Johnson Outdoors Inc Reports Earnings for Q3 FY2024
Intellectia.AI Updated: 2024-08-06
Johnson Outdoors Inc. Reports Earnings for Q3 FY2024
Johnson Outdoors Inc. (NASDAQ: JOUT) reported its financial results for the fiscal third quarter ending June 28, 2024.
Key Financial Metrics
| Metric | Q3 FY2024 Actual | Q3 FY2023 Actual | Q2 FY2024 Actual | YoY Change | QoQ Change | Consensus Estimates* |
|---|---|---|---|---|---|---|
| Total Revenue ($M) | 172.472 | 187.047 | 166.120 | -7.8% | +3.8% | 176.14 |
| Earnings per Share (EPS) | 0.16 | 1.44 | 0.10 | -88.9% | +60% | 0.22 |
*Consensus estimates source: Wall Street
Interpretation: Johnson Outdoors saw a year-over-year (YoY) decline in both revenue and EPS. However, there was a modest quarter-over-quarter (QoQ) improvement. The company fell short of Wall Street's consensus estimates for both revenue and EPS.
Segment Revenue Performance
| Segment | Q3 FY2024 ($M) | Q3 FY2023 ($M) | Q2 FY2024 ($M) | YoY Change | vs. Guidance |
|---|---|---|---|---|---|
| Fishing | 130.537 | 137.460 | 126.840 | -5.0% | No guidance |
| Camping | 10.927 | 11.658 | 10.500 | -6.3% | No guidance |
| Watercraft Recreation | 11.070 | 15.726 | 9.650 | -29.6% | No guidance |
| Diving | 19.861 | 22.227 | 19.130 | -10.6% | No guidance |
Interpretation: All major segments experienced revenue declines YoY, with notable declines in the Watercraft Recreation and Diving segments primarily due to softening market demand.
Executive Comments
- Helen P. Johnson-Leipold, Chairman and CEO: "While we faced ongoing market challenges and competitive pressure in many of our product categories, we continue to focus on our strategic initiatives to drive long-term growth and profitability."
Stock Price Movement Post-Earnings
Following the earnings release, Johnson Outdoors' stock saw a decrease of 10.63%.
This summary provides a concise overview of Johnson Outdoors' financial performance for Q3 FY2024, highlighting key metrics, segment performance, and executive comments based on the data provided in the earnings release.