Johnson Outdoors reported a 5% sales increase for Q3 2025, driven by fishing growth, while net income rose significantly.
Quiver AI Summary
Johnson Outdoors Inc. reported a 5% increase in net sales for its third fiscal quarter ending June 27, 2025, reaching $180.7 million, driven primarily by an 8% rise in fishing revenue due to successful new product launches. However, sales in Camping & Watercraft Recreation declined by 14% due to the exit from the Eureka! business. The company achieved an operating profit of $7.3 million, compared to an operating loss of $0.5 million in the same period last year, and improved gross margin to 37.6%. Year-to-date sales decreased by 6.2% to $456.7 million, and the company experienced a net loss of $5.2 million. Despite these challenges, the company's focus on innovation, digital growth, and operational efficiency remains crucial for future profitability, as emphasized by CEO Helen Johnson-Leipold and CFO David W. Johnson in their comments on the financial results. The company also introduced award-winning new products, such as the Humminbird XPLORE fish finder series, at the 2025 ICAST fishing show.
Potential Positives
- Total Company net sales increased by 5% to $180.7 million compared to the prior year’s third fiscal quarter, indicating positive sales growth.
- Operating profit improved significantly to $7.3 million, recovering from an operating loss of $0.5 million in the previous year's third quarter.
- Net income reached $7.7 million, or $0.75 per diluted share, a notable increase from $1.6 million, or $0.16 per diluted share, in the previous year's third quarter.
- The Company reported a quarterly cash dividend approved by the Board of Directors, reflecting confidence in financial stability and shareholder value.
Potential Negatives
- Despite a 5% increase in total net sales for the third quarter, the year-to-date net sales show a significant 6.2% decrease over the previous year, indicating a declining trend.
- The Camping & Watercraft Recreation segment experienced a considerable 14% drop in sales, raising concerns about the company's performance in this category, especially following the exit from the Eureka! business.
- Year-to-date net loss of $5.2 million contrasts sharply with a net income of $7.7 million in the previous year, highlighting a significant downturn in financial performance.
FAQ
What were Johnson Outdoors' third quarter net sales for fiscal 2025?
Net sales for Johnson Outdoors in the third quarter of fiscal 2025 were $180.7 million, a 5% increase from the previous year.
How did fishing revenue perform in the latest quarter?
Fishing revenue increased by 8% in the third quarter due to the success of new product launches.
What impact did the Eureka! business exit have on sales?
Excluding the Eureka! business, Camping & Watercraft Recreation sales would have improved by 3% year over year.
What was Johnson Outdoors' net income for the third quarter?
The net income for Johnson Outdoors in the third quarter was $7.7 million, or $0.75 per diluted share.
What did Johnson Outdoors announce regarding dividends in July 2025?
In July 2025, Johnson Outdoors announced a quarterly cash dividend payable to shareholders on July 24, 2025.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$JOUT Hedge Fund Activity
We have seen 51 institutional investors add shares of $JOUT stock to their portfolio, and 61 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FIRST EAGLE INVESTMENT MANAGEMENT, LLC added 54,531 shares (+106.2%) to their portfolio in Q1 2025, for an estimated $1,354,550
- OLSTEIN CAPITAL MANAGEMENT, L.P. removed 54,000 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $1,341,360
- KENNEDY CAPITAL MANAGEMENT LLC added 46,730 shares (+51.8%) to their portfolio in Q1 2025, for an estimated $1,160,773
- DIAMOND HILL CAPITAL MANAGEMENT INC added 46,301 shares (+523.6%) to their portfolio in Q1 2025, for an estimated $1,150,116
- GAMCO INVESTORS, INC. ET AL added 41,717 shares (+11.7%) to their portfolio in Q1 2025, for an estimated $1,036,250
- RUSSELL INVESTMENTS GROUP, LTD. removed 35,310 shares (-19.9%) from their portfolio in Q1 2025, for an estimated $877,100
- MARSHALL WACE, LLP added 34,395 shares (+345.4%) to their portfolio in Q1 2025, for an estimated $854,371
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
RACINE, Wis., Aug. 01, 2025 (GLOBE NEWSWIRE) -- Johnson Outdoors Inc. (Nasdaq:JOUT) , a leading global innovator of outdoor recreation equipment and technology, today announced operating results for the Company’s third fiscal quarter ending June 27, 2025.
