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Sep 30, 2022
Johnson Outdoors Q4 2022 Earnings Report
Johnson Outdoors experienced increased sales but slightly decreased operating profit in Q4 2022.
Key Takeaways
Johnson Outdoors reported an 18% increase in net sales for the fiscal fourth quarter, driven by improved supply availability in the Fishing business. However, operating profit declined slightly due to increased material costs and inventory reserves.
Total Company net sales increased by 18% in the fiscal fourth quarter.
Operating profit declined slightly compared to the prior year fourth quarter.
Gross margin decreased due to increased material costs and inventory reserves.
The company remains focused on managing inventory levels and addressing inflationary pricing conditions.
Johnson Outdoors
Johnson Outdoors
Forward Guidance
Heading into fiscal 2023, the company remains focused on closely monitoring demand and proactively managing higher-than-normal inventory levels. The company expects some supply chain constraints to periodically occur during fiscal 2023 and for margins to continue to be impacted by inflationary pricing conditions.
Positive Outlook
- Improvement in the supply chain for raw materials and purchased components
- Balance sheet and healthy cash position provide flexibility and resources
- Focus on strategic opportunities to strengthen the business
- Consistent dividend payments to shareholders
Challenges Ahead
- Expect some supply chain constraints to periodically occur during fiscal 2023
- Margins to continue to be impacted by inflationary pricing conditions
- Closely monitoring demand
- Proactively managing higher-than-normal inventory levels