Johnson Outdoors Inc. (JOUT - Free Report) is a leading global outdoor recreation company that turns ideas into adventure with innovative, top-quality products. The Company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft, Marine Electronics, Diving and Outdoor Equipment. Johnson Outdoors' familiar brands include, among others: Old Town canoes and kayaks; Ocean Kayak and Necky kayaks; Lendal paddles; Escape electric boats; Minn Kota motors; Cannon downriggers; Humminbird, Bottom Line and Fishin' Buddy fishfinders; Scubapro and UWATEC dive equipment; Silva compasses and digital instruments; and Eureka! tents.
Recent Earnings
Last week, management posted record high third quarter earnings with net sales improving by +11.5% year over year (YoY). Specifically the fishing segment saw sales improve by +18%, and diving sales rise by +17% YoY. Further, operating profits leaped up by +81.6% while gross margins were up 290 basis points YoY. Lastly, management was able to generate all of these impressive numbers and have their balance sheet show $94 million in cash with zero debt.
Management’s Take
According to Helen Johnson-Leipold, Chairman and CEO, “This quarter’s outstanding results emphasize the importance of our continued focus and investment on delivering market-winning innovation driven by a deeper understanding of, and unique insights into outdoor recreation consumers. Exceptional new products and technologies are powering tremendous growth in Fishing. Likewise, innovation in core life-support categories has created positive marketplace momentum and improved performance in Diving. At the same time, our unique flux-ring technology in Jetboil6 and innovative Predator series of fishing boats from Old Town have helped us grow share in very challenging Camping and Watercraft Recreation markets. Overall, we are well-positioned to end the year strong with solid momentum heading into the next fiscal year. Looking ahead, we expect to see Fishing grow at a more normalized rate. We will continue to advance progress against our three key strategic plan priorities - richer consumer insights, enhanced innovation processes and digital sophistication the cornerstones of a foundation for success in delivering accelerated, sustained profitable growth long-term.”
Price and Earnings Consensus Graph
As you can see in the graph below, JOUT’s strong earnings performance caused both the stock price and future earnings estimates to skyrocket.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Johnson Outdoors Inc. (JOUT - Free Report) is a leading global outdoor recreation company that turns ideas into adventure with innovative, top-quality products. The Company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft, Marine Electronics, Diving and Outdoor Equipment. Johnson Outdoors' familiar brands include, among others: Old Town canoes and kayaks; Ocean Kayak and Necky kayaks; Lendal paddles; Escape electric boats; Minn Kota motors; Cannon downriggers; Humminbird, Bottom Line and Fishin' Buddy fishfinders; Scubapro and UWATEC dive equipment; Silva compasses and digital instruments; and Eureka! tents.
Recent Earnings
Last week, management posted record high third quarter earnings with net sales improving by +11.5% year over year (YoY). Specifically the fishing segment saw sales improve by +18%, and diving sales rise by +17% YoY. Further, operating profits leaped up by +81.6% while gross margins were up 290 basis points YoY. Lastly, management was able to generate all of these impressive numbers and have their balance sheet show $94 million in cash with zero debt.
Management’s Take
According to Helen Johnson-Leipold, Chairman and CEO, “This quarter’s outstanding results emphasize the importance of our continued focus and investment on delivering market-winning innovation driven by a deeper understanding of, and unique insights into outdoor recreation consumers. Exceptional new products and technologies are powering tremendous growth in Fishing. Likewise, innovation in core life-support categories has created positive marketplace momentum and improved performance in Diving. At the same time, our unique flux-ring technology in Jetboil6 and innovative Predator series of fishing boats from Old Town have helped us grow share in very challenging Camping and Watercraft Recreation markets. Overall, we are well-positioned to end the year strong with solid momentum heading into the next fiscal year. Looking ahead, we expect to see Fishing grow at a more normalized rate. We will continue to advance progress against our three key strategic plan priorities - richer consumer insights, enhanced innovation processes and digital sophistication the cornerstones of a foundation for success in delivering accelerated, sustained profitable growth long-term.”
Price and Earnings Consensus Graph
As you can see in the graph below, JOUT’s strong earnings performance caused both the stock price and future earnings estimates to skyrocket.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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