American Outdoor Brands Corporation reported third-quarter fiscal 2019 (ended Jan 31, 2019) financial results. The company’s adjusted earnings of 16 cents per share surpassed the Zacks Consensus Estimate of 12 cents by 33.3%. The bottom line also improved 77.8% from the year-ago quarter’s 9 cents.
However, the company incurred GAAP loss of 10 cents per share against earnings of 21 cents per share in third-quarter fiscal 2018.
Revenues
American Outdoor Brands’ total sales amounted to $162 million in the quarter under review, which missed the Zacks Consensus Estimate of $162.6 million by a whisker. However, the top line increased 2.9% from $157.4 million in the year-ago quarter.
Operational Highlights
In the reported quarter, total operating loss was $2 million against operating income of $5.8 million generated during the year-ago quarter.
Gross margin was 33.4% compared with 29.8% in third-quarter fiscal 2018. American Outdoor Brands’ total operating expenses totaled $56.1million, up 36.6% from $41.1 million in the prior-year quarter. Higher general and administrative expenses were the primary reason for this downturn.
American Outdoor Brands’ cash and cash equivalents were $37.5 million compared with $48.9 million as of Apr 30, 2018.
Notes and loans payables (net) were $175.9 million as of Jan 31, 2019, down from $180.3 million as of Apr 30, 2018.
Cash inflow from operating activities in the first nine months of fiscal 2019 was $20.7 million against cash outflow of $4.5 million a year ago.
Guidance
For fourth-quarter fiscal 2019, American Outdoor Brands expects adjusted earnings of 11-15 cents per share. Revenues are anticipated to be $162-$172 million.
Meanwhile, the company reiterated its outlook for fiscal 2019. It continues to expect adjusted earnings of 69-73 cents per share on revenues of $625-$635 million. Currently, the Zacks Consensus Estimate for earnings and revenues is pegged at 72 cents and $631.6 million, respectively, both near the higher end of the company’s guided range.
Zacks Rank
American Outdoor Brands has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Defense Releases
Spirit AeroSystems Holdings (SPR - Free Report) reported fourth-quarter 2018 adjusted earnings of $1.85 per share, which surpassed the Zacks Consensus Estimate of $1.78 by 4%.
Raytheon Company reported fourth-quarter 2018 earnings per share (EPS) of $2.93 from continuing operations, which outpaced the Zacks Consensus Estimate of $2.89 by 1.4%. The bottom-line figure also improved a massive 117% from the year-ago quarter’s figure of $1.35.
The Boeing Company (BA - Free Report) reported adjusted earnings of $5.48 per share for fourth-quarter 2018, which exceeded the Zacks Consensus Estimate of $4.52 by 21.2%. The bottom line reflected an improvement of 8% from $5.07 registered in the year-ago quarter.
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American Outdoor Brands Corporation reported third-quarter fiscal 2019 (ended Jan 31, 2019) financial results. The company’s adjusted earnings of 16 cents per share surpassed the Zacks Consensus Estimate of 12 cents by 33.3%. The bottom line also improved 77.8% from the year-ago quarter’s 9 cents.
However, the company incurred GAAP loss of 10 cents per share against earnings of 21 cents per share in third-quarter fiscal 2018.
Revenues
American Outdoor Brands’ total sales amounted to $162 million in the quarter under review, which missed the Zacks Consensus Estimate of $162.6 million by a whisker. However, the top line increased 2.9% from $157.4 million in the year-ago quarter.
Operational Highlights
In the reported quarter, total operating loss was $2 million against operating income of $5.8 million generated during the year-ago quarter.
Gross margin was 33.4% compared with 29.8% in third-quarter fiscal 2018. American Outdoor Brands’ total operating expenses totaled $56.1million, up 36.6% from $41.1 million in the prior-year quarter. Higher general and administrative expenses were the primary reason for this downturn.
American Outdoor Brands’ cash and cash equivalents were $37.5 million compared with $48.9 million as of Apr 30, 2018.
Notes and loans payables (net) were $175.9 million as of Jan 31, 2019, down from $180.3 million as of Apr 30, 2018.
Cash inflow from operating activities in the first nine months of fiscal 2019 was $20.7 million against cash outflow of $4.5 million a year ago.
Guidance
For fourth-quarter fiscal 2019, American Outdoor Brands expects adjusted earnings of 11-15 cents per share. Revenues are anticipated to be $162-$172 million.
Meanwhile, the company reiterated its outlook for fiscal 2019. It continues to expect adjusted earnings of 69-73 cents per share on revenues of $625-$635 million. Currently, the Zacks Consensus Estimate for earnings and revenues is pegged at 72 cents and $631.6 million, respectively, both near the higher end of the company’s guided range.
Zacks Rank
American Outdoor Brands has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Defense Releases
Spirit AeroSystems Holdings (SPR - Free Report) reported fourth-quarter 2018 adjusted earnings of $1.85 per share, which surpassed the Zacks Consensus Estimate of $1.78 by 4%.
Raytheon Company reported fourth-quarter 2018 earnings per share (EPS) of $2.93 from continuing operations, which outpaced the Zacks Consensus Estimate of $2.89 by 1.4%. The bottom-line figure also improved a massive 117% from the year-ago quarter’s figure of $1.35.
The Boeing Company (BA - Free Report) reported adjusted earnings of $5.48 per share for fourth-quarter 2018, which exceeded the Zacks Consensus Estimate of $4.52 by 21.2%. The bottom line reflected an improvement of 8% from $5.07 registered in the year-ago quarter.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>
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.
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