Johnson Outdoors Stock Gains As Q3 Earnings Smashes Estimates On Strong Demand

Johnson Outdoors Inc JOUT reported third-quarter FY21 sales growth of 54.3% year-on-year, to $213.57 million, beating the analyst consensus of $198.68 million.
Net sales from Fishing increased 51% Y/Y, Camping grew 84%, Watercraft Recreation increased 30%, and Diving rose 93%.
Gross profit rose 55.9% Y/Y to $97.5 million with a profit margin of 45.7%.
Operating expenses increased 20% Y/Y to $59.4 million.
The operating margin was 17.8%, and operating income for the quarter rose 195% to $38.1 million.
The company held $249 million in cash and equivalents as of July 2, 2021.
EPS of $2.83 beat the analyst consensus of $2.50.
"Momentum in Fishing, Camping and Watercraft Recreation continued, and as pandemic-related travel restrictions are being lifted, our work to strengthen the SCUBAPRO brand has been paying off as Diving begins to recover," said CEO Helen Johnson-Leipold.
Price action: JOUT shares are trading higher by 5.10% at $124.17 on the last check Monday.

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