Sportsman’s Warehouse(US:SPWH)2023-04-12 21:19Financial Performance - Full year 2022 net sales were $1399515 thousand, a decrease compared to $1506072 thousand in 2021[69] - Full year 2022 gross profit was $460240 thousand, compared to $490297 thousand in 2021[69] - Full year 2022 net income was $40518 thousand, a decrease compared to $108470 thousand in 2021[12] - Adjusted EBITDA for the full year 2022 was $101583 thousand, compared to $136552 thousand in 2021[12] - The company repurchased 68 million shares, returning $647 million to shareholders in FY22[3] Debt and Leverage - Total debt outstanding was $875 million, compared to $660 million[1] - The leverage ratio was 09x, compared to 06x[2] - Net debt was $851 million[3] - The company has a credit facility borrowing capacity of $350 million[3] Financial Outlook for Q1 2023 - Net sales are projected to be $265 million to $270 million[4] - Same-store sales (SSS) are expected to decline by (19)% to (17)%[4] - Earnings per share (EPS) are projected to be ($040) to ($035)[4] - The tax rate for FY 2023 is projected at 26%[4] - Capital expenditures (CAPEX) for FY 2023 are projected to be $480 million to $560 million[4] Store Expansion - The company plans to open 15 new stores in 2023[37]