Nasdaq: AOUT Investor Presentation December 2025 Leveraging our culture of innovation. Delivering solutions for the moments that matter. Required Disclosures Inthispresentation, certainnon-GAAPfinancialmeasures,including"non-GAAPnetincome"and"AdjustedEBITDA"arepresented.Areconciliationoftheseandothernon-GAAPfinancialmeasuresarecontainedattheendof thispressrelease.Fromtimetotime,theCompanyconsidersandusesthesenon-GAAPfinancialmeasuresassupplemental measuresofoperatingperformanceinordertoprovidethereaderwitha ...

Financial Performance - Net sales for the three months ended October 31, 2025, were $57.2 million, a decrease of $3.0 million or 5.0% compared to the same quarter last year[88] - Gross margin for the same period was 45.6%, down 240 basis points from the prior year[88] - Net income for the three months ended October 31, 2025, was $2.1 million, or $0.16 per diluted share, compared to $3.1 million, or $0.24 per diluted share, in the same quarter last year[88] - For the six months ended October 31, 2025, total net sales were $86.9 million, a decrease of $15.0 million or 14.7% from the prior year[94] - Gross margin for the six months ended October 31, 2025, was 46.0%, a decrease of 100 basis points from the prior year[94] - Operating income for the three months ended October 31, 2025 was $2.1 million, a decrease of $979,000 or 31.9% compared to the same period in 2024[101] - For the six months ended October 31, 2025, the company recorded an operating loss of $4.7 million, a decline of $5.2 million or 1,051.1% from an operating income of $497,000 in the prior year[102] - Net income for the three months ended October 31, 2025 was $2.1 million, down $1.036 million or 33.3% from $3.1 million in the same quarter of 2024[105] - The net loss for the six months ended October 31, 2025 was $4.8 million, a decrease of $5.5 million or 737.3% compared to net income of $746,000 in the prior year[106] Sales Channels - E-commerce channel net sales decreased by $3.9 million, or 15.9%, primarily due to lower sales to the world's largest online retailer[91] - Traditional channel net sales increased by $828,000, or 2.3%, driven by stronger sales in hunting and outdoor cooking products[92] - New products represented 31.4% of net sales for the three months ended October 31, 2025[92] Expenses and Cash Flow - Research and development expenses for the three months ended October 31, 2025, decreased by $644,000, or 34.5%[99] - Total operating expenses for the three months ended October 31, 2025, were $24.0 million, a decrease of $1.8 million or 7.1%[99] - Cash used in operating activities was $15.0 million for the six months ended October 31, 2025, an increase of $2.7 million or 22.1% from $12.3 million in the same period of 2024[112] - Total cash flow for the six months ended October 31, 2025 was $(20.3) million, a decline of $4.8 million or 31.3% compared to $(15.5) million in the prior year[112] Future Outlook - The company expects to spend approximately $4.0 million to $4.5 million on capital expenditures in fiscal 2026, compared to $3.9 million in fiscal 2025[115] - The company plans to utilize cash flows for business investments, including research and development for new product initiatives and potential acquisitions[111] Cash Position - As of October 31, 2025, the company had $3.1 million in cash equivalents on hand[118] Adjusted EBITDA - Adjusted EBITDA for the three months ended October 31, 2025 was $6.5 million, down from $7.5 million in the same period of 2024[110]

Financial Performance - Quarterly net sales were $57.2 million, a decrease of $3.0 million, or 5.0%, compared to $60.2 million in the same quarter last year[4] - Quarterly gross margin was 45.6%, down from 48.0% in the comparable quarter last year[4] - Quarterly GAAP net income was $2.1 million, or $0.16 per diluted share, compared to $3.1 million, or $0.24 per diluted share, in the same quarter last year[4] - Quarterly non-GAAP net income was $3.7 million, or $0.29 per diluted share, down from $4.9 million, or $0.37 per diluted share, in the same quarter last year[4] - The company reported a net loss of $4,754,000 for the six months ended October 31, 2025, compared to a net income of $746,000 in 2024[18] - For the six months ended October 31, 2025, GAAP net loss was $(4,754,000), compared to a profit of $746,000 in the same period of 2024[21] Sales and Revenue Outlook - The company expects full fiscal year net sales to decline by 13% to 14% from last year's $222 million, with an