Sportsman’s Warehouse Holdings Inc (NASDAQ:SPWH) reported in-line earnings for the third quarter on Thursday.

The company posted quarterly earnings of 8 cents per share which met the analyst consensus estimate. The company reported quarterly sales of $331.323 million which beat the analyst consensus estimate of $331.120 million.

Sportsman’s Warehouse said it now expects FY25 net sales to be flat to up slightly and anticipates adjusted EBITDA to be in the range of $22 million-$26 million.

“This quarter we delivered our third consecutive period of positive same-store sales growth, driven by strong performance in our hunting, fishing, firearms, and personal protection categories, while continuing to gain share in a highly promotional and challenging retail environment,” said Paul Stone, Chief Executive Officer of Sportsman’s Warehouse. “We were also pleased in early November to open our new Surprise, Arizona location — our 11th store in the state — which marks our first personal protection-focused concept in a market where we have a proven track record of strong performance. This strategically located store represents our only planned opening for both 2025 and 2026 and reflects our commitment to thoughtful capital management.”

Sportsman’s Warehouse shares dipped 34.7% to trade at $1.60 on Friday.

These analysts made changes to their price targets on Sportsman’s Warehouse following earnings announcement.

• Baird analyst Peter Benedict maintained Sportsman’s Warehouse with a Neutral and lowered the price target from $3.5 to $2.
• Roth Capital analyst Matt Koranda maintained the stock with a Buy and cut the price target from $4.25 to $2.25.

Considering buying SPWH stock? Here’s what analysts think:

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