American Outdoor Brands reports Q4 non-GAAP EPS 6c, consensus (13c)

Reports Q4 revenue $42.2M, consensus $39.28M. CEO Brian Murphy said, “I am proud of the achievements we made in FY23, especially given the uncertain macroeconomic environment that the year presented. On a three-year basis, we delivered net sales growth of more than 14% over our pre-pandemic levels, reflecting strength in our e-commerce channel, and driven primarily by growth of almost 34% in our outdoor lifestyle category…In FY23, we completed several strategic objectives, including the implementation of a new ERP system with the successful go-live of Microsoft D365; the establishment of a new analytics platform with the launch of Microsoft Power BI; the consolidation of our facilities in Oregon, Texas, and Michigan into our Missouri facility; and the finalization of a full lease takeover at our Missouri facility slated for January 2024, which will provide increased distribution capacity for long-term organic and inorganic growth…” CFO Andrew Fulmer said, “In FY23, we strengthened our balance sheet, generated significant operating cash flow, remained disciplined with cost control, invested in our long-term growth, and demonstrated effective capital deployment, all while navigating market challenges with consumer demand and cautious retailer inventory management…Turning to our outlook, we believe that our brands remain well positioned to capitalize on positive, long-term consumer outdoor participation trends. As a result, we believe that our net sales for FY24 could exceed FY23 net sales by as much as 3.5%. We also believe our solid financial position enables us to continue executing on our long-term strategic plan as we invest in our business, return capital to stockholders, and address the exciting growth opportunities we have identified for our company.”