What is the revenue and EPS growth rate for Sportsman's year over year?

What were the key takeaways from Sportsman's’s earnings call?

What factors drove the changes in Sportsman's's revenue and profit?

What is the market's earnings forecast for Sportsman's next quarter?

What does Sportsman's do and what are its main business segments?

What guidance did Sportsman's's management provide for the next earnings period?

Did Sportsman's beat or miss consensus estimates last quarter?

What is Sportsman's's gross profit margin?

- **Positive same-store sales milestone**: 2025 achieved 1% growth, first since 2020. 
- **Core category outperformance**: Hunting, Fishing, and Personal Protection drove results despite macro challenges. 
- **2026 initiatives**: Loyalty program launch, firearm bundling, and Fishing reinvention. 
- **Financial discipline**: Inventory reduction 8.5%, free cash flow positive. 
- **Q1 momentum**: Firearms demand strong, but cautious on consumer spending. 
- **Risk management**: 5 underperforming stores to close, focusing on inventory efficiency.

**【CEO Summary Section】**
- **Turnaround milestone**: 2025 marked the first year of positive same-store sales growth (1%) since 2020, driven by Hunting & Shooting Sports (+4.4%), Fishing (+10.3%), and Personal Protection. 
- **Core category strength**: 
  - Hunting & Shooting Sports grew 6.2% in Q4, outperforming firearm sales trends (firearms units exceeded NICS checks). 
  - Fishing sales rose 3.2% Q4 (11% ex-ice fishing), with 2025 2-year stack growth of 18%. 
  - E-commerce sales +8.3% Q4, +6.6% annually, reflecting omnichannel momentum. 
- **2026 strategic initiatives**: 
  - Enhanced loyalty rewards program launching Q1 2026. 
  - Firearm solution bundling to improve margins and customer experience. 
  - Reinventing Fishing with locally-assorted stores and digital content-commerce platform. 
- **External factors**: Personal Protection demand surged in Q4 due to external events, but U.S. consumer remains cautious amid macro pressures.

**【CFO Financial Commentary】**
- **2025 financial highlights**: 
  - Net sales $1.3B, +1% same-store sales. 
  - Adjusted EBITDA $27.