Johnson Outdoors reported Q4 earnings and revenues below estimates, facing challenges and competition

From Nasdaq: 2024-12-11 07:24:00

Johnson Outdoors Inc. (JOUT) reported disappointing fourth-quarter fiscal 2024 results, with earnings and revenues missing estimates. Despite a year-over-year increase in revenue, the company experienced a decline in bottom-line performance due to challenging market conditions and heightened competition. Operating loss and reduced sales were highlighted as key challenges in the fiscal year.

The company focused on strategic investments and cost savings, emphasizing consumer-focused innovation, go-to-market strategies, and operational efficiencies to drive growth. JOUT reported an adjusted loss per share of $3.35 in the quarter, wider than expected, with net sales of $105.9 million, missing estimates.

For fiscal 2024, JOUT reported a decline in net sales to $592.8 million, an operating loss of $43.5 million, and an adjusted loss per share of $2.60. The company maintained a strong financial position with $162 million in cash and no debt obligations.

With a Zacks Rank #4 (Sell), JOUT faces challenges in the consumer discretionary sector. Better-ranked stocks include Cinemark Holdings Inc. (CNK), Norwegian Cruise Line Holdings Ltd. (NCLH), and Royal Caribbean Cruises Ltd. (RCL) with growth opportunities and positive earnings surprises. Discover more stock picks for $1 with Zacks’ portfolio services.



Read more at Nasdaq: Johnson Outdoors’ Q4 Earnings and Revenues Miss Estimates