Why Vista Outdoor Stock Just Crashed Nearly 30%
Vista Outdoor (NYSE: VSTO), a maker of outdoor sporting goods and also ammunition for firearms (but no longer the firearms themselves), reported its fiscal fourth-quarter 2020 earnings this morning, sending its shares down 29.4% by 11:15 a.m. EDT.
Vista "missed" on its sales for the quarter, reporting $426 million in revenue versus the $456 million Wall Street had expected. Vista did beat on earnings, however, with pro forma profits coming in a nickel above the $0.06 a share that analysts predicted.
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Source Fool.com
