American Outdoor Brands Corporation reported first-quarter fiscal 2018 (ended Jul 31, 2017) financial results. The company’s adjusted earnings per share of 2 cents missed the Zacks Consensus Estimate of 11 cents by 81.8%. The reported figure also declined 96.8% from the year-ago level of 62 cents.
Revenues
In the fiscal first quarter, American Outdoor Brands’ total sales were $129 million, missing the Zacks Consensus Estimate of $148 million by 12.8%. Revenues were also down 37.7% from $207 million in the year-ago quarter.
Operational Highlights
Total operating loss during the quarter was $3.2 million against operating income of $52.5 million in the year-ago quarter.
Gross margin for the quarter was 31.5% compared with 42.3% in first-quarter fiscal 2017.
American Outdoor Brands’ total operating expenses were $43.8 million, up 25.1% from $35 million in the year-ago quarter. The upside was driven by 23.8%, 27.4% and 29.5% increase in general and administrative expenses, selling and marketing expenses, and research and development expenses, respectively.
Financial Condition
As of Jul 31, American Outdoor Brands’ cash and cash equivalents were $43.4 million compared with $61.5 million as of Apr 30, 2017.
Notes payable (net) was $159.3 million as of Jul 31, up from $210.7 million as of Apr 30, 2017.
Cash outflow from operating activities in fiscal first quarter was $34.5 million compared with inflow of $40.6 million a year ago.
Guidance
American Outdoor Brands expects second-quarter fiscal 2018 non-GAAP earnings in the range of 7–12 cents per share. The company anticipates its revenues to be in the range of $140–$150 million.
For fiscal 2018, the company provided its non-GAAP earnings expectation in the band of $1.04–$1.24 per share compared with prior projection of $1.52–$1.62. Revenues are anticipated in the range of $700–$740 million for the same period compared with $750–$790, guided earlier.
Zacks Rank
American Outdoor Brands currently carries a Zacks Rank #4 (Sell).
Peer Releases
Raytheon Company reported second-quarter 2017 adjusted earnings of $1.98 per share from continuing operations, beating the Zacks Consensus Estimate of $1.74 by 13.8%. The figure also improved 5.3% from $1.88 in the year-ago quarter. Moreover, the company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here..
AAR Corp. (AIR - Free Report) reported fourth-quarter fiscal 2017 earnings of 44 cents per share, which surpassed the Zacks Consensus Estimate of 43 cents. In fact, the bottom line also improved 29.4% from the year-ago figure of 34 cents. The company carries a Zacks Rank #4.
Triumph Group Inc.’s (TGI - Free Report) adjusted earnings from continuing operations in first-quarter fiscal 2018 (ended Jun 30) came in at 24 cents per share, missing the Zacks Consensus Estimate of 87 cents by 72.4%. Reported earnings also declined 76.9% from $1.04 per share a year ago. Furthermore, the company carries a Zacks Rank #5 (Strong Sell).
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
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 >>
American Outdoor Brands Corporation reported first-quarter fiscal 2018 (ended Jul 31, 2017) financial results. The company’s adjusted earnings per share of 2 cents missed the Zacks Consensus Estimate of 11 cents by 81.8%. The reported figure also declined 96.8% from the year-ago level of 62 cents.
Revenues
In the fiscal first quarter, American Outdoor Brands’ total sales were $129 million, missing the Zacks Consensus Estimate of $148 million by 12.8%. Revenues were also down 37.7% from $207 million in the year-ago quarter.
Operational Highlights
Total operating loss during the quarter was $3.2 million against operating income of $52.5 million in the year-ago quarter.
Gross margin for the quarter was 31.5% compared with 42.3% in first-quarter fiscal 2017.
American Outdoor Brands’ total operating expenses were $43.8 million, up 25.1% from $35 million in the year-ago quarter. The upside was driven by 23.8%, 27.4% and 29.5% increase in general and administrative expenses, selling and marketing expenses, and research and development expenses, respectively.
Financial Condition
As of Jul 31, American Outdoor Brands’ cash and cash equivalents were $43.4 million compared with $61.5 million as of Apr 30, 2017.
Notes payable (net) was $159.3 million as of Jul 31, up from $210.7 million as of Apr 30, 2017.
Cash outflow from operating activities in fiscal first quarter was $34.5 million compared with inflow of $40.6 million a year ago.
Guidance
American Outdoor Brands expects second-quarter fiscal 2018 non-GAAP earnings in the range of 7–12 cents per share. The company anticipates its revenues to be in the range of $140–$150 million.
For fiscal 2018, the company provided its non-GAAP earnings expectation in the band of $1.04–$1.24 per share compared with prior projection of $1.52–$1.62. Revenues are anticipated in the range of $700–$740 million for the same period compared with $750–$790, guided earlier.
Zacks Rank
American Outdoor Brands currently carries a Zacks Rank #4 (Sell).
Peer Releases
Raytheon Company reported second-quarter 2017 adjusted earnings of $1.98 per share from continuing operations, beating the Zacks Consensus Estimate of $1.74 by 13.8%. The figure also improved 5.3% from $1.88 in the year-ago quarter. Moreover, the company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here..
AAR Corp. (AIR - Free Report) reported fourth-quarter fiscal 2017 earnings of 44 cents per share, which surpassed the Zacks Consensus Estimate of 43 cents. In fact, the bottom line also improved 29.4% from the year-ago figure of 34 cents. The company carries a Zacks Rank #4.
Triumph Group Inc.’s (TGI - Free Report) adjusted earnings from continuing operations in first-quarter fiscal 2018 (ended Jun 30) came in at 24 cents per share, missing the Zacks Consensus Estimate of 87 cents by 72.4%. Reported earnings also declined 76.9% from $1.04 per share a year ago. Furthermore, the company carries a Zacks Rank #5 (Strong Sell).
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
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 >>
Get the latest research report on TGI - FREE
Get the latest research report on AIR - FREE