FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., Oct. 20, 2022 /PRNewswire/ — The global hunting accessories market has come across quite a few very positive developments in the last few years and experts project steady growth through 2029. The rising popularity of outdoor recreational activities across the globe is likely to drive the global hunting accessories market. Hunting and fishing activities are regarded as an important part of many cultures across the globe. In North America, hunting is an important recreational activity in which many take part. Sale of hunting licenses generate substantial revenue for conservation of wildlife and management of habitat. Hunting accessories include Ravin Crossbows, Cellular Trail Cameras, Archery Compound Bows, Vortex Optics, and Hunting Deals. A recent report from TMR Research said: “The rising emphasis on healthy lifestyle is estimated to act in favor of the market over the timeframe of assessment through 2029.” It continued: “The global hunting accessories market is primarily driven by shifting preference toward healthy lifestyle. As such, healthy recreational activities such as hunting have gained momentum in the recent years. Sale of hunting licenses is another factor that is generating substantial revenue for the market. Active Companies in the markets today include American Rebel Holdings, Inc. (NASDAQ: AREB), Clarus Corporation (NASDAQ: CLAR), American Outdoor Brands, Inc. (NASDAQ: AOUT), Smith & Wesson Brands, Inc. (NASDAQ: SWBI), Vista Outdoor Inc. (NYSE: VSTO).
Market vendors are increasingly generating innovative and new designs of ammunition with augmented focus on preservation of habitat and conservation of environment. End users are now increasingly opting for lead-free ammunitions as compared to conventional lead ammunitions due its adverse impact on the wildlife, water bodies, and the environment as a whole. Manufacturers are also making an offer of subsonic ammunition that decreases the speed and keeps it below speed of sound. As such, it ensures minimum generation of sound at the time of hunting. Such innovative ammunition designs are likely to fuel growth of the global hunting accessories market in the years to come. In addition, growing popularity of online sale of hunting products coupled with the rapid growth of the tourism industry is likely to support growth of the global hunting accessories market over the projection timeframe (through) 2029.”
American Rebel Holdings, Inc. (NASDAQ: AREB) BREAKING NEWS: American Rebel Forecasts $5 Million in Pro Forma Q3 Revenue – On Target to Exceed $20 Million in Annual Pro Forma Revenue – American Rebel Holdings, Inc. – America’s Patriotic Brand announced today it anticipates reporting approximately $5 million in pro forma Q3 gross revenue and approximately $14.7 million in pro forma revenue for the nine-months ended September 30, 2022.
Revenue for Q3, including only the revenue earned by the Champion entities after the closing of the acquisition on July 29, 2022, is projected to be nearly $4 million. American Rebel acquired Champion Safe Company and its ancillary companies in a transaction with a purchase price of approximately $9.9 million.
American Rebel expects to file its September 30, 2022, 10-Q with the Securities and Exchange Commission on or before November 14, 2022. In its June 30, 2022, 10-Q American Rebel reported $9.7 million in pro forma revenue for the first six-months of 2022.
“We’re on target to exceed $20 million in annual pro forma revenue for 2022,” said Andy Ross, CEO of American Rebel. “Integrating the Champion and American Rebel operations has been going great and we expect continued growth. We are actively evaluating potential synergistic acquisitions or partnerships and are bullish about the future of America’s Patriotic Brand.” CONTINUED… Read this full release for American Rebel at: www.americanrebel.com/investor-relations
Other recent developments in the markets include:
The board of directors for Clarus Corporation (NASDAQ: CLAR), a global company focused on the outdoor and consumer enthusiast markets, has recently approved Thrivent Asset Management, LLC (“Thrivent”) to be permitted under the Company’s Rights Agreement, dated as of February 12, 2008, to increase its beneficial ownership in Clarus to up to an aggregate of 9.9% of the Company’s outstanding shares of common stock.
Thrivent has beneficial ownership of 1,533,554 shares of the Company’s common stock, as publicly disclosed by Thrivent in the Schedule 13F for the quarter ended June 30, 2022, filed by it with the Securities and Exchange Commission on August 16, 2022, which represents approximately 4.1% of the Company’s outstanding shares of common stock.