“While the marketplace continues to fluctuate, this quarter’s positive results emphasize the importance of our focus and investment on delivering market-winning innovation,” said Helen Johnson-Leipold, Chairman and Chief Executive Officer. “Importantly, we continue to make progress against our strategic priorities—innovation, digital and ecommerce, and operational efficiency—which are critical to achieving our goal of delivering future healthy profitable growth.”
THIRD
QUARTER RESULTS
Total Company net sales in the third quarter increased 5 percent to $180.7 million compared to $172.5 million in the prior year third fiscal quarter.
- Fishing revenue increased 8 percent due to continued success of new products
- Camping & Watercraft Recreation sales were down 14 percent, primarily due to the exit of the Eureka! Business. Excluding the impact of the Eureka! sales in the prior year quarter, sales would have improved 3 percent year over year
- Diving showed a 7 percent increase in revenue due to stronger market conditions and favorable currency translation which had a 2 percent positive impact on sales
Total Company operating profit was $7.3 million for the third fiscal quarter versus operating loss of $0.5 million in the prior year third quarter. Gross margin improved to 37.6 percent, compared to 35.8 percent in the prior year quarter, primarily due to improved overhead absorption driven by higher sales volumes in addition to lower discounting of product in the current year quarter. Operating expenses of $60.6 million decreased $1.7 million from the prior year period, due primarily to lower promotions and professional services expense, partially offset by increased expense on the Company’s deferred compensation plan.
Profit before income taxes was $10.5 million in the current year quarter, compared to $0.9 million in the prior year third quarter. In addition to the improvement in operating profit noted above, there was an increase in Other Income of approximately $2.0 million due primarily to an increase in earnings on the Company’s deferred compensation plan. Net income was $7.7 million, or $0.75 per diluted share, versus $1.6 million, or $0.16 per diluted share in the previous year’s third quarter. The effective tax rate was an expense of 26.3 percent compared to a benefit of 78.8 percent in the prior year third quarter.
YEAR-TO-DATE RESULTS
Fiscal 2025 year-to-date net sales were $456.7 million, a 6.2 percent decrease over last year’s first fiscal nine-month period. Total Company operating loss declined to $8.0 million, compared to a loss of $0.7 million in the prior fiscal year-to-date period. Gross margin decreased slightly to 34.8 percent, compared to 36.2 percent in the prior year-to-date period. Operating expenses were $167.0 million in the nine-month period ending June 27, 2025, a decrease of $9.8 million from the prior year due to the same factors noted above for the quarter.
Loss before income taxes for the year-to-date period was $4.3 million, versus profit before income taxes of $9.8 million in the first nine months of the prior year. In addition to the decline in operating profit, Other Income decreased by $6.2 million, primarily due to a decrease in earnings on the Company’s deferred compensation plan of approximately $3.9 million. In addition, the prior year-to-date period included a gain on the sale of the building of approximately $1.9 million. Net loss during the first fiscal nine months was $5.2 million, or $0.52 per diluted share, versus net income of $7.7 million, or $0.75 per diluted share, in the prior fiscal year-to-date period. The Company’s effective tax rate was a tax benefit of 22.8 percent in the current year versus a tax expense of 21.2 percent in the prior year nine-month period.
OTHER FINANCIAL INFORMATION
The Company reported cash and short-term investments of $161.0 million as of June 27, 2025, versus $148.4 million at June 28, 2024. Depreciation and amortization were $15.3 million in the nine months ending June 27, 2025, compared to $14.8 million in the prior nine-month period. Capital spending totaled $11.8 million in the current quarter compared with $16.4 million in the prior year period. In June 2025, the Company’s Board of Directors approved a quarterly cash dividend to shareholders of record as of July 10, 2025, which was payable July 24, 2025.
