American Outdoor Brands reports Q1 non-GAAP EPS 1c, consensus 0c

Reports Q1 revenue $43.4M, consensus $42.23M. Brian Murphy, CEO, said, “I am pleased with our Q1 FY24 results, which reflected solid execution in sales, profitability, and capital management, combined with ongoing progress against our long-term strategic objectives. Net sales were generally flat compared with the prior year, a result that met our expectations and reflected growth of nearly 31% over our pre-pandemic Q1 of FY20… While e-commerce net sales declined in the quarter, traditional channel net sales growth was strong, supported by new product introductions in hunting and fishing under our BOG and BUBBA brands.” CFO Andrew Fulmer said, “In 1Q24, we further strengthened our balance sheet, generated strong operating cash flow and free cash flow, and continued to demonstrate effective capital deployment. We generated operating cash flow of $5.2M in the quarter, paid down the remaining $5.0M on our $75.0M expandable line of credit, and repurchased $2.3M of our stock. We ended the first quarter with a cash balance of $18.7M and zero debt. Turning to our outlook, we believe our brands remain well positioned to capitalize on positive, long-term consumer outdoor participation trends. As a result, we continue to believe that our net sales for FY24 could exceed FY23 net sales by as much as 3.5%.”