Vista Outside inventory surges on large earnings beat, with ammunition driving 49% bounce in taking pictures sports activities gross sales


Shares of Vista Outdoor Inc. vsto
Pre-trading rose 6.0% on Thursday after the outdoor and shooting sports products company reported high profit and sales overruns in the second quarter with particular strength in the shooting sports segment and an optimistic outlook for the full year. Net income for the quarter ended September 26 increased to $ 139.5 million, or $ 2.36 per share, from $ 79.6 million or $ 1.34 per share for the same period last year. Excluding one-time items, adjusted earnings per share of $ 2.41 exceeded the FactSet consensus of $ 1.78. Revenue rose 35.3% to $ 778.5 million, above the FactSet consensus of $ 722.6 million. Shooting sports sales rose 49% to $ 566 million, boosted by ammunition growth of 65%, while outdoor product sales rose 9% to $ 212 million as CamelBak and Action Sports led double-digit percentage growth in outdoor recreation. For fiscal 2022, the company expects adjusted earnings per share of $ 7.70 to $ 8.00, above the FactSet consensus of $ 6.13, and revenue of 2.90 to 2.95 Billion US dollars versus 2.78 billion US dollars. The stock was up 82.7% year-to-date through Wednesday, while the S&P 500 spx
has increased by 24.1%.