Sportsman’s Warehouse sees FY24 revenue $1.15B -$1.23B, conssensus $1.27B

During 2024, the Company will be providing guidance on an annual basis, versus its past cadence of quarterly guidance, as it focuses its efforts on returning to profitability. For fiscal year 2024, the Company expects net sales to be in the range of $1.15B to $1.23B and adjusted EBITDA to be in the range of $45Mto $65M. The Company also expects capital expenditures for 2024 to be in the range of $20M to $25M, primarily consisting of technology investments relating to merchandising and store productivity. No new store openings are currently anticipated. Jeff White, Chief Financial Officer of Sportsman’s Warehouse said, “Despite the challenging macroeconomic environment, we expect to generate significant EBITDA and excess free cash flow in 2024 while at the same time investing in our business. During the fourth quarter we used our excess cash flow to reduce our line of credit by $59.4 million. Our continued focus on tightly managing our inventory, as well as costs throughout the organization, will allow us to further reduce our bank borrowings, and in doing so, reduce our interest expense.”