“We continue to benefit from our ongoing focus on improved operational efficiency, helping us to strengthen margins and effectively manage working capital. While the tariff environment remains uncertain, we continue to work through short- and long-term strategies to mitigate the potential increases in costs. Our focus is on ending the year with our brands well-positioned for the future,” said David W. Johnson, Chief Financial Officer.
PRODUCT NEWS
Humminbird
®
received “Best of Electronics” honors at the 2025 ICAST, the world’s most prestigious fishing show, with the brand’s new XPLORE fish finder series. XPLORE eliminates the complexity traditionally associated with advanced electronics, delivering a sleek touchscreen interface backed by customizable shortcut keys and a lightning-fast quad-core processor. More than just fast, it’s responsive—adapting in real time so anglers spend less time navigating menus and more time fishing. Integration with Minn Kota
®
means anglers can easily connect their XPLORE with the best trolling motors and shallow water anchors, offering seamless integration and an enhanced experience.
WEBCAST
The Company will host a conference call and audio web cast at 11:00 a.m. Eastern Time on Friday, August 1, 2025. A live listen-only web cast of the conference call may be accessed at Johnson Outdoors’ home page or
here
. A replay of the call will be available for 30 days on the Internet.
About Johnson Outdoors Inc.
J OHNSON O UTDOORS is a leading global innovator of outdoor recreation equipment and technologies that inspire more people to experience the awe of the great outdoors. The company designs, manufactures and markets a portfolio of winning, consumer-preferred brands across four categories: Watercraft Recreation, Fishing, Diving and Camping. Johnson Outdoors' iconic brands include: Old Town ® canoes and kayaks; Carlisle ® paddles; Minn Kota ® trolling motors, shallow water anchors and battery chargers; Cannon ® downriggers; Humminbird ® marine electronics and charts; SCUBAPRO ® dive equipment; and Jetboil ® outdoor cooking systems.
Visit Johnson Outdoors at http://www.johnsonoutdoors.com
Safe Harbor Statement
Certain matters discussed in this press release are “forward-looking statements,” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact are considered forward-looking statements. These statements may be identified by the use of forward-looking words or phrases such as "anticipate," "believe," "confident," "could," "expect," "intend," "may," "planned," "potential," "should," "will," "would" or the negative of those terms or other words of similar meaning. Such forward-looking statements are subject to certain risks and uncertainties, which could cause actual results or outcomes to differ materially from those currently anticipated. Factors that could affect actual results or outcomes include the matters described under the caption “Risk Factors” in Item 1A of the Company’s Form 10-K filed with the Securities and Exchange Commission on December 11, 2024, and the following: changes in economic conditions, consumer confidence levels and discretionary spending patterns in key markets; uncertainties stemming from political instability (and its impact on the economies in jurisdictions where the Company has operations), uncertainties stemming from changes in U.S. trade policies, tariffs, and the reaction of other countries to such changes; the global outbreaks of disease, such as the COVID-19 pandemic, which has affected, and may continue to affect, market and economic conditions, along with wide-ranging impacts on employees, customers and various aspects of our operations; the Company’s success in implementing its strategic plan, including its targeted sales growth platforms, innovation focus and its increasing digital presence; litigation costs related to actions of and disputes with third parties, including competitors; the Company’s continued success in its working capital management and cost-structure reductions; the Company’s success in integrating strategic acquisitions; the risk of future write-downs of goodwill or other long-lived assets; the ability of the Company’s customers to meet payment obligations; the impact of actions of the Company’s competitors with respect to product development or enhancement or the introduction of new products into the Company’s markets; movements in foreign currencies, interest rates or commodity costs; fluctuations in the prices of raw materials or the availability of raw materials or components used by the Company; any disruptions in the Company’s supply chain as a result of material fluctuations in the Company’s order volumes and requirements for raw materials and other components, or the demand for those same raw materials and components by third parties, necessary to manufacture and produce the Company’s products including related to shortages in procuring necessary raw materials and components to manufacture and produce such products; the success of the Company’s suppliers and customers and the impact of any consolidation in the industries of the Company’s suppliers and customers; the ability of the Company to deploy its capital successfully; unanticipated outcomes related to outsourcing certain manufacturing processes; unanticipated outcomes related to litigation matters; and adverse weather conditions. Shareholders, potential investors and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included herein are only made as of the date of this filing. The Company assumes no obligation, and disclaims any obligation, to update such forward-looking statements to reflect subsequent events or circumstances.
