- Feb. 6 (Tue): #15; vol. 1.0M
Vista Outdoor beats by $0.06, beats on revs; reaffirms FY18 EPS guidance, revs guidance
- Reports Q3 (Dec) earnings of $0.13 per share, excluding non-recurring items, $0.06 better thanthe Capital IQ Consensus of $0.07; revenues fell 11.1% year/year to $581 mln vs the $566.98 mln Capital IQ Consensus.
- Co reaffirms guidance for FY18, sees EPS of $0.50-0.60, excluding non-recurring items, vs. $0.57 Capital IQ Consensus Estimate; sees FY18 revs of $2.24-$2.26 bln vs. $2.25 bln Capital IQ Consensus Estimate.
- Free cash flow of $175 million to $185 million (prior: $155 million to $175 million).
- "The company delivered solid third quarter results in a continuously challenging marketplace," said Vista Outdoor Chief Executive Officer Chris Metz. "We generated strong free cash flow, which enabled us to repay $108 million of debt. As I've said before, we must make significant changes, act decisively, and move quickly. During the quarter, we made great progress on key initiatives that will reposition the business. We also launched innovative new products across the portfolio that are resonating with our customers and end users. In line with our focus to improve profitability, we have begun to implement organizational changes, including streamlining corporate-level functions and improving business operations to maximize efficiency, drive brand-level decision making and improve accountability. We have also received strong interest on the sale of our eyewear business and are currently fielding inquiries."
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