Why Shares of Vista Outdoor Jumped Higher Today
Shares of Vista Outdoor (NYSE: VSTO) traded up 25% on Thursday afternoon, and were up as much as 33% midday, after the sporting goods accessories manufacturer reported quarterly results. They were mixed, and Vista Outdoor cut its guidance for fiscal 2020, but investors had been worried the report would be much worse than it was.
Vista reported break-even adjusted earnings per share, ahead of the consensus estimate for a $0.10 per share loss, on revenue of $445 million that beat the consensus by more than 3%. The company's outdoor products division generated sales of $234 million for the quarter, down 14% from the same three months of last year, while revenue at the shooting-sports division was down 23% year over year to $211 million.
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Source Fool.com
