Published on 3 May 2024 on GuruFocus.com via Yahoo Finance
Johnson Outdoors Inc. Misses Quarterly Earnings Expectations Amid Market Challenges
Revenue: Reported $175.9 million, a decrease of 13% year-over-year, exceeding estimates of $158.76 million.Net Income: Totaled $2.2 million, significantly below the previous year's $14.9 million and falling short of estimates of $13.82 million.Earnings Per Share: Achieved $0.21 per diluted share, considerably lower than the prior year's $1.45 and below the estimated $1.12.Gross Margin: Declined to 34.9% from 37.3% year-over-year, reflecting increased promotional activities and unfavorable overhead absorption.Operating Expenses: Decreased to $61.7 million, down by $2.3 million from the previous year, due to lower sales volume and incentive compensation.Cash and Short-term Investments: Stood at $84.3 million as of March 29, 2024, a decrease from $107.6 million at the end of the previous year.Dividends: Continued payment of quarterly cash dividends, underscoring commitment to shareholder returns despite financial pressures.
Warning! GuruFocus has detected 7 Warning Signs with JOUT.