Bulletin
Investor Alert

New York Markets Close in:

Market Pulse Archives

Nov. 9, 2017, 7:19 a.m. EST

Vista Outdoor's stock tumbles after sales miss and slashed outlook offsets profit beat

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Vista Outdoor Inc. (VSTO)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of Vista Outdoor Inc. /zigman2/quotes/205852373/composite VSTO 0.00% tumbled 7.8% in premarket trade Thursday, after the gun and outdoor sports products company beat fiscal second-quarter profit expectations, but missed on sales and slashed its full-year outlook. For the quarter to Oct. 1, the company swung to a net loss of $114.7 million, or $2.01 a share, from net income of $73.2 million, or $1.22 a share, in the same period a year ago. Excluding non-recurring items, such as cost for current and possible transactions, adjusted earnings per share came to 34 cents, above the FactSet consensus of 27 cents. Revenue fell to $587.3 million from $684.3 million, missing the FactSet consensus of $588.8 million. The company cut its fiscal 2018 guidance ranges for adjusted EPS to 50 cents to 60 cents from $1.10 to $1.30 and for revenue to $2.24 billion to $2.26 billion from $2.36 billion to $2.42 billion. "During the second quarter, the competitive environment in ammunition, firearms and shooting-related accessories continued to impact our business," said Chief Financial Officer Stephan Nolan. He expects the market contraction will have more impact in the second half of the year than the first. Separately, the company named Michael Callahan as chairman. The stock has plunged 17.5% over the past three months through Wednesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.07% has gained 4.9%.

/zigman2/quotes/205852373/composite
US : U.S.: NYSE
$ 6.40
0.00 0.00%
Volume: 105,852
Oct. 16, 2019 10:31a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$369.63 million
Rev. per Employee
$370,951
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
2,993.60
-2.08 -0.07%
Volume: 337.29M
Oct. 16, 2019 10:32a
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.