Research Desk Line-up: Sportsman's Warehouse Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 25, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Vista Outdoor Inc. (NYSE: VSTO) ("Vista"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=VSTO, following the Company's posting of its first quarter fiscal 2018 financial results on August 10, 2017. The maker of firearms, ammunition, and accessories reiterated its fiscal 2018 guidance. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Sporting Goods industry. Pro-TD has currently selected Sportsman's Warehouse Holdings, Inc. (NASDAQ: SPWH) for due-diligence and potential coverage as the Company announced on August 17, 2017, its financial results for Q2 2017 which ended on July 29, 2017. Register for a free membership today, and be among the early birds that get access to our report on Sportsman's Warehouse when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on VSTO; also brushing on SPWH. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=VSTO

http://protraderdaily.com/optin/?symbol=SPWH

Earnings Reviewed

For the quarter ended July 02, 2017, Vista reported net sales of $568.75 million, down 10% compared to net sales of $630.27 million in Q1 FY17, including $21 million of additional sales from the acquisition of Camp Chef. The Company's sales declined 13% on an organic basis. Vista's net sales figures beat analysts' expectations of $553 million.

For Q1 FY18, Vista's gross profit totaled $147 million, down 14% compared to $171.38 million in Q1 FY17. The Company's reported quarter gross profit included $7 million of gross profit from the Camp Chef's acquisition, offset by an 18% drop in organic gross profit. Vista's operating expenses were $107 million for the reported quarter compared to $112 million in the prior-year's corresponding quarter. The Company's income before income taxes totaled $26.95 billion compared to $47.14 million in Q1 FY17.

Vista reported net income of $16.65 million, or $0.29 per diluted share, for Q1 FY18 compared to net income of $29.12 million, or $0.48, in Q1 FY17. The Company's adjusted earnings totaled $0.24 per diluted share for the reported quarter and came in ahead of Wall Street's expectations of $0.13 per share.

Segment Results

During Q1 FY18, Vista's Outdoor Products segment's recorded sales of $290 million, up 1% from $287 million in Q1 FY17 including approximately $21 million of sales from the Camp Chef acquisition. Organically, the segment was down approximately 6% on a y-o-y basis, attributed to lower sales across most product lanes, including the impact of increased promotional activities across the segment.

The Company's gross profit in the reported quarter for its Outdoor Products segment was $77 million, reflecting a decrease of 6% from $82 million in the prior year's same quarter. Organic gross profit for the segment was down 13% as a result of lower organic sales across most product lanes, increased promotional activity, and unfavorable product mix, partially offset by cost-reduction initiatives.

For Q1 FY18, Vista's Shooting Sports business generated sales of $279 million, down 19% from $343 million in Q1 FY17, as a result of lower demand across all product lanes. The segment's gross profit totaled $70 million in the reported quarter, down 23% from $91 million in the year ago comparable period. The year-over-year decrease was a result of lower volume, sales programs, and product mix.

Cash Matters

During Q1 FY18, Vista's cash flow provided by operating activities was $39 million compared to a use of $22 million for operating activities in Q1 FY17. On a year-to-date basis, the Company's free cash flow generation was $23 million compared to free cash flow use of $41 million in the prior-year's corresponding period, an overall favorable change of $64 million, primarily driven by improved inventory management partially offset by the lower net income.

Outlook for Fiscal Year 2018

Vista re-affirmed its FY18 outlook. The Company is forecasting sales in the range of $2.36 billion to $2.42 billion, interest expense of approximately $50 million. Vista is projecting adjusted earnings in the range of $1.10 to $1.30 per share and capital expenditures of approximately $70 million. The Company is estimating free cash flow in the band of $175 million to $200 million.

Stock Performance

On Thursday, August 24, 2017, the stock closed the trading session at $22.06, climbing 1.15% from its previous closing price of $21.81. A total volume of 895.58 thousand shares have exchanged hands. Vista Outdoor's stock price advanced 4.50% in the last three months and 6.47% in the past six months. At Thursday's closing price, the stock's net capitalization stands at $1.29 billion.

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SOURCE: Pro-Trader Daily