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Jan 01, 2021
Johnson Outdoors Q1 2021 Earnings Report
Johnson Outdoors reported higher sales and earnings due to strong demand in Fishing, Camping, and Watercraft Recreation businesses.
Key Takeaways
Johnson Outdoors reported a strong first fiscal quarter with net sales increasing by 29% to $165.7 million and net income rising to $19.8 million, driven by high demand in the Fishing, Camping, and Watercraft Recreation segments.
Net sales increased by 29% year over year to $165.7 million.
Operating profit was $23.6 million, significantly higher than the prior year's $6.8 million.
Net income increased to $19.8 million, or $1.96 per diluted share, compared to $6.4 million, or $0.64 per diluted share, in the previous year.
The company reported cash and short-term investments of $195.9 million as of January 1, 2021.
Johnson Outdoors
Johnson Outdoors
Forward Guidance
The company will manage risks associated with global supply chain pressures and logistics constraints caused by the COVID-19 pandemic while continuing to invest in the business.
Positive Outlook
- People’s eagerness to get outdoors will continue through the season.
- Focused on working hard to keep pace with demand.
- Leveraging market-leading brands and innovation.
- Maximize the heightened interest in outdoor recreation.
- Debt-free balance sheet and healthy cash position provide a competitive advantage.
Challenges Ahead
- COVID-19 pandemic still brings uncertainty.
- Manage risks associated with current global supply chain pressures.
- Manage related logistics constraints caused by the COVID-19 pandemic.
- Uncertainties stemming from political instability.
- Changes in U.S. trade policies, tariffs, and the reaction of other countries to such changes.