Overview

• Outdoor recreation equipment maker's fiscal Q2 revenue rose 16% yr/yr

• Adjusted EPS for fiscal Q2 rose to $0.89 from $0.22 yr/yr

• Growth driven by improved retail conditions and innovation across all segments

Outlook

• Johnson Outdoors did not provide specific financial guidance for the current or upcoming periods

Result Drivers

• FISHING SEGMENT GROWTH - Fishing revenue rose 18% due to improved trade conditions, stronger competitive position, and pricing

• GROSS MARGIN IMPROVEMENT - Gross margin rose to 38.8% from 35.0%, mainly due to improved overhead absorption and cost savings

• ECOMMERCE AND MARKET CONDITIONS - Camping & Watercraft Recreation sales were up 1% due to increased ecommerce sales; Diving sales rose 9% driven by improved market conditions and ecommerce growth

Company press release: ID:nGNX57F2QP

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 Sales	Beat	$194.48 mln	$185.09 mln (1 Analyst)
Q2 EPS		$0.89
Q2 Net Income		$9.41 mln
Q2 Gross Profit		$75.49 mln
Q2 Operating Income		$10.35 mln
Q2 Pretax Profit		$10.21 mln

Analyst Coverage

• Wall Street's median 12-month price target for Johnson Outdoors Inc is $55.00, about 2.8% above its May 7 closing price of $53.50

• The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 30 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.