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American Outdoor Brands (AOBC) Beats on Q1 Earnings & Sales
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American Outdoor Brands Corporation reported first-quarter fiscal 2019 (ended Jul 31, 2018) results. The company’s adjusted earnings of 21 cents per share surpassed the Zacks Consensus Estimate of 12 cents by 75%. The reported figure made a significant improvement from the year-ago quarter’s level of 2 cents. The bottom line also exceeded management’s expectation of 10-14 cents per share in the reported quarter.
Excluding the one-time items, the company’s GAAP earnings came in at 14 cents per share against the loss of 4 cents incurred in the prior-year quarter.
Sales
American Outdoor Brands’ total sales were $139 million, which exceeded the Zacks Consensus Estimate of $138 million by 0.6%. The top-line figure also improved 7.6% from $129 million in the year-ago quarter.
American Outdoor Brands Corporation Price, Consensus and EPS Surprise
In the quarter under review, total operating income came in at $13.5 million against operation loss of $3.2 million incurred in the comparable quarter last year.
Gross margin was 37.8% compared with 31.5% in first-quarter fiscal 2018.
American Outdoor Brands’ total operating expenses summed $38.9 million, down 11.1% from $43.8 million in the year-ago quarter. The downside can be primarily attributed to a 16.4% decline in general and administrative expenses.
Financial Condition
As of Jul 31, 2018, American Outdoor Brands’ cash and cash equivalents were $25.2 million compared with $48.9 million as of Apr 30, 2018.
Notes payable (net of current portion) totaled $153.8 million as of Jul 31, 2018, down from $180.3 million as of Apr 30, 2018.
Cash inflow from operating activities for the fiscal first quarter (ended Jul 31, 2018) was $10.6 million, while cash outflow from operating activities amounted to $34.5 million a year ago.
Guidance
For second-quarter fiscal 2019, American Outdoor Brands expects adjusted earnings in the range of 11-15 cents per share. Revenues are anticipated in the $150-$160 million band.
The company has raised its outlook for fiscal 2019. It currently expects to generate adjusted earnings in the band of 62-66 cents per share compared with 40-50 cents per share projected earlier. Revenues are now envisioned between $620 miilion and $630 million for fiscal 2019 compared with earlier guidance range of $570-$600 million.
HEICO Corporation (HEI - Free Report) reported third-quarter fiscal 2018 earnings of 49 cents per share, which surpassed the Zacks Consensus Estimate of 45 cents by 8.9%.
Boeing (BA - Free Report) reported adjusted earnings of $3.33 per share in second-quarter 2018, which exceeded the Zacks Consensus Estimate of $3.24 by 2.8%.
Lockheed Martin’s (LMT - Free Report) second-quarter 2018 adjusted earnings came in at $4.31 per share, outpacing the Zacks Consensus Estimate of $3.89 by 10.8%.
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American Outdoor Brands (AOBC) Beats on Q1 Earnings & Sales
American Outdoor Brands Corporation reported first-quarter fiscal 2019 (ended Jul 31, 2018) results. The company’s adjusted earnings of 21 cents per share surpassed the Zacks Consensus Estimate of 12 cents by 75%. The reported figure made a significant improvement from the year-ago quarter’s level of 2 cents. The bottom line also exceeded management’s expectation of 10-14 cents per share in the reported quarter.
Excluding the one-time items, the company’s GAAP earnings came in at 14 cents per share against the loss of 4 cents incurred in the prior-year quarter.
Sales
American Outdoor Brands’ total sales were $139 million, which exceeded the Zacks Consensus Estimate of $138 million by 0.6%. The top-line figure also improved 7.6% from $129 million in the year-ago quarter.
American Outdoor Brands Corporation Price, Consensus and EPS Surprise
American Outdoor Brands Corporation Price, Consensus and EPS Surprise | American Outdoor Brands Corporation Quote
Operational Highlights
In the quarter under review, total operating income came in at $13.5 million against operation loss of $3.2 million incurred in the comparable quarter last year.
Gross margin was 37.8% compared with 31.5% in first-quarter fiscal 2018.
American Outdoor Brands’ total operating expenses summed $38.9 million, down 11.1% from $43.8 million in the year-ago quarter. The downside can be primarily attributed to a 16.4% decline in general and administrative expenses.
Financial Condition
As of Jul 31, 2018, American Outdoor Brands’ cash and cash equivalents were $25.2 million compared with $48.9 million as of Apr 30, 2018.
Notes payable (net of current portion) totaled $153.8 million as of Jul 31, 2018, down from $180.3 million as of Apr 30, 2018.
Cash inflow from operating activities for the fiscal first quarter (ended Jul 31, 2018) was $10.6 million, while cash outflow from operating activities amounted to $34.5 million a year ago.
Guidance
For second-quarter fiscal 2019, American Outdoor Brands expects adjusted earnings in the range of 11-15 cents per share. Revenues are anticipated in the $150-$160 million band.
The company has raised its outlook for fiscal 2019. It currently expects to generate adjusted earnings in the band of 62-66 cents per share compared with 40-50 cents per share projected earlier. Revenues are now envisioned between $620 miilion and $630 million for fiscal 2019 compared with earlier guidance range of $570-$600 million.
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.
Other Defense Releases
HEICO Corporation (HEI - Free Report) reported third-quarter fiscal 2018 earnings of 49 cents per share, which surpassed the Zacks Consensus Estimate of 45 cents by 8.9%.
Boeing (BA - Free Report) reported adjusted earnings of $3.33 per share in second-quarter 2018, which exceeded the Zacks Consensus Estimate of $3.24 by 2.8%.
Lockheed Martin’s (LMT - Free Report) second-quarter 2018 adjusted earnings came in at $4.31 per share, outpacing the Zacks Consensus Estimate of $3.89 by 10.8%.
5 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.
Click to see them right now >>