Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at American Outdoor Brands (NASDAQ:AOUT) and the best and worst performers in the leisure products industry.
Leisure products cover a wide range of goods in the consumer discretionary sector. Maintaining a strong brand is key to success, and those who differentiate themselves will enjoy customer loyalty and pricing power while those who don’t may find themselves in precarious positions due to the non-essential nature of their offerings.
The 16 leisure products stocks we track reported a mixed Q1; on average, revenues beat analyst consensus estimates by 4.3%. while next quarter's revenue guidance was 3.5% below consensus. Stocks, especially growth stocks where cash flows further in the future are more important to the story, had a good end of 2023. But the beginning of 2024 has seen more volatile stock performance due to mixed inflation data, and leisure products stocks have held roughly steady amidst all this, with share prices up 2.3% on average since the previous earnings results.
American Outdoor Brands (NASDAQ:AOUT) Spun off from Smith and Wesson in 2020, American Outdoor Brands (NASDAQ:AOUT) is an outdoor and recreational products company that offers firearms and firearm accessories.
American Outdoor Brands reported revenues of $46.3 million, up 9.7% year on year, exceeding analysts' expectations by 7.3%. Overall, it was a mixed quarter for the company. American Outdoor Brands blew past analysts' revenue expectations. On the other hand, its EPS missed.
Brian Murphy, President and Chief Executive Officer, said, "I am very pleased with our performance for fiscal 2024, a year in which we delivered year-over-year net sales growth that exceeded our expectations and achieved several strategic milestones which, we believe, position our company and our brands well for the future. Innovation remains core to our strategy, and in fiscal 2024, innovation helped drive growth by allowing us to forge strong relationships with our consumers and retailers and expand our access to new markets. Our results were especially notable given the environment of consumer uncertainty that characterized fiscal 2024."
The stock is up 3.5% since reporting and currently trades at $9.13.
Is now the time to buy American Outdoor Brands? Find out by reading the original article on StockStory, it's free.
Best Q1: Harley-Davidson (NYSE:HOG) Founded in 1903, Harley-Davidson (NYSE:HOG) is an American motorcycle manufacturer known for its heavyweight motorcycles designed for cruising on highways.
Harley-Davidson reported revenues of $1.73 billion, down 3.3% year on year, outperforming analysts' expectations by 28.4%. It was an impressive quarter for the company with a decent beat of analysts' earnings estimates.
Harley-Davidson delivered the biggest analyst estimates beat among its peers. Although it had a great quarter compared its peers, the market seems unhappy with the results as the stock is down 8.9% since reporting. It currently trades at $35.91.
Weakest Q1: Ruger (NYSE:RGR) Founded in 1949, Ruger (NYSE:RGR) is an American manufacturer of firearms for the commercial sporting market.
Ruger reported revenues of $136.8 million, down 8.5% year on year, falling short of analysts' expectations by 10.8%. It was a weak quarter for the company with some shareholders hoping for a better result.
Ruger had the weakest performance against analyst estimates in the group. As expected, the stock is down 5% since the results and currently trades at $44.
Malibu Boats (NASDAQ:MBUU) Founded in California in 1982, Malibu Boats (NASDAQ:MBUU) is a manufacturer of high-performance sports boats and luxury watercrafts.
Malibu Boats reported revenues of $203.4 million, down 45.8% year on year, falling short of analysts' expectations by 1.5%. Overall, it was a weak quarter for the company with a miss of analysts' earnings estimates.
Malibu Boats had the slowest revenue growth among its peers. The stock is up 16% since reporting and currently trades at $38.34.
Acushnet (NYSE:GOLF) Producer of the acclaimed Titleist Pro V1 golf ball, Acushnet (NYSE:GOLF) is a design and manufacturing company specializing in performance-driven golf products.
Acushnet reported revenues of $707.6 million, up 3.1% year on year, surpassing analysts' expectations by 2.7%. Zooming out, it was a decent quarter for the company with a narrow beat of analysts' earnings estimates but a miss of analysts' Titleist Balls revenue estimates.
The stock is up 7.1% since reporting and currently trades at $67.66.
This content was originally published on Stock Story
