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Once upon a time,
American Outdoor Brands (NASDAQ:AOUT) was Smith & Wesson, the gunsmith. Then, it expanded beyond guns to build an outdoor camping and sporting equipment business. And then it spun off its firearms division (giving back its name,
Smith & Wesson Brands) to focus
entirely on sporting goods.
Today, that s looking like a pretty smart decision, as American Outdoor Brands shares soar 15% through 10:40 a.m. EST after the company reported blowout earnings for the second quarter of fiscal 2021.
Image source: Getty Images.
So what
Analysts had forecast that American Outdoor Brands would earn just $0.25 per share, pro forma, in fiscal Q2, on sales of $61 million. Instead, the company reported last night that Q2 earnings were $0.77 on sales of $79.1 million a sizable earnings beat.
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American Outdoor Brands Rises on Strong Earnings, Outlook
American Outdoor Brands posts strong fiscal second-quarter earnings and lifts its outlook.
Author:
Shares of American Outdoor Brands (
AOUT) - Get Report traded higher Wednesday after the provider of outdoor products and accessories for hunting, fishing, camping, shooting, personal security posted fiscal second-quarter earnings higher than a year earlier and raised its outlook for fiscal 2021.
Shares of the Columbia, Mo., company rose 10.98% to $17.58 in trading Wednesday.
American Outdoor reported earnings of $7.33 million, or 52 cents a share, compared with a year-earlier loss of $393,000, or 3 cents a share.
For the quarter ended Oct. 31, revenue rose 65.6% to $79 million from $47.74 million a year earlier.