Johnson Outdoors stock jumps 2.7% premarket after revenue beat driven by strength in fishing business

Johnson Outdoors Inc. stock JOUT rose 2.7% in premarket trade Friday, after the maker of outdoor recreation equipment topped revenue estimates for its fiscal first quarter, thanks to strength in its fishing business. The Racine, Wisc.-based company posted net income of $5.9 million, or 47 cents a share, for the quarter to Dec. 30, down from $10.9 million, or $1.07 a share, in the year-earlier period. Revenue climbed 16% to $178.3 million.

07 a share, in the year-earlier period. Revenue climbed 16% to $178.3 million. The FactSet consensus was for EPS of 57 cents and revenue of $168 million. “We saw positive momentum in our Fishing business as supply constraints continued to ease and we worked hard to fill customer orders,” Chief Executive Helen Johnson-Leipold said in a statement. The camping and watercraft business saw some softening after a pandemic-driven increase in demand in the last few years, she said.

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Fonte: CNBC - 🏆 12. / 72 Leggi di più »