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Johnson Outdoors Q2 revenue rises 16%

Overview

Outdoor recreation equipment maker's fiscal Q2 revenue rose 16% yr/yr

Adjusted EPS for fiscal Q2 rose to $0.89 from $0.22 yr/yr

Growth driven by improved retail conditions and innovation across all segments

Outlook

Johnson Outdoors did not provide specific financial guidance for the current or upcoming periods

Result Drivers

FISHING SEGMENT GROWTH - Fishing revenue rose 18% due to improved trade conditions, stronger competitive position, and pricing

GROSS MARGIN IMPROVEMENT - Gross margin rose to 38.8% from 35.0%, mainly due to improved overhead absorption and cost savings

ECOMMERCE AND MARKET CONDITIONS - Camping & Watercraft Recreation sales were up 1% due to increased ecommerce sales; Diving sales rose 9% driven by improved market conditions and ecommerce growth

Company press release: ID:nGNX57F2QP

Key Details

MetricBeat/MissActualConsensus Estimate
Q2 SalesBeat$194.48 mln$185.09 mln (1 Analyst)
Q2 EPS$0.89
Q2 Net Income$9.41 mln
Q2 Gross Profit$75.49 mln
Q2 Operating Income$10.35 mln
Q2 Pretax Profit$10.21 mln
Analyst Coverage Wall Street's median 12-month price target for Johnson Outdoors Inc is $55.00, about 2.8% above its May 7 closing price of $53.50 The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 30 three months ago For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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