underlying decline of approximately 5%[7] - Third quarter net sales are expected to decline approximately 8% year over year[7] - New products drove over 31% of net sales, highlighting the strength of the innovation pipeline[5] - Net sales for the three months ended October 31, 2025, were $57,199,000, a decrease of 4.3% compared to $60,232,000 for the same period in 2024[16] Profitability and Margins - Gross margin for both the full year and the third quarter is expected to be in the range of 42% to 43%[7] - Adjusted EBITDA for the full year is expected to be in the range of 4.0% to 4.5% of net sales[7] - Non-GAAP net income for the three months ended October 31, 2025, was $3,712,000, compared to $4,857,000 in 2024, indicating a decline of 23.5%[20] - GAAP net income for Q2 2025 was $2,075,000, a decrease from $3,111,000 in Q2 2024[21] - Non-GAAP Adjusted EBITDA for Q2 2025 was $6,480,000, down from $7,487,000 in Q2 2024[21] Expenses and Costs - Research and development expenses for the three months ended October 31, 2025, were $1,222,000, down 34.5% from $1,866,000 in 2024[16] - Stock compensation expenses for the six months ended October 31, 2025, totaled $1,499,000, compared to $1,798,000 in the same period of 2024[21] - Interest expense increased to $75,000 in Q2 2025 from $6,000 in Q2 2024[21] - Income tax expense for Q2 2025 was $0, compared to $12,000 in Q2 2024[21] - Other expenses for Q2 2025 were $34,000, consistent with $34,000 in Q2 2024[21] Cash and Assets - The company ended the quarter debt-free with $3.1 million in cash and repurchased approximately 74,000 shares for $662,000[5] - Cash and cash equivalents decreased to $3,111,000 as of October 31, 2025, from $23,423,000 at the beginning of the period[18] - Total current assets remained relatively stable at $171,307,000 as of October 31, 2025, compared to $171,590,000 on April 30, 2025[14] - Total liabilities increased to $70,524,000 as of October 31, 2025, from $68,745,000 on April 30, 2025[14] - The company’s total equity decreased to $170,397,000 as of October 31, 2025, from $177,610,000 on April 30, 2025[14] Depreciation and Amortization - Depreciation and amortization for Q2 2025 was $3,418,000, slightly up from $3,293,000 in Q2 2024[21] Non-recurring Items - Non-recurring inventory reserve adjustment was $0 for both Q2 2025 and Q2 2024[21] - Emerging growth status transition costs were $0 for the six months ended October 31, 2025, compared to $163,000 in the same period of 2024[21]

Economic Indicators - Stock index futures are showing positive movement with S&P 500 futures up by 0.2%, Nasdaq 100 futures up by 0.2%, and Dow futures up by 0.1% as investors anticipate the retail inflation report [3] - The 10-year Treasury yield remains unchanged at 4.06%, while the 2-year yield is flat at 3.56% [4] - The Consumer Price Index (CPI) for August is expected to rise by 0.3% month-over-month, up from 0.2% in the previous month, with a year-over-year increase anticipated at 2.9%, compared to 2.7% in July [4] Gun Industry - Gun stocks have seen a rise following the shooting of conservative activist Charlie Kirk, with Smith & Wesson up 4.9% in premarket trading after a 6.7% increase on Wednesday [5][7] - American Outdoor Brands closed 5.3% higher and is slightly up in premarket, while Sturm, Ruger closed with a 3% gain and is up 7.4% postmarket [7] - The shooting incident is expected to drive demand for stricter gun control laws, historically leading to increased demand for firearms [6] Technology and Robotics - Ant Group has introduced its first humanoid robot, the R1 model, which can perform various tasks including serving as a tour guide and sorting medicine [8] - The R1 robot was demonstrated at the 2025 Inclusion Conference in Shanghai and is designed for end-to-end planning of complex assignments [8] Corporate Developments - Opendoor Technologies shares surged by 40% after the appointment of former Shopify COO Kaz Nejatian as CEO, with co-founders returning to the board [10] - Khosla Ventures and co-founder Eric Wu will invest $40 million in Opendoor through a private placement to support business growth [10]