The Company’s determination to authorize Thrivent’s request to raise their stake is conditioned upon, and subject to, Thrivent not increasing its beneficial ownership to more than 9.9% of the Company’s outstanding shares of common stock, Thrivent remaining continuously eligible to report its ownership of the Company’s common stock on Schedule 13G, and Thrivent increasing its position to in excess of 4.9%, at its discretion, within the next twelve months. In the event that Thrivent subsequently reduces its beneficial ownership to below 4.9%, Thrivent would need to obtain a new approval from the Company’s board of directors before seeking to again increase its beneficial ownership to in excess of 4.9% of the Company’s outstanding shares of common stock.
American Outdoor Brands, Inc. (NASDAQ: AOUT), an industry leading provider of products and accessories for rugged outdoor enthusiasts, recently announced financial results for the first quarter fiscal 2023 ended July 31, 2022.
Brian Murphy, President and Chief Executive Officer, said, “Given recent industry and economic conditions, I am pleased with our first quarter results, which reflect our ability to deliver net sales growth of over 31% above our pre-pandemic levels of fiscal 2020 while marking a number of achievements that support our strategic priorities and which reflect our dedication to building authentic, lifestyle brands that help consumers make the most out of the moments that matter.”
“During the quarter, our e-commerce net sales grew nearly 24% year over year, supported by strength in our direct-to-consumer business, which includes MEAT! Your Maker meat processing equipment and Grilla grills. Together, these two brands generated over 15% of our net sales in Q1 and helped our Outdoor Lifestyle category generate over 53% of our total net sales in the quarter. We consider our direct-to-consumer sales to be one gauge of how well our brands are resonating with consumers since those sales are not impacted by retailer issues, such as inventory levels or limited open-to-buy. We remain excited about growth opportunities within our Outdoor Lifestyle category, which consists of products related to hunting, fishing, camping, and rugged outdoor activities, and which delivered two-year growth of 26.5% over the first quarter of fiscal 2021 and three-year growth of 54.2% over the pre-pandemic first quarter of fiscal 2020.”
Smith & Wesson Brands, Inc. (NASDAQ: SWBI), a U.S.-based leader in firearm manufacturing and design, recently announced financial results for the first quarter fiscal year 2023, ended July 31, 2022.
First Quarter Fiscal 2023 Financial Highlights Were: Net sales were $84.4 million, a decrease of $190.2 million, or 69.3%, from the comparable quarter last year, and $11.0 million, or 11.6%, lower than the comparable quarter in fiscal 2020; Gross margin was 37.3% compared with 47.3% in the comparable quarter last year and 37.3% in the comparable quarter in fiscal 2020. Excluding relocation costs, gross margin would have been 38.8%; GAAP net income was $3.3 million, or $0.07 per diluted share, compared with $76.9 million, or $1.57 per diluted share, for the comparable quarter last year, and with $2.2 million, or $0.04 per diluted share, for the comparable quarter in fiscal 2020; Non-GAAP net income was $5.1 million, or $0.11 per diluted share, compared with $77.1 million, or $1.57 per diluted share, for the comparable quarter last year, and with $2.2 million, or $0.04 per diluted share, for the comparable quarter in fiscal 2020. GAAP to non-GAAP adjustments for income exclude costs related to the planned relocation of our headquarters and certain manufacturing and distribution operations to Tennessee, the spin-off of the outdoor products and accessories business in fiscal 2021, COVID-19 related expenses, and other costs. For a detailed reconciliation, see the schedules that follow in this release; and Non-GAAP Adjusted EBITDAS was $15.7 million, or 18.5% of net sales, compared with $109.6 million, or 39.9% of net sales, for the comparable quarter last year, and with $17.3 million, or 18.2% of net sales, for the comparable quarter in fiscal 2020.
Vista Outdoor Inc. (NYSE: VSTO) recently announced plans to release its second quarter fiscal year 2023 financial results on Wednesday, November 2, 2022, after the market closes. Following the earnings release, Vista Outdoor’s management will host a conference call on Thursday, November 3, 2022 at 9:00 a.m. EDT to review results.
The conference call will be broadcast live over the Internet and can be accessed at: http://investors.vistaoutdoor.com/event. For those unable to listen to the live webcast, an archived version will be available at the same location. A telephone recording of the conference call will be available by dialing 1-866-813-9403 and entering the access code: 713731. The telephone recording will be available until Thursday, December 1, 2022.
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