Johnson Outdoors Reports Fiscal Third Quarter Results

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Johnson Outdoors (JOUT) Misses Q3 EPS by 55c, Revenues Miss

July 31, 2020 6:21 AM EDT

Johnson Outdoors (NASDAQ: JOUT) reported Q3 EPS of $1.27, $0.55 worse than the analyst estimate of $1.82. Revenue for the quarter came in at $138.4 million versus the consensus estimate of $157.6 million.

THIRD QUARTER RESULTS

Typically the third quarter is the primary selling season for our warm weather outdoor recreation products; however, due to COVID-19, customer inventory and replenishment and consumer sell-through patterns have shifted. Total Company net sales declined 21.5 percent to $138.4 million, versus $176.3 million in the prior year third quarter.

Strong demand in Fishing throughout May and June was not enough to offset... More