   Executive transition costs (4) -   266   -   623   Adjusted income from operations$46,993  $10,028  $48,716  $5,028              Reconciliation of GAAP net income and GAAP dilutive earnings per share      to adjusted net income and adjusted diluted earnings per share:                   Numerator:          Net income$32,461  $5,498  $31,331  $39    Acquisition costs (1) 6   -   35   -    Hazard pay (2) 1,500   -   2,600   -    Store Closing Write-off (3) -   -   1,039   -    Executive Transition Costs (4) -   266   -   623    Less tax benefit (408)  (69)  (997)  (161)   Adjusted net income$33,559  $5,695  $34,008  $501              Denominator:          Diluted weighted average shares outstanding 44,414   43,155   44,136   43,090              Reconciliation of earnings per share:         Dilutive earnings per share$0.73  $0.13  $0.71  $-   Impact of adjustments to numerator and denominator 0.03   -   0.06   0.01   Adjusted diluted earnings per share$0.76  $0.13  $0.77  $0.01              Reconciliation of net income to adjusted EBITDA:         Net income$32,461  $5,498  $31,331  $39   Interest expense 1,017   2,353   2,551   4,458   Income tax expense (benefit) 12,009   1,911   11,160   (92)  Depreciation and amortization 5,318   4,645   10,681   9,258   Stock-based compensation expense (5) 818   494   1,554   948   Pre-opening expenses (6) 431   672   819   1,001   Acquisition costs (1) 6   -   35   -   Hazard pay (2) 1,500   -   2,600   -   Store closing write-off (3) -   -   1,039   -   Executive transition costs (4) -   266   -   623   Adjusted EBITDA$53,560  $15,839  $61,770  $16,235              (1) Expenses incurred relating to the acquisition of Field & Stream stores.  (2) Expense incurred relating to bonuses and increased wages paid to front-line and non-executive back office associates due to COVID-19.  (3) Costs and impairments recorded relating to the closure of one store during the first quarter of 2020.  (4) Costs incurred for the recruitment and hiring of key members of management.  (5) Stock-based compensation expense represents non-cash expenses related to equity instruments granted to employees under our 2019 Performance Incentive Plan and employee stock purchase plan. (6) Pre-opening expenses include expenses incurred in the preparation and opening of a new store location, such as payroll, travel and supplies, but do not include the cost of the initial inventory or capital expenditures required to open a location.