JOHNSON OUTDOORS INC. | ||||||||||||
(thousands, except per share amounts) | ||||||||||||
THREE MONTHS ENDED | NINE MONTHS ENDED | |||||||||||
Operating results | June 27, 2025 | June 28, 2024 | June 27, 2025 | June 28, 2024 | ||||||||
Net sales | $ | 180,655 | $ | 172,472 | $ | 456,653 | $ | 486,972 | ||||
Cost of sales | 112,728 | 110,650 | 297,677 | 310,865 | ||||||||
Gross profit | 67,927 | 61,822 | 158,976 | 176,107 | ||||||||
Operating expenses | 60,597 | 62,328 | 166,984 | 176,820 | ||||||||
Operating profit (loss): | 7,330 | (506 | ) | (8,008 | ) | (713 | ) | |||||
Interest income, net | (878 | ) | (1,086 | ) | (2,421 | ) | (3,063 | ) | ||||
Other (income) expense, net | (2,292 | ) | (327 | ) | (1,318 | ) | (7,468 | ) | ||||
Profit (loss) before income taxes | 10,500 | 907 | (4,269 | ) | 9,818 | |||||||
Income tax expense (benefit) | 2,758 | (715 | ) | 975 | 2,085 | |||||||
Net income (loss) | $ | 7,742 | $ | 1,622 | $ | (5,244 | ) | $ | 7,733 | |||
Weighted average common shares outstanding - Dilutive | 10,293 | 10,249 | 10,280 | 10,232 | ||||||||
Net income (loss) per common share - Diluted | $ | 0.75 | $ | 0.16 | $ | (0.52 | ) | $ | 0.75 | |||
Segment Results | ||||||||||||
Net sales: | ||||||||||||
Fishing | $ | 140,679 | $ | 130,537 | $ | 358,042 | $ | 379,637 | ||||
Camping & Watercraft Recreation | 18,908 | 21,997 | 46,211 | 52,971 | ||||||||
Diving | 21,201 | 19,861 | 52,705 | 54,263 | ||||||||
Other / Eliminations | (133 | ) | 77 | (305 | ) | 101 | ||||||
Total | $ | 180,655 | $ | 172,472 | $ | 456,653 | $ | 486,972 | ||||
Operating profit (loss): | ||||||||||||
Fishing | $ | 14,553 | $ | 5,258 | $ | 15,761 | $ | 24,214 | ||||
Camping & Watercraft Recreation | 1,588 | 2,031 | 2,188 | 1,534 | ||||||||
Diving | 1,576 | 898 | 255 | 22 | ||||||||
Other / Eliminations | (10,387 | ) | (8,693 | ) | (26,212 | ) | (26,483 | ) | ||||
Total | $ | 7,330 | $ | (506 | ) | $ | (8,008 | ) | $ | (713 | ) | |
Balance Sheet Information (End of Period) | ||||||||||||
Cash, cash equivalents and short-term investments | $ | 161,022 | $ | 148,369 | ||||||||
Accounts receivable, net | 81,993 | 79,593 | ||||||||||
Inventories, net | 163,732 | 223,160 | ||||||||||
Total current assets | 420,073 | 461,005 | ||||||||||
Long-term investments | — | 2,237 | ||||||||||
Total assets | 634,473 | 679,825 | ||||||||||
Total current liabilities | 105,562 | 99,293 | ||||||||||
Total liabilities | 184,009 | 181,156 | ||||||||||
Shareholders’ equity | 450,464 | 498,669 | ||||||||||
David Johnson | Patricia Penman |
VP & Chief Financial Officer | Chief Marketing Officer |
262-631-6600 | 262-631-6600 |