Financial Performance - For the three months ended June 30, 2024, net sales decreased by $49,152 compared to the prior year quarter, with The Kinetic Group experiencing a sales decline of $6,156 due to lower volume across nearly all categories [104]. - The Revelyst segments reported a combined decrease of $8,073 in operating income for the three months ended June 30, 2024, primarily due to a 14.2% decrease in gross profit compared to the same period [104]. - The Kinetic Group reported net sales of $370,437 for the three months ended June 30, 2024, a decrease of 1.6% compared to $376,593 for the same period in 2023 [119]. - Total net sales for the company decreased by 7.1% to $644,181 from $693,333 year-over-year [119]. - Revelyst Outdoor Performance segment net sales decreased by 16.0% to $89,509, down from $106,549, primarily due to lower wholesale volume and the divestiture of RCBS [119]. - Gross profit for the Kinetic Group was $129,767, a decline of 1.6% from $131,903, with a gross profit margin remaining flat at 35.0% [122]. - Operating income for the Kinetic Group decreased by 3.8% to $104,396 from $108,464, with an operating income margin of 28.2% compared to 28.8% in the prior fiscal period [125]. Cash Flow and Debt Management - Cash provided by operating activities during the three months ended June 30, 2024, was $53,765, and total debt decreased to $635,000, resulting in total debt as a percentage of total capitalization decreasing to 34.9% [105]. - Outstanding borrowings under the 2022 ABL Revolving Credit Facility decreased by $85,000 during the three months ended June 30, 2024 [105]. - Cash decreased to $55,981 as of June 30, 2024, from $60,271 at March 31, 2024, primarily due to cash used for debt repayment and capital expenditures [131]. - Total debt as a percentage of total capitalization was 35% as of June 30, 2024 [133]. - The company believes its cash position and anticipated cash flows will be adequate to fund future growth and service debt obligations over the next 12 months [133]. Strategic Initiatives - The company initiated the GEAR Up transformation program to accelerate growth and transformation within its reportable segments [106]. - The GEAR Up transformation program is expected to realize $25,000 to $30,000 in savings in Fiscal Year 2025, with a target of $100,000 in run rate cost savings by fiscal year 2027 [106]. - The company expects to incur pre-tax restructuring charges of approximately $40,000 to $50,000 over the duration of the GEAR Up plan, to be completed by fiscal year 2027 [106]. - The review of strategic alternatives includes exploring a potential sale of Revelyst and engagement with MNC Capital regarding a proposal to acquire the company for $42.00 per share [111]. - The Kinetic Group is being sold to CZECHOSLOVAK GROUP a.s. for an enterprise value of $2,150,000, with cash consideration of $24.00 per share of Vista Outdoor Common Stock [110]. Legal and Environmental Considerations - The company is subject to various legal proceedings but does not consider any currently pending proceedings to be material [136]. - The company has environmental management programs in place to mitigate risks associated with environmental laws and regulations [139]. Market and Customer Insights - Walmart represented 14% of total trade receivables balance as of June 30, 2024 [140]. - No customer contributed more than 10% of sales during the three months ended June 30, 2024 [140]. - The company’s exposure to market risk has not changed materially since March 31, 2024 [141]. - There have been no material changes regarding contractual obligations and commitments since the last annual report [135]. Tax and Expense Management - The effective tax rate for the three months ended June 30, 2024, was 20.1%, down from 23.0% in the prior year, influenced by the release of valuation allowance related to capital losses [129]. - The company experienced a significant decrease in other expenses, down 85.8% to $77 from $541, attributed to changes in foreign exchange gains and losses [127]. - Interest expense decreased by 41.9% to $9,421 from $16,218, due to a reduction in the average debt balance [128]. Lease Liabilities - Current and long-term operating lease liabilities were recorded at $15,295 and $100,983, respectively, as of June 30, 2024 [135].

