American Outdoor Brands reports Q3 non-GAAP EPS 8c vs. 13c last year

Reports Q3 revenue $53.4M vs.$50.9M last year. CEO Brian Murphy said, “We delivered a solid quarter, and I am very pleased with our results, which included top line sales growth, disciplined capital management, and the unveiling of several strategically important product introductions that we believe expand our brands’ runway for growth…We delivered net sales growth of 5%, a result that came in ahead of our expectations and was supported by our diverse portfolio…new products launched within the past two years generated over 22% of our Q3 net sales…” CFO Andrew Fulmer said, “In Q3 of FY24, we delivered net sales growth, we strengthened our balance sheet, we lowered product inventories both internally and within the channel, and we continued to return cash to stockholders through our share repurchase program. At the same time, we finalized the lease expansion at our Columbia, Missouri headquarters and distribution facility, providing us with capacity for future growth. We ended the quarter with $15.9M in cash and no debt, after repurchasing approximately $1.8M of our common stock…we continue to believe that our net sales for FY24 could exceed FY23 net sales by as much as 3.5%”.