Economic Indicators - Stock index futures are showing positive movement with S&P 500 futures up 0.2%, Nasdaq 100 futures up 0.2%, and Dow futures up 0.1% as investors anticipate the retail inflation report [3] - The 10-year Treasury yield remains unchanged at 4.06%, while the 2-year yield is flat at 3.56% [4] - The August Consumer Price Index (CPI) is expected to rise by 0.3% month-over-month, increasing from 0.2% in the previous month, with a year-over-year forecast of 2.9%, up from 2.7% in July [4] Gun Industry - Gun stocks have seen a rise following the shooting of conservative activist Charlie Kirk, with Smith & Wesson up 4.9% in premarket trading after a 6.7% increase on Wednesday [5][7] - American Outdoor Brands closed 5.3% higher and is slightly up in premarket, while Sturm, Ruger closed with a 3% gain and is up 7.4% postmarket [7] - The shooting incident is anticipated to drive demand for stricter gun control laws, historically leading to increased demand for firearms [6] Technology and Robotics - Ant Group has introduced its first humanoid robot, the R1 model, capable of performing various tasks such as serving as a tour guide and sorting medicine [8] - The R1 robot was demonstrated at the 2025 Inclusion Conference in Shanghai, showcasing its ability to handle complex assignments [8] Corporate Developments - Opendoor Technologies shares surged by 40% after the appointment of former Shopify COO Kaz Nejatian as CEO, with co-founders returning to the board [10] - Khosla Ventures and co-founder Eric Wu will invest $40 million in Opendoor through a private placement to support business growth [10]

Group 1 - The shooting of Charlie Kirk, a prominent conservative activist and ally of Trump, occurred during a speech in Utah, leading to a national outcry and a moment of mourning in Washington D.C. [1][3] - Kirk was a strong supporter of the Second Amendment and frequently opposed stricter gun control measures, making his death particularly significant in the ongoing gun control debate [3]. - Following the incident, there was a surge in gun purchases, with shares of firearm companies such as Smith & Wesson (SWBI.US) rising by 6.7% and American Outdoor (AOUT.US) increasing by 5.3% [3]. Group 2 - The event highlights the ongoing tensions surrounding gun violence in the U.S., as Kirk was questioned about gun violence just moments before the shooting [3]. - Local media reported that students had previously petitioned to cancel Kirk's speaking engagement, indicating a divided public sentiment regarding his views on gun rights [3].

Group 1 - The investment strategy focuses on long-only investment, evaluating companies from an operational and buy-and-hold perspective [1] - The approach does not prioritize market-driven dynamics or future price action, instead emphasizing long-term earnings power and competitive dynamics [1] - Most recommendations will be holds, indicating a cautious approach to market conditions, with only a small fraction of companies deemed suitable for purchase at any time [1] Group 2 - The articles aim to provide important information for future investors and introduce skepticism in a generally bullish market [1] - There is a clear distinction that the author's opinions do not constitute professional investment advice, and readers are encouraged to conduct their own due diligence [2][3]

Group 1 - U.S. stock futures showed mixed results, with Nasdaq futures gaining approximately 100 points on Friday [1] - American Outdoor Brands Inc reported a quarterly loss of 26 cents per share, missing the analyst consensus estimate of a loss of 25 cents per share [2] - The company's quarterly sales were reported at $29.702 million, falling short of the analyst consensus estimate of $35.773 million [2] - Following the earnings report, American Outdoor Brands shares dropped 18.4% to $8.45 in pre-market trading [2] Group 2 - Lululemon Athletica Inc experienced a decline of 17.5% to $170.00 in pre-market trading after lowering its FY25 guidance [4] - LifeVantage Corp saw a decrease of 14.5% to $11.50 in pre-market trading due to disappointing quarterly sales [4] - Quanex Building Products Corp fell 13.9% to $18.00 in pre-market trading after reporting worse-than-expected third-quarter adjusted EPS results [4] - Inventiva ADR declined 4.1% to $5.37 in pre-market trading [4] - Copart Inc dipped 3% to $48.52 in pre-market trading following its fourth-quarter results [4]