Financial Data and Key Metrics Changes - Total sales for Q1 2025 decreased by 7.1% to $644.2 million, driven by lower volumes at both The Kinetic Group and Revelyst, partially offset by increased government sales at Revelyst and price increases at The Kinetic Group [24][25] - Adjusted EBITDA decreased by 11.3% to $110.1 million, resulting in an EBITDA margin of 17.1% [25] - Adjusted free cash flow significantly outperformed expectations, delivering $70 million, allowing for a reduction in net debt by $81 million, ending the quarter at $579 million with a net debt leverage ratio of 1.3 times [26][24] Business Line Data and Key Metrics Changes - Revelyst sales decreased by 13.6% in Q1 to $273.7 million, impacted by pre-order delivery timing and unfavorable product mix [27] - The Kinetic Group reported sales of $370 million with an adjusted EBITDA margin of 30%, equating to $111 million in adjusted EBITDA, despite facing economic headwinds [17][18] - Revelyst's gross profit decreased by 14.2% to $81.4 million, with an EBITDA margin of 5.7%, down 190 basis points year-over-year [28] Market Data and Key Metrics Changes - Revelyst experienced market share gains in categories such as bike helmets and fishing sportswear, despite overall market softness [45] - The Kinetic Group's inventory is well-positioned to meet consumer demand for hunting loads, with expectations of continued momentum in the upcoming hunting seasons [18] - NICS data surpassed one million background checks for the 59th consecutive month, indicating a healthy baseline of shooting and hunting participants [20] Company Strategy and Development Direction - The company is undergoing a strategic review, exploring alternatives for Revelyst, including a potential sale, and engaging with MNC Capital regarding a proposal to acquire Vista Outdoor [4][5] - The GEAR Up transformation initiative aims to achieve $25 million to $30 million in cost savings for fiscal year 2025, with a long-term goal of $100 million by FY 2027 [32][34] - The DragonFly wheel strategy focuses on brand innovation, direct-to-consumer channels, and international expansion to drive growth and margin expansion [7][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in doubling standalone adjusted EBITDA for Revelyst in fiscal year 2025, despite challenges faced in Q1 [17][35] - The company anticipates sequential improvement in sales and EBITDA margins throughout the fiscal year, driven by new product launches and operational improvements [36][32] - Management acknowledged supply chain challenges but emphasized improvements and solutions being implemented to enhance future performance [50][51] Other Important Information - The company announced a significant partnership with celebrity chef Guy Fieri, aimed at enhancing brand visibility and product offerings in outdoor cooking [10][11] - Recent divestitures, including the sale of Fiber Energy Products, are part of a strategy to rebalance the portfolio and focus on core assets with growth potential [15][16] Q&A Session Summary Question: Can you provide more details on the standalone Revelyst EBITDA guidance? - Management highlighted the GEAR Up program's savings and the expected recovery of $13 million in orders shifted to Q2, indicating confidence in achieving the doubling of EBITDA [38][40] Question: What are the reasons for the delay in sales and product shipment issues? - The delay was attributed to quality issues with a new product in the Bushnell Golf platform and order processing challenges, which have since been addressed [49][50] Question: How will the company manage gross margin expectations moving forward? - Management expects gross margins to improve sequentially as sales increase and the GEAR Up program continues to impact cost structures positively [41][42]

| --- | --- | --- | |-------|-------|-------| | | | | | | | | Note: References to The Kinetic Group and Revelyst in the presentation refer to the former Sporting Products and Outdoor Products segments of Vista Outdoor, respectively. Additionally, in the results that follow when referring to "Revelyst", it comprises three new operating and reportable segments: Revelyst Adventure Sports, Revelyst Precision Sports Technology and Revelyst Outdoor Performance. Please see Vista Outdoor's Annual Report on Form 10- ...

Exhibit 99.1 News Release For Immediate Release Investor Contact: Media Contact: Tyler Lindwall Eric Smith Phone: 612-704-0147 Phone: 720-772-0877 E-mail: investor.relations@vistaoutdoor.com E-mail: media.relations@vistaoutdoor.com Vista Outdoor Reports First Quarter Fiscal Year 2025 Financial Results • Vista Outdoor Board of Directors Committed to Maximizing Value to Stockholders; Ongoing Review of Strategic Alternatives Continuing to Progress; Special Meeting of Stockholders Scheduled to Be Held September ...

Vista Outdoor is reviewing "strategic alternative" options after multiple shareholders denounced the sale of its ammunition branch to Czech holding company Czechoslovak Group (CSG). Vista's decision comes the same day that the company was supposed to hold its shareholder meeting to vote on the sale of The Kinetic Group to CSG. Two of Vista's largest shareholders, Gates Capital Management and GAMCO Asset Management, both publicly opposed the deal while simultaneously supporting MNC Capital Management's all-c ...

Caucasian man hiking in on mountain path getty On July 30, 2024, Vista Outdoor (NYSE: $40.80; Market Capitalization: $2.38 billion) announced that its board of directors has begun reviewing strategic alternatives and is now open to selling its outdoor sporting gear business – Revelyst. The Czechoslovak Group ("CSG") is exploring the acquisition option in addition to its proposed acquisition of The Kinetic Group. Vista Outdoor is also engaging with MNC Capital ("MNC") to explore a better offer for the entire ...

Key Takeaways Vista Outdoor (VSTO) shares surged in premarket trading Tuesday after the company said it would undergo a "review of strategic alternatives" to consider its options amid a monthslong bidding war between The Czechoslovak Group (CSG) and private-equity backed offers from MNC Capital. Reviewing Vista's Options Meanwhile, Vista has also received offers from MNC Partners to acquire the entire company—including Revelyst, the division that houses outdoor brands like Camelbak—with the most recent for ...

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 5. On the other hand, if they miss, the stock may move lower. This maker of firearms, ammunition and accessories is expected to post quarterly earnings of $0.97 per share in its upcoming report, which represents a year-over-year change of -13.4%. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each o ...

On Monday, July 22, 2024 Vista disclosed CSG's revised offer for The Kinetic Group in a press release (the "July 22 Press Release") as well as preliminary Q1 2025 financial results. On the same day, MNC reaffirmed its commitment to its fully financed $42 per share all-cash offer for Vista. After carefully reviewing the revised offer and the updated financial results, we strongly believe that the proposed transaction from CSG is not in the best interest of shareholders and that the Company should immediately ...

CSG's Fully Financed Bid Provides Vista Outdoor Shareholders Certainty and Opportunity to Realize Superior Value PRAGUE, July 23, 2024 /PRNewswire/ -- Czechoslovak Group ("CSG"), a leading global industrial holding company, which recently increased its offer for Vista Outdoor Inc.'s (NYSE: VSTO) ("Vista Outdoor") The Kinetic Group to $2.15 billion, today reaffirmed its strong commitment to successfully completing the acquisition. CSG believes its fully financed bid maximizes the value that will be received ...