NEW YORK, July 19, 2024 /PRNewswire/ -- Gates Capital Management, Inc. ("Gates Capital Management" or "we"), an event-driven alternative asset manager that beneficially owns 5,589,041 shares, or approximately 9.6%, of Vista Outdoor, Inc. ("Vista" or the "Company") (NYSE: VSTO), today reiterated its opposition to the pending sale of The Kinetic Group to Czechoslovak Group a.s. ("CSG") in a letter sent to the Vista Board of Directors. The full text of the letter follows: July 19, 2024 Vista Outdoor Inc. Attn: ...

Sends Letter to Vista Board of Directors Outlining Why Tax-Free Spin-Off or Cash Offer for the Entire Company Are Superior to the Proposed Sale of The Kinetic Group July 17, 2024 Dear Members of the Board, We strongly oppose the sale at the proposed price of $2.1 billion and believe that Vista shareholders deserve a higher price that accurately reflects The Kinetic Group's financial strength and future potential. The Kinetic Group consistently generates substantial free cash flow, which averaged more than $ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period to Commission file number 1-36597 Vista Outdoor Inc. (State or other jurisdiction of incorporation or organization) Delaware 47-1016855 (I.R.S. Employer Identification No.) 1 Vista W ...

Financial Data and Key Metrics Changes - Total sales for the fiscal year decreased 10.8% to $2.7 billion, with organic sales down 14.5% to $2.6 billion [17] - Adjusted EBITDA for the fiscal year dropped 27.8% to $442.5 million, with an EBITDA margin contracting 378 basis points to 16.1% [18] - Adjusted free cash flow significantly outperformed expectations, delivering $161 million in the fourth quarter, allowing a reduction in net debt by $118 million [16][20] Business Line Data and Key Metrics Changes - The Kinetic Group's sales decreased 12.5% in Q4 to $361.6 million, with FY24 sales down 17.4% to $1.45 billion [26] - Revelyst sales increased 1.4% in Q4 to $332.1 million, driven by an 18.8% increase in Revelyst Precision Sports Technology [23] - Revelyst's Q4 EBITDA was $29.1 million, up 209.5%, with an EBITDA margin of 8.8% [25] Market Data and Key Metrics Changes - POS data indicates strong sell-through with double-digit increases in handgun, shotshell, and rifle ammunition year-over-year [9] - Adjusted NICS checks data surpassed 1 million firearms checks for the 57th straight month, indicating a healthy baseline of shooting and hunting participants [10] Company Strategy and Development Direction - The company aims to double standalone adjusted EBITDA in fiscal year 2025, with long-term expectations for Revelyst's adjusted EBITDA margins to be in the mid-teens [4] - A divestiture of the RCBS brand was completed to focus on core assets with significant growth potential [21][22] - The GEAR Up transformation program is expected to yield $25 million to $30 million in cost savings, supporting potential EBITDA growth [54] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the uncertain macroeconomic climate and emphasized the importance of market share gains [5][32] - The company anticipates challenges from higher commodity input costs but remains optimistic about future sales trends and inventory management [8][30] Other Important Information - The company reported a stable inventory level, with a year-over-year reduction of approximately 14% [20] - The recent fire at Fiber Energy Products' facility is expected to impact revenue contributions for fiscal year 2025 [29] Q&A Session Summary Question: What is the fiscal '25 revenue outlook for Revelyst? - Management indicated that while they haven't guided by segment, they see strong growth potential in Precision Sports, while Adventure Sports may face inventory challenges [38][39] Question: How does the margin improvement plan integrate into '25? - The expected $25 million to $30 million in run rate savings will contribute to the fiscal '25 guidance, with improvements anticipated throughout the year [78] Question: What is the pricing strategy for the year? - Management confirmed that no price increases were assumed in the guidance, but a targeted price increase was implemented, with plans for a broader increase to cover rising costs [91][96]

Vista Outdoor (VSTO) came out with quarterly earnings of $1.02 per share, beating the Zacks Consensus Estimate of $0.99 per share. This compares to earnings of $1.08 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.03%. A quarter ago, it was expected that this maker of firearms, ammunition and accessories would post earnings of $0.84 per share when it actually produced earnings of $0.80, delivering a surprise of -4.76%.Over t ...

One of the largest ammunition manufacturers in the U.S. is about to sell its shooting sports business, but the deal isn’t going smoothly. Amid national security concerns and competing bids for the business, Vista Outdoor‘s (NYSE:VSTO) plan to split in two is suddenly very complicated and roiling the market for ammo stocks.Although the industry has occasionally suffered from shortages, some of them for an extended period, ammo has largely returned to normalcy after the pandemic. With a presidential election ...

ANOKA, Minn.--(BUSINESS WIRE)--The Vista Outdoor Foundation (the “Foundation”), the philanthropic partner of Vista Outdoor Inc. (NYSE: VSTO), today announced the donation of $208,000 to four nonprofit organizations, concluding a multi-year grant commitment. The four nonprofits receiving proceeds are: Little Bellas: Mentoring on Mountain Bikes: Little Bellas creates opportunities for girls to experience success using mountain biking as the platform and pathway to personal growth. Outdoors Tomorrow Foun ...

ANOKA, Minn.--(BUSINESS WIRE)--Revelyst, a collective of world-class maker brands that design and manufacture performance gear and precision technologies and a segment of Vista Outdoor Inc. (NYSE: VSTO), today announced it will host an Investor Day. Revelyst is in the process of separating into a standalone public company, with an expected execution in the second quarter of calendar year 2024. The event will be held on Wednesday, May 29, 2024, at the company’s Adventure Sports headquarters in Irvine, Califo ...

ANOKA, Minn.--(BUSINESS WIRE)--Vista Outdoor Inc. (NYSE: VSTO), the parent company of 41 renowned brands that design, manufacture and market sporting and outdoor lifestyle products to consumers around the globe, today announced it will participate in two investor conferences in March. UBS Global Consumer and Retail Conference — March 14 36th Annual ROTH Conference — March 18 The ROTH conference will feature Revelyst CEO Eric Nyman and CFO Andy Keegan in a fireside chat via webcast from 10:30 a.m. to 1 ...

ANOKA, Minn.--(BUSINESS WIRE)--Vista Outdoor Inc. (NYSE: VSTO) today announced that its Board of Directors (the “Vista Outdoor Board”), following consultation with its financial and legal advisors, has rejected an unsolicited indication of interest received on February 19, 2024 from MNC Capital (“MNC”) pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $35.00 per Vista share (the “MNC Indication”). The Vista Outdoor Board also issued a letter to MNC which is r ...