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Vista Outdoor stock surges on big earnings beat, with ammunition driving 49% jump in shooting sports sales

Shares of Vista Outdoor Inc. (VSTO) shot up 6.0% in premarket trading Thursday, after the outdoor and shooting sports products company reported big fiscal second-quarter profit and sales beats, with particular strength in the shooting sports segment, and provided an upbeat full-year outlook. Net income for the quarter to Sept. 26 rose to $139.5 million, or $2.36 a share, from $79.6 million, or $1.34 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.41 beat the FactSet consensus of $1.78. Sales grew 35.3% to $778.5 million, above the FactSet consensus of $722.6 million. Shooting sports sales rose 49% to $566 million, boosted by 65% growth in ammunitions, while outdoor products sales increased 9% to $212 million, as CamelBak and Action Sports led double-digit percentage growth in Outdoor Recreation. For fiscal 2022, the company expects adjusted EPS of $7.70 to $8.00, above the FactSet consensus of $6.13, and sales of $2.90 billion to $2.95 billion, compared with expectations of $2.78 billion. The stock had run up 82.7% year to date through Wednesday, while the S&P 500 has advanced 24.1%.

-Tomi Kilgore

 

(END) Dow Jones Newswires

11-04-21 0615ET

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