Stock Story -
Outdoor recreational products company Johnson Outdoors (NASDAQ:JOUT) will be reporting results tomorrow before the bell. Here's what to expect.
Johnson Outdoors missed analysts' revenue expectations by 1.3% last quarter, reporting revenues of $138.6 million, down 22.3% year on year. It was a slower quarter for the company, with a miss of analysts' revenue estimates.
Is Johnson Outdoors a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Johnson Outdoors's revenue to decline 21.5% year on year to $158.8 million, a reversal from the 6.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.50 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Johnson Outdoors has missed Wall Street's revenue estimates three times over the last two years.
Looking at Johnson Outdoors's peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Harley-Davidson's revenues decreased 3.3% year on year, beating analysts' expectations by 28.4%, and Brunswick reported a revenue decline of 21.7%, in line with consensus estimates. Harley-Davidson traded down 11.9% following the results while Brunswick was also down 5.8%.
Read the full analysis of Harley-Davidson's and Brunswick's results on StockStory.
Growth stocks have been quite volatile since the start of 2024, and while some of the consumer discretionary stocks have fared somewhat better, they have not been spared, with share prices down 6.1% on average over the last month. Johnson Outdoors is down 8.6% during the same time and is heading into earnings with an average analyst price target of $66 (compared to the current share price of $41.09).
