Vista Outdoor Slashes Annual Outlook Below View; Stock Down About 20% In Pre-market

(RTTNews) - Vista Outdoor Inc. (VSTO), a maker of outdoor sports and recreational products, on Monday said it revised down its full-year 2024 guidance below estimates from its previous outlook announced on July 26, citing persisting challenging economic conditions.

Following the news, VSTO was trading down by 19.97 percent at $26.25 per share in the pre-market trade on the New York Stock Exchange.

For full year, the company now expects net earnings per share or EPS of $3.37 to $3.77 versus its previous outlook of $4.38 to $4.88.

Excluding items, the sports firms now projects EPS to be in the range of $3.65 to $4.05, lesser than its previous expectation of $4.50 to $5.

On average, 5 analysts polled by Thomson Reuters project the firm to register EPS of $4.69 per share. Analysts' estimates typically exclude special items.

Vista Outdoor now sees sales of $2.725 billion-$2.825 billion compared with its previous expectation of $2.85 billion-$2.95 billion.

Analysts, on average, forecast VSTO to post revenue of $2.87 billion, for the year.