Market Composite

VSTO - Vista Outdoor Inc

$27.97

0.03(0.11%)8:00:01 PM 5/26/2023

Vista Outdoor Inc. is an American designer, manufacturer, and marketer of outdoor sports and recreation products. It operates in two markets: shooting sports and outdoor products. It is a "house of brands" with more than 40 labels and subsidiaries. It trades under "VSTO" on the New York Stock Exchange. Vista Outdoor is the parent company to many ammunition makers, including Federal Ammunition. Alliant Techsystems , entered the ammunition and outdoor products business in 2001. ATK grew through acquisitions and a large increase in demand for ammunition for police, hunting, and other private uses.

Revenue Breakdowns

Product

Segment

Geography

The revenue breakdowns above are extracted from this specific SEC Edgar 10-Q filling, with report date as 2022-12-25 and filed on 2023-02-03. The process is fully automated and without human validation. Although we make every effort getting the relevant information, please be advised that We make no representation or warranties of any kind about completeness, accuracy, reliability, suitability or availability of the information exacted from Edgar 10-K/10-Q filings.

Highlights of Management Discussion and Risk Factors in 10-K/10-Q filling

Positive

Participation rates have remained strong, and we are seeing an expanded demographic of users.

We believe we are well-positioned to succeed and capitalize on this demand given our scale and global operating platform, which we believe is particularly difficult to replicate in the highly regulated and capital-intensive ammunition manufacturing sector.

However, outdoor participation trends and demand for premium price points remain strong across our brand portfolio.

Our Outdoor Products brands hold a strong competitive position in the marketplace, and we intend to further differentiate our brands through focused research and development and marketing investments including increased use of social media and other digital marketing.

Following significant investments in our brands’ e-commerce capabilities, both directly and through our E-Commerce Center of Excellence, we believe our brands are well-positioned to benefit from the ongoing shift in consumer shopping behavior to utilize online channels.

This broadened end consumer base has resulted in a much larger total addressable market opportunity for the industry and for our company.

We believe that long-term outdoor participation trends combined with a larger base of participants supports our expectation of continued increased demand for the innovative outdoor recreation-related products produced by our Outdoor 27Table of ContentsProducts brands.

We believe that long-term participation trends support our expectation of continued increased demand for hunting and shooting-sports related products.

We have a scalable, integrated portfolio of brands that allows us to leverage our deep customer knowledge, product development and innovation, supply chain and distribution, and sales and marketing functions across product categories to better serve our retail partners and consumers.

10.

Nine months endedSporting Products— The increase in net sales was driven by improved pricing and higher volume in primer and rimfire, partially offset by volume declines in pistol, and termination of the Lake City contract at the beginning of the third fiscal quarter.

11.

Business and ProductsWe serve the outdoor sports and recreation markets through a diverse portfolio of well-recognized brands that provide consumers with a wide range of performance-driven, high-quality, and innovative products.

12.

Outdoor Products—The increase in gross profit was primarily driven by volume from acquired businesses and price.

13.

Outdoor Products— The increase in net sales was driven by acquired businesses and pricing, partially offset by declines in our organic businesses, which were primarily caused by reduced purchasing from big box retailers, and international and other wholesale vendors.

Negative

Gross profit margin decreased to 31.6%, a decrease of 380 basis points over the comparable quarter last year.

EBIT margin decreased to 12.9%, a decrease of 710 basis points over the comparable quarter last year.•Net income decreased to $65,147, or $1.13 per diluted share, compared to net income of $118,137, or $2.00 per diluted share, for the comparable quarter last year.

•EBIT decreased $61,622, or 38.8%, over the comparable quarter last year.

Executive SummaryFinancial highlights and notable events for the three months ended December 25, 2022 included the following:•Net sales decreased $39,879, or 5.0%, over the comparable quarter last year.

Outdoor Products—The decrease in EBIT was primarily caused by decreased gross profit in the organic businesses, as well as increased selling, general, and administrative costs related to acquired businesses.

Gross profit margin was 35.2% compared to 38.7% in the prior year quarter.28Table of ContentsOutdoor Products—The decrease in gross profit was primarily caused by organic business volume declines, increased amortization costs from acquired businesses, increased promotional activity and unfavorable mix, partially offset by volume from acquired businesses.

◦ Outdoor Products net sales increased $18,263, or 5.5%.•Gross profit decreased $42,664, or 15.2%, as compared to the comparable quarter last year.

◦ Sporting Products net sales decreased $58,142, or 12.6%.

10.

Corporate and Other—The decrease in corporate gross profit was due to inventory step-up expenses related to acquisitions completed in the second quarter of fiscal year 2023.Nine months endedSporting Products—The decrease in gross profit was caused by increased commodity and freight costs.

