American Outdoor Brands Corporation (NASDAQ: AOBC) is slated to report first quarter 2020 earnings results on Thursday, August 29, after the closing bell. Analysts expect the company to report earnings of $0.07 per share on revenue of $127 million.
The firearms industry had been experiencing weakness due to a spate of shooting tragedies and the resultant restrictions on firearms sales and calls for tougher gun control rules. The market appears to be seeing a slow recovery from this slump with a slight increase in the number of background checks for gun buyers.
The company has been trying to focus more on its outdoor-related products and this segment is expected to help drive growth going forward. For the first quarter, the weakness in firearms is expected to result in lower revenue and earnings for the company.
In the fourth quarter of 2019, American Outdoor beat revenue and earnings estimates. Sales rose 2.2% to $175.7 million while adjusted EPS rose 8.3% to $0.26.
For the first quarter of 2020, the company has guided for sales of $120-130 million and adjusted EPS of $0.03-0.07. For the full year of 2020, revenue is forecasted to be $630-650 million and adjusted EPS is estimated to be $0.76-0.84.
Shares of American Outdoor have fallen 39% thus far this year and 19% in the past one month. The stock was up 1.6% in afternoon hours on Monday.
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