$AOUT reports Q3 2023 results with focus on e-commerce and long-term strategy
Mar 9th 2023, 9:06 pm
Analyst Summary: American Outdoor Brands, Inc. (AOUT), the leading provider of outdoor products and accessories for rugged outdoor enthusiasts, reported its third-quarter fiscal 2023 financial results on March 9, 2023. Despite a 30% decline in net sales seen in the Shooting Sports category, e-commerce sales were up by 37%. Gross margin increased to 47% compared to 45% for the comparable quarter last year. The company strengthened its balance sheet by demonstrating effective capital deployment and made important strategic investments to support future growth. The CEO, Brian Murphy, stated that the company's brands remain well-positioned to capitalize on positive, long-term consumer outdoor participation trends. While there remain inventory level concerns, the company plans to continue its long-term strategy and expand organically and through strategic acquisitions. The company will host a conference call to discuss its Q3 fiscal 2023 results on March 9, 2023 at 5:00 p.m. Eastern Time. However, given the caution expressed by the company about the short-term headwinds, investors need to monitor the company's performance closely.