What happened
Shares of Johnson Outdoors Inc. (JOUT 1.45%) were moving higher today after the outdoor equipment company posted impressive second-quarter results. As of 1:49 p.m. EDT, the stock was up 16%.
So what
The parent of brands including Old Town canoes and Eureka tents and camping gear said that revenue in the quarter increased 11.6% to $149.8 million, easily beating expectations of $137.6 million. On the bottom line, meanwhile, earnings per share climbed 50% to $1.39, blowing past estimates of $0.92.
Image source: Johnson Outdoors.
Johnson's performance was strong across the board as CEO Helen Johnson-Leipold pointed to improvements in areas like fishing, watercraft, and diving. She said, "Excitement in the market for Johnson Outdoors' innovative new product line is giving us a great start to the year and positioning us for continued growth and success."
Fishing, which is by far the company's biggest category, showed off the strongest growth, with sales increasing 16%.
Now what
The company did not provide earnings guidance, but momentum looks strong going into the key summer season after the double-digit revenue. The strengthening economy should also favor a company like Johnson as Americans have more money to spend on discretionary items. Both of these factors mean that faster revenue and profit growth should continue for the rest of the fiscal year.
