Sportsman's Warehouse achieved modest year-over-year revenue growth and improved margins in Q3 2025, with adjusted earnings rising and same-store sales up. GAAP net income was essentially flat, but adjusted EBITDA and adjusted EPS both increased.
Revenue rose to $331.3 million, up from $324.3 million a year ago
Same-store sales grew 2.2%, outperforming adjusted NICS data
Gross margin improved 100 basis points to 32.8%
Adjusted net income reached $3.0 million; adjusted EPS was $0.08
The company lowered full-year 2025 sales guidance due to softening consumer demand, while emphasizing focus on inventory discipline, liquidity, and free cash flow.
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