Shares of Vista Outdoor Inc. /zigman2/quotes/205852373/composite VSTO +15.52% plunged 21% in premarket trading Thursday, after the ammunition and outdoor gear company reported a first-quarter adjusted profit that beat expectations but revenue that missed and provided a downbeat second-quarter outlook. "Overall, the impact of the COVID-19 pandemic on our operations in the fourth quarter was minimal," said Chief Executive Chris Metz. "We experienced stronger than expected demand in many of our categories, including commercial ammunition, bicycle helmets and accessories, and outdoor cooking." The net loss widened to $141.2 million, or $2.44 a share, from $48.6 million, or 84 cents a share, in the year-ago period. Excluding non-recurring items, such as a $156 million impairment charge, adjusted earnings per share came to 11 cents, above the FactSet consensus of 6 cents. Revenue fell 17.3% to $426.3 million, below the FactSet consensus of $454.9 million, as shooting sports sales declined 21% and outdoor products sales fell 9%. For the fiscal first quarter, the company expects a per-share loss of 5 cents to breakeven, while the FactSet consensus is for EPS of 7 cents, and expects revenue of $370 million to $400 million, which is below the FactSet consensus of $471 million. Vista's stock has rallied 29.7% year to date through Wednesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.01% has declined 11.8%.