11.

◦ Sporting Products gross profit decreased $36,603, or 20.6%.

12.

Nine months endedSporting Products—The decrease in EBIT was primarily driven by the decrease in gross profit, partially offset by decreased incentive compensation.

13.

We believe that demand for our Outdoor Products is being temporarily impacted by higher inflation causing a contraction in disposable income.

14.

◦ Outdoor Products gross profit decreased $2,259, or 2.2%.

15.

net sales$754,775 $794,654 $(39,879)(5.0)%$2,339,065 $2,236,026 $103,039 4.6 %Three months endedSporting Products— The decrease in net sales was a result of lower shipments, primarily of pistol ammunition, as channel inventory has normalized, the timing of shotshell shipments, and the termination of the Lake City contract at the beginning of the quarter.

16.

Dependence on Key Customers; Concentration of CreditNo single customer contributed 10% or more of our sales in the nine months ended December 25, 2022 and December 26, 2021.31Table of ContentsIf a key customer fails to meet payment obligations, our operating results and financial condition could be adversely affected.

17.

EBIT$97,325 $158,947 $(61,622)(38.8)%$401,658 $493,342 $(91,684)(18.6)%EBIT margin12.9%20.0%17.2%22.1%Three months endedSporting Products—The decrease in EBIT was primarily caused by decreased gross profit, partially offset by decreased incentive compensation.

18.

Corporate and Other—The decrease in EBIT was primarily due to increased planned separation costs and decreased gross profit, partially offset by a decrease in contingent consideration and lower incentive compensation.

19.

If our sourcing and pricing strategy is unable to offset impacts of the commodity price fluctuations, our future results from operations and cash flows would be materially impacted.

20.

Additionally, inflation may potentially impact demand as consumers reduce discretionary spending.

The management discussion contents above are extracted from this specific SEC Edgar 10-Q filling, with report date as 2022-12-25 and filed on 2023-02-03. The process is fully automated and without human validation. Although we make every effort getting the relevant information, please be advised that We make no representation or warranties of any kind about completeness, accuracy, reliability, suitability or availability of the information exacted from Edgar 10-K/10-Q filings.

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Stock news

05/24/2023VSTO

Vista Outdoor's (NYSE:VSTO) investors will be pleased with their strong 204% return over the last three years

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05/11/2023VSTO

Vista Outdoor Participating in Upcoming Investor Conferences

ANOKA, Minn., May 11, 2023--Vista Outdoor Inc. (NYSE: VSTO), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor lifestyle products to consumers around the globe, will be participating in four investor conferences in May and June.

05/3/2023VSTO

Vista Outdoor (VSTO) Q4 Earnings and Revenues Top Estimates

Vista Outdoor (VSTO) delivered earnings and revenue surprises of 20% and 1.04%, respectively, for the quarter ended March 2023. Do the numbers hold clues to what lies ahead for the stock?

05/3/2023VSTO

Vista Outdoor Reports Fourth Quarter and Fiscal Year 2023 Financial Results

ANOKA, Minn., May 03, 2023--Vista Outdoor Inc. (NYSE: VSTO), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor lifestyle products to consumers around the globe, today reported operating results for the fourth quarter and Fiscal Year 2023 (FY23), which ended on March 31, 2023.

04/26/2023VSTO

Vista Outdoor PAC Donates $85,000 to Five Nonprofits

ANOKA, Minn., April 26, 2023--Vista Outdoor will donate $85,000 in unused funds from the Vista Outdoor Political Action Committee to five nonprofit organizations.

04/16/2023VSTO

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04/13/2023VSTO

Vista Outdoor to Release Fourth Quarter and Full Year Fiscal 2023 Financial Results

Vista Outdoor Inc. ("Vista Outdoor") (NYSE: VSTO) today announced plans to report its fourth quarter and fiscal year 2023 financial results on Wednesday, May 3, 2023, after the market closes. Following the earnings release, Vista Outdoor's management will host a conference call on Thursday, May 4, 2023, at 9 a.m. EDT to review results. In addition to the results, the company expects to discuss its outlook and financial guidance and may discuss matters of strategy during the call.

04/13/2023VSTO

Is Vista Outdoor Inc. (NYSE:VSTO) Potentially Undervalued?

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03/28/2023VSTO

Vista Outdoor Testifies Before Congress on Slate of Recreation Bills

Vista Outdoor Inc. (NYSE: VSTO), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor products to consumers around the globe, announced that Fred C. Ferguson, Vice President, Public Affairs and Communications, Vista Outdoor, on Tuesday, March 28, delivered remarks before United States House of Representatives Subcommittee on Federal Lands, asking leadership in Washington to pass several ground-breaking recreation bills.

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