American Outdoor Brands reported higher-than-expected revenues for the fiscal fourth quarter but break-even earnings missed estimates sending its shares lower on Friday.
For the quarter ended April 30, 2024, the manufacturer of outdoor sports and recreation products posted revenue of $46.3 million.
This was up by 9.7% or $4.1 million from the year-ago quarter and about 7% higher than expected by Wall Street analysts.
It reported breakeven earnings per share, missing the Street consensus of $0.01.
For the full year, sales rose 5.2% to $201.1 million and adjusted EPS was $0.32, down from $0.48 in the year-ago quarter.
"I am very pleased with our performance for fiscal 2024, a year in which we delivered year-over-year net sales growth,” that exceeded our expectations and achieved several strategic milestones which, we believe, position our company and our brands well for the future,” American Outdoor Brands CEO Brian Murphy said in a statement.
“Our results were especially notable given the environment of consumer uncertainty that characterized fiscal 2024."
Shares of American Outdoor Brands traded down 0.6% at $8.77 late morning on Friday.