[Executive Summary & Company Overview](index=1&type=section&id=Executive%20Summary%20%26%20Company%20Overview) [First Quarter Fiscal 2026 Financial Highlights](index=1&type=section&id=First%20Quarter%20Fiscal%202026%20Financial%20Highlights) American Outdoor Brands, Inc. reported a significant decline in net sales for Q1 FY2026, primarily due to accelerated retailer orders in the prior quarter. Despite this, gross margin improved, though the company recorded increased GAAP and non-GAAP net losses and a negative Adjusted EBITDA Financial Highlights | Metric | Q1 FY2026 (July 31, 2025) | Q1 FY2025 (July 31, 2024) | Change ($) | Change (%) | | :----------------------- | :------------------------ | :------------------------ | :--------- | :--------- | | Net Sales | $29.7 million | $41.6 million | $(11.9) million | (28.7)% | | Gross Margin | 46.7% | 45.4% | +1.3 pp | | | GAAP Net Loss | $(6.8) million | $(2.4) million | $(4.4) million | (183.3)% | | GAAP EPS (Diluted) | $(0.54) | $(0.18) | $(0.36) | (200.0)% | | Non-GAAP Net Loss | $(3.3) million | $0.7 million | $(4.0) million | (571.4)% | | Non-GAAP EPS (Diluted) | $(0.26) | $0.06 | $(0.32) | (533.3)% | | Non-GAAP Adjusted EBITDA | $(3.1) million | $2.0 million | $(5.1) million | (255.0)% | | Adjusted EBITDA % of Sales | (10.5)% | 4.8% | -15.3 pp | | [About American Outdoor Brands, Inc.](index=4&type=section&id=About%20American%20Outdoor%20Brands%2C%20Inc.) American Outdoor Brands, Inc. is an innovation company providing product solutions for outdoor enthusiasts across various categories, marketing a diverse portfolio of well-known brands - The company provides product solutions for outdoor enthusiasts in categories including hunting, fishing, camping, shooting, meat processing, outdoor cooking, and personal security/defense[9](index=9&type=chunk) - Key brands include BOG®, BUBBA®, Caldwell®, Crimson Trace®, Frankford Arsenal®, Grilla Grills®, Hooyman®, Imperial®, LaserLyte®, Lockdown®, MEAT! Your Maker®, Old Timer®, Schrade®, Tipton®, Uncle Henry®, ust®, and Wheeler®[9](index=9&type=chunk) [Management Commentary & Business Update](index=1&type=section&id=Management%20Commentary%20%26%20Business%20Update) [CEO's Strategic Review](index=1&type=section&id=CEO%27s%20Strategic%20Review) The CEO highlighted strong consumer resonance and point-of-sale performance, noting that new products contributed significantly to net sales. He also addressed the impact of accelerated retailer orders from the previous quarter on current net sales, emphasizing the effectiveness of their strategy despite the reported decline - Brands continue to resonate with consumers, fueling stronger point-of-sale performance versus peers across several strategic product categories[3](index=3&type=chunk) - New products represented nearly **29% of net sales** during the first quarter[3](index=3&type=chunk) - Adjusting for approximately **$10 million** in accelerated retailer orders from Q1 FY2026 into Q4 FY2025, total first quarter net sales would have declined approximately **5%**, with traditional channel net sales increasing by about **15%**[3](index=3&type=chunk) [CFO's Financial Review](index=3&type=section&id=CFO%27s%20Financial%20Review) The CFO reiterated the impact of accelerated orders on net sales and emphasized the company's strong balance sheet, disciplined capital deployment through share repurchases, and debt-free status, providing flexibility for strategic objectives - Including approximately **$10 million** of net sales accelerated by retailers from Q1 FY2026 into Q4 FY2025, first-quarter fiscal 2026 net sales would have declined **4.7%** compared with the prior-year period[5](index=5&type=chunk) Share Repurchase Activity | Activity | Q1 FY2026 (July 31, 2025) | | :---------------- | :------------------------ | | Shares Repurchased | ~240,000 shares | | Cost | $2.5 million | - The company ended the first quarter debt-free with **$17.8 million** in cash, providing a strong financial foundation for growth opportunities[5](index=5&type=chunk) [Business Developments & Outlook](index=3&type=section&id=Business%20Developments%20%26%20Outlook) The company announced an expanded partnership for its BUBBA brand with Major League Fishing, aiming to accelerate recurring subscription revenue. Management anticipates continued shifting market conditions and evolving consumer trends, committing to agility, innovation, and strengthening retail partnerships - Expanded partnership between the BUBBA brand and Major League Fishing (MLF) to integrate MLF SCORETRACKER® technology into the BUBBA app, launching SCORETRACKER LIVE in Spring 2026[5](index=5&type=chunk) - This innovation is expected to accelerate recurring subscription revenue and extend BUBBA's reach[5](index=5&type=chunk) - The near-term environment is expected to reflect shifting market conditions and evolving consumer trends, requiring agility and adaptability, with a continued