Sportsmans Warehouse (NASDAQ: SPWH) reported Q2 EPS of $0.18, $0.02 better than the analyst estimate of $0.16. Revenue for the quarter came in at $203.3 million versus the consensus estimate of $201.69 million.

Jon Barker, Chief Executive Officer, stated, “We are pleased with our second quarter performance as our top line results were in line with expectations, including a comparable sales increase of 0.2%, and bottom line results were a penny above our outlook driven by our better than expected gross margins. We made good progress on the priorities we set at the start of the year including our omni-channel strategy of store growth and e-commerce investment, customer acquisition and engagement and merchandising assortment. These strategic growth initiatives combined with our convenient shopping experience, breadth of assortment and category expertise are fueling continued market share gains as we focus on enhancing our competitive positioning.”

For the thirteen weeks ended August 4, 2018:

• Net sales increased by 6.2% to $203.3 million from $191.5 million in the second quarter of fiscal year 2017. Same store sales increased by 0.2% from the comparable prior year period.
• Income from operations was $13.2 million compared to $14.2 million in the second quarter of fiscal year 2017.
• The Company opened two new stores in the second quarter of fiscal 2018 and ended the quarter with 91 stores in 23 states, or square footage growth of 6.5% from the end of the second quarter of fiscal year 2017.
• Interest expense increased to $4.3 million from $3.4 million in the second quarter of fiscal year 2017. Excluding a $1.6 million write off in debt discount and deferred financing fees associated with the Company’s old term loan, interest expense was $2.7 million in the second quarter of fiscal 2018.
• Net income of $6.6 million was flat with the second quarter of fiscal year 2017. Adjusted net income, which excludes the write-off of deferred financing fees and debt discount associated with the Company’s old term loan, was $7.8 million compared to adjusted net income of $6.6 million for the second quarter of fiscal year 2017 (see “GAAP and Non-GAAP Measures”).
• Diluted earnings per share of $0.15 was flat with the second quarter of fiscal year 2017. Adjusted diluted earnings per share was $0.18 compared to adjusted diluted earnings per share of $0.15 in the second quarter of fiscal year 2017 (see “GAAP and Non-GAAPMeasures”).
• Adjusted EBITDA was $19.0 million compared to $20.4 million in the second quarter of fiscal year 2017 (see "GAAP and Non-GAAP Measures").

GUIDANCE:

Sportsmans Warehouse sees FY2018 EPS of $0.57-$0.63, versus the consensus of $0.60. Sportsmans Warehouse sees FY2018 revenue of $841-857 million, versus the consensus of $850.8 million.

For earnings history and earnings-related data on Sportsmans Warehouse (SPWH) click here.