Vista Outdoor Reports Second Quarter FY24 Financial Results
November 1, 2023
Vista Outdoor Inc. reported financial results for the second quarter of Fiscal Year 2024 (FY24), which ended on September 24, 2023.
Sales decreased $105 million to $677 million, down 13 percent, driven by lower shipments across nearly all categories in the Sporting Products segment. Gross profit declined 21 percent to $209 million and gross profit margin decreased 270 basis points to 30.9 percent primarily due to decreased volume and price in the Sporting Products segment and decreased volume in the organic Outdoor Products businesses, partially offset by acquisitions. Operating expenses were $133 million, up 1 percent, primarily driven by increased selling, general, and administrative expenses from acquired businesses. Operating income decreased 42 percent to $76 million. Net income decreased 53 percent to $44 million. Net income margin decreased 539 basis points to 6.6 percent. Businesswire