Investors Cheer Weber's Q3 Earnings, FY21 Outlook

Weber Inc WEBR reported third-quarter FY21 sales growth of 19% year-on-year, to $668.87 million, missing the analyst consensus of $669.20 million.
Sales in the Americas increased 8% Y/Y, EMEA rose 35%, and APAC climbed 25%.
The operating margin was 5.4%, and operating income for the quarter fell 63.2% to $36.1 million.
Adjusted EBITDA of $134 million increased 10% Y/Y.
EPS was $32.84 versus $142.69 last year.
Weber held $146 million in cash and equivalents as of June 30, 2021. Net cash provided by operating activities for the nine months totaled $74.5 million.
Outlook: Weber sees FY21 sales to grow 28%-29% to $1.96 billion - $1.97 billion versus the consensus of $1.96 billion.
It sees Adjusted EBITDA of $305 million - $310 million, up 35%-37% from last year.
Price action: WEBR shares are trading higher by 3.52% at $14.41 on the last check Wednesday.