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Aug. 8, 2019, 9:17 a.m. EDT

Vista Outdoor stock plunges toward record low after wider-than-expected loss, lowered sales guidance

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By Tomi Kilgore

Shares of Vista Outdoor Inc. /zigman2/quotes/205852373/composite VSTO +0.97% plunged 11% toward a record low in premarket trading Thursday, after the outdoor sport and ammunition company reported a wider-than-expected loss, sales that fell more than analysts projected and provided a downbeat full-year outlook, citing continued and "unprecedented" challenges in its markets. The net loss for the quarter to June 30 narrowed to $16.6 million, or 29 cents a share, from $52.3 million, or 91 cents a share, in the same period a year ago. Excluding non-recurring items, the adjusted per share loss was 8 cents, wider than the FactSet loss consensus of 3 cents a share. Sales fell 13% to $459.8 million, below the FactSet consensus of $471.4 million. The company cut its fiscal 2020 sales guidance range to $1.79 billion to $1.89 billion from $1.94 billion to $2.03 billion, and said it expects adjusted EPS of 10 cents to 25 cents, which surrounds the FactSet consensus of 22 cents. "We are mitigating unprecedented challenges while making continued progress to a more growth-centric Vista Outdoor," said Chief Executive Chris Metz. The stock has tumbled 15.9% over the past three months through Wednesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.51% has edged up 0.2%.

$ 9.33
+0.09 +0.97%
Volume: 641,812
April 3, 2020 6:30p
P/E Ratio
Dividend Yield
Market Cap
$539.99 million
Rev. per Employee
-38.25 -1.51%
Volume: 3.59B
April 3, 2020 5:10p

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