Shares of Vista Outdoor Inc. /zigman2/quotes/205852373/composite VSTO -6.43% shot up 17% in morning trading Thursday, putting them on track for the 2nd-biggest one-day gain since they went public in January 2015, after the ammunition and outdoor recreation equipment maker's fiscal third-quarter earnings rose well above expectations. The company, which brands include Camelbak, Bushnell and American Eagle, swung to net income of $14.6 million, or 25 cents a share, from a loss of $514.6 million, or $8.94 a share, in the year-ago period, which included an impairment charge. Excluding non-recurring items, adjusted earnings per share rose to 21 cents from 9 cents, above the FactSet consensus of 14 cents. sales fell 9.2% to $424.8 million, above the FactSet consensus of $424.0 million, with outdoor products sales down 2% to $222 million and shooting sports sales falling 16% to $202 million. The company revised its fiscal 2020 guidance ranges for adjusted EPS to 15 cents to 20 cents from 10 cents to 25 cents and for sales to $1.75 billion to $1.80 billion from $1.75 billion to $1.85 billion. The stock, on track for the biggest one-day gain since the record rally of 31% on Nov. 7, 2019 following second-quarter results, has still declined 6.6% over the past 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.24% has advanced 22.5%.