Q4 2024 American Outdoor Brands Inc Earnings Call Transcript
Key Points
- American Outdoor Brands Inc (AOUT) achieved year-over-year net sales growth of over 5%, exceeding expectations.
- The company expanded its international presence, particularly in Canada, driving total international sales to over $12 million, a growth of more than 35%.
- The MEAT! brand successfully entered the retail channel, and the Grilla brand is set to follow, indicating strong future retail growth.
- Innovation remains a core strength, with new products generating over 23% of net sales in fiscal 2024.
- The company ended the fiscal year debt-free with nearly $30 million in cash, demonstrating strong financial health and disciplined capital management.
- E-commerce sales declined slightly due to lower orders from the largest online retailer.
- Gross margins decreased by 210 basis points to 44%, mainly due to higher tariff and freight costs, increased promotional activity, and tariff drawback adjustments.
- Adjusted EBITDA decreased to $9.8 million from $12.8 million in the previous fiscal year.
- The Shooting Sports category faced headwinds, with adjusted mix background checks coming in 5.4% lower than the prior year.
- Operating expenses remained high at $100.9 million, driven by higher variable selling, distribution, and compensation costs.
Good day, everyone, and welcome to the American Outdoors Brand, Inc., fourth quarter and full year fiscal 2024, financial results conference call. This call is being recorded and at this time, I would like to turn the call over to Liz Sharp, Vice President of Investor Relations, for some information about today's call.
Thank you, and good afternoon.
Our comments today may contain predictions, estimates and other forward-looking statements. Our use of words like anticipate, project, estimate, expect, intend, should, could, indicate, suggest, believe and other similar expressions is intended to identify those forward-looking statements.
Forward-looking statements also include statements regarding our product development, focus, objectives, strategies and vision, our strategic evolution, our market share and market demand for our products, market and inventory conditions related to our products and in our industry in general and growth opportunities and trends.
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