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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 -2.01% 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 -0.39% has edged up 0.2%.

/zigman2/quotes/205852373/composite
US : U.S.: NYSE
$ 6.33
-0.13 -2.01%
Volume: 244,609
Oct. 18, 2019 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$365.58 million
Rev. per Employee
$370,951
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/zigman2/quotes/210599714/realtime
US : S&P US
2,986.20
-11.75 -0.39%
Volume: 1.99B
Oct. 18, 2019 5:08p
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