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American Outdoor Brands (AOBC) Q3 Earnings Top, Revenues Lag

Zacks Equity Research
Updated

American Outdoor Brands Corporation AOBC reported third-quarter fiscal 2018 (ended Jan 31, 2018) results. The company’s adjusted earnings per share of 9 cents surpassed the Zacks Consensus Estimate of 8 cents by 12.5%. However, the reported figure declined 86.4% from the year-ago level of 66 cents.

Excluding the one-time items, the company reported GAAP earnings of 21 cents per share compared to prior-year quarter’s figure of 57 cents per share.

Revenues

In the fiscal third quarter, American Outdoor Brands’ total sales were $157.4 million, lagging the Zacks Consensus Estimate of $173 million by 9.5%. Moreover, the top line was down 32.6% from $233.5 million in the year-ago quarter.

Operational Highlights

Total operating income during the quarter was $5.84 million, down from $50.2 million in the year-ago quarter.

Gross margin for the quarter was 29.8% compared with 42.5% in third-quarter fiscal 2017.

American Outdoor Brands’ total operating expenses were $41.08 million, down 16.3% from $49.1 million in the year-ago quarter. The downside was owing to 30.4% decline in general and administrative expenses.

Financial Condition

As of Jan 31, 2018, American Outdoor Brands’ cash and cash equivalents were $38.2 million compared with $61.5 million as of Apr 30, 2017.

Notes payable (net) was $231.6 million as of Jan 31, 2018, up from $210.7 million as of Apr 30, 2017.

Cash outflow from operating activities for the nine months ended on Jan 31, 2018, was $4.5 million compared with cash inflow of $109.5 million a year ago.

 

American Outdoor Brands Corporation Price, Consensus and EPS Surprise

 

American Outdoor Brands Corporation Price, Consensus and EPS Surprise | American Outdoor Brands Corporation Quote

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Guidance

American Outdoor Brands expects fourth-quarter fiscal 2018 adjusted earnings in the range of 9-11 cents per share. The company anticipates revenues to be in the $162–$166 million band.

For fiscal 2018, the company expects adjusted earnings in the band of 31–33 cents per share. Revenues are anticipated in the range of $597-$601 million for the same period.

Zacks Rank

American Outdoor Brands has a Zacks Rank #4 (Sell).

Peer Releases

Spirit Aerosystems Holdings’s SPR recorded fourth-quarter 2017 adjusted earnings of $1.32 per share, which surpassed the Zacks Consensus Estimate of $1.22 by 8.2%. The company sports a Zacks Rank
#1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Huntington Ingalls Industries’ HII reported fourth-quarter 2017 adjusted earnings of $3.11 per share surpassed the Zacks Consensus Estimate of $2.92 by 6.5%. Earnings however declined 26% from $4.20 a year ago. The company flaunts a Zacks Rank #1.

Leidos Holdings LDOS reported fourth-quarter 2017 adjusted earnings of 87 cents per share, beating the Zacks Consensus Estimate of 83 cents by 4.8%. Earnings improved 16% from the year-ago quarter's figure of 75 cents. The company carries a Zacks Rank #2 (Buy).

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Leidos Holdings, Inc. (LDOS) : Free Stock Analysis Report
 
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