focus on innovation, consumer proximity, retail partnerships, and disciplined execution[5](index=5&type=chunk) [Detailed Financial Results](index=6&type=section&id=Detailed%20Financial%20Results) [Consolidated Statements of Operations](index=8&type=section&id=Consolidated%20Statements%20of%20Operations) For the three months ended July 31, 2025, the company reported a significant decrease in net sales and a higher net loss compared to the prior year, despite a slight improvement in gross profit margin Consolidated Statements of Operations (in millions) | Metric | Q1 FY2026 (July 31, 2025) | Q1 FY2025 (July 31, 2024) | | :---------------------- | :------------------------ | :------------------------ | | Net Sales | $29.702 million | $41.643 million | | Cost of Sales | $15.844 million | $22.717 million | | Gross Profit | $13.858 million | $18.926 million | | Operating Expenses | $20.677 million | $21.500 million | | Operating Loss | $(6.819) million | $(2.574) million | | Net Loss | $(6.829) million | $(2.365) million | | Basic and Diluted EPS | $(0.54) | $(0.18) | [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) As of July 31, 2025, total assets slightly decreased, while total liabilities increased compared to April 30, 2025. The company maintained a strong cash position and managed inventory levels Consolidated Balance Sheets (in millions) | Balance Sheet Item | July 31, 2025 (Unaudited) | April 30, 2025 | | :------------------------ | :------------------------ | :------------- | | Total Assets | $241.911 million | $246.355 million | | Total Liabilities | $74.073 million | $68.745 million | | Total Equity | $167.838 million | $177.610 million | | Cash and Cash Equivalents | $17.771 million | $23.423 million | | Accounts Receivable, net | $21.754 million | $39.337 million | | Inventories | $125.787 million | $104.717 million | [Consolidated Statements of Cash Flows](index=9&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the three months ended July 31, 2025, the company experienced net cash outflows from operating, investing, and financing activities, resulting in a net decrease in cash and cash equivalents Consolidated Statements of Cash Flows (in millions) | Cash Flow Activity | Q1 FY2026 (July 31, 2025) | Q1 FY2025 (July 31, 2024) | | :------------------------------ | :------------------------ | :------------------------ | | Net Cash Used in Operating Activities | $(1.688) million | $(4.352) million | | Net Cash Used in Investing Activities | $(0.370) million | $(1.105) million | | Net Cash Used in Financing Activities | $(3.594) million | $(0.778) million | | Net Decrease in Cash and Cash Equivalents | $(5.652) million | $(6.235) million | | Cash and Cash Equivalents, End of Period | $17.771 million | $23.463 million | [Non-GAAP Financial Measures](index=3&type=section&id=Non-GAAP%20Financial%20Measures) [Explanation of Non-GAAP Measures](index=3&type=section&id=Explanation%20of%20Non-GAAP%20Measures) The company presents non-GAAP financial measures like "non-GAAP net loss" and "Adjusted EBITDA" to provide a clearer understanding of underlying performance trends by excluding certain items such as amortization of acquired intangibles, stock compensation, and non-recurring adjustments - Non-GAAP measures are used as supplemental indicators of operating performance to provide an improved understanding of underlying performance trends[7](index=7&type=chunk) - Adjustments to GAAP measures typically exclude amortization of acquired intangible assets, stock compensation, non-recurring inventory reserve adjustments, emerging growth status transition costs, and income tax adjustments[7](index=7&type=chunk) - These non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for GAAP measures, as they do not reflect actual expenses and may inflate financial measures on a GAAP basis[8](index=8&type=chunk) [Reconciliation of GAAP to Non-GAAP Net Loss and EPS](index=10&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Net%20Loss%20and%20EPS) The reconciliation details the adjustments made to GAAP net loss and diluted EPS to arrive at the non-GAAP figures, primarily by adding back amortization of acquired intangible assets, stock compensation, and income tax adjustments Reconciliation of GAAP to Non-GAAP Net Loss and EPS (in millions, except EPS) | Metric | Q1 FY2026 (July 31, 2025) | Q1 FY2025 (July 31, 2024) | | :-------------------------------------- | :------------------------ | :------------------------ | | GAAP Net Loss | $(6.829) million | $(2.365) million | | Amortization of acquired intangible assets | $1.834 million | $2.119 million | | Stock compensation | $0.651 million | $0.932 million | | Non-recurring inventory reserve adjustment | — | $0.221 million | | Emerging growth status transition costs | — | $0.042 million | | Income tax adjustments | $1.039 million | $(0.201) million | | Non-GAAP Net (Loss)/Income | $(3.305) million | $0.748 million | | GAAP Net Loss per Share - Diluted | $(0.54) | $(0.18) | | Non-GAAP Net (Loss)/Income per Share - Diluted | $(0.26) | $0.06 | [Reconciliation of GAAP Net Loss to Non-GAAP Adjusted EBITDA](index=11&type=section&id=Reconciliation%20of%20GAAP%20Net%20Loss%20to%20Non-GAAP%20Adjusted%20EBITDA) The reconciliation from GAAP net loss to non-GAAP Adjusted EBITDA involves adding back interest income, income tax expense, depreciation and amortization, stock compensation, and non-recurring adjustments Reconciliation of GAAP Net Loss to Non-GAAP Adjusted EBITDA (in millions) | Metric | Q1 FY2026 (July 31, 2025) | Q1 FY2025 (July 31, 2024) | | :-------------------------------------- | :------------------------ | :------------------------ | | GAAP Net Loss | $(6.829) million | $(2.365) million | | Interest income | $(0.007) million | $(0.148) million | | Income tax expense | $0.052 million | $0.022 million | | Depreciation and amortization | $3.017 million | $3.284 million | | Stock compensation | $0.651 million | $0.932 million | | Non-recurring inventory reserve adjustment | — | $0.221 million | | Emerging growth status transition costs | — | $0.042 million | | Non-GAAP Adjusted EBITDA | $(3.116) million | $1.988 million | [Forward-Looking Statements & Investor Information](index=3&type=section&id=Forward-Looking%20Statements%20%26%20Investor%20Information) [Safe Harbor Statement](index=4&type=section&id=Safe%20Harbor%20Statement) The report includes a safe harbor statement for forward-looking statements, cautioning that actual results may differ materially due to various risks and uncertainties, including economic factors, supply chain disruptions, and market conditions - The press release contains forward-looking statements regarding future operating results, financial position, business strategy, and objectives[10](index=10&type=chunk) - These statements are qualified by important risks, uncertainties, and other factors that could cause actual results to differ materially, such as disruptions in material sourcing and manufacturing, economic and regulatory factors (e.g., tariffs), product recalls, inventory levels, and consumer spending[10](index=10&type=chunk)[11](index=11&type=chunk) [Conference Call and Webcast](index=3&type=section&id=Conference%20Call%20and%20Webcast) American Outdoor Brands, Inc. hosted a conference call and webcast on September 4, 2025, to discuss its first quarter fiscal 2026 financial and operational results, featuring the President and CEO, and CFO - A conference call and webcast were held on September 4, 2025, at 5:00 p.m. Eastern Time to discuss the Q1 FY2026 financial and operational results[6](index=6&type=chunk) - Participants included Brian Murphy (President and CEO) and Andrew Fulmer (CFO)[6](index=6&type=chunk) - Access was available via telephone at (833) 630-1956 or live webcast on the company's website (aob.com) under the Investor Relations section[6](index=6&type=chunk)

Financial Performance - American Outdoor Brands, Inc. reported a quarterly loss of $0.26 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.16, and compared to earnings of $0.06 per share a year ago, indicating a significant decline [1] - The company posted revenues of $29.7 million for the quarter ended July 2025, missing the Zacks Consensus Estimate by 19.29%, and down from $41.64 million in the same quarter last year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates three times, but has underperformed the market with shares losing about 32.8% since the beginning of the year [2][3] Earnings Outlook - The current consensus EPS estimate for the coming quarter is $0.38 on revenues of $61 million, and for the current fiscal year, it is $0.41 on revenues of $212.9 million [7] - The estimate revisions trend for American Outdoor Brands was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Leisure and Recreation Products industry, to which American Outdoor Brands belongs, is currently in the bottom 35% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact investor sentiment and stock performance [5]