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Mar 31, 2023
Johnson Outdoors Q2 2023 Earnings Report
Johnson Outdoors reported increased sales and net income compared to the prior year.
Key Takeaways
Johnson Outdoors announced a 7% increase in net sales to $202.1 million and a rise in net income to $14.9 million, or $1.45 per diluted share, for the second fiscal quarter ending March 31, 2023. The results were driven by improved supply chain conditions and increased travel in the Diving business, while the Camping and Watercraft Recreation businesses experienced softer markets.
Net sales increased by 7% to $202.1 million compared to the prior year.
Net income rose to $14.9 million, or $1.45 per diluted share, versus $9.9 million, or $0.97 per diluted share, in the previous year’s second quarter.
Gross margin improved to 37.3 percent, compared to 36.2 percent in the prior year quarter, due to price increases and efficiencies from increased sales volumes.
The company sold the Military and Commercial Tents product lines in the Camping segment for a gain of $6.6 million.
Johnson Outdoors
Johnson Outdoors
Forward Guidance
The company remains focused on sustaining innovation leadership while monitoring consumer demand and navigating uncertainties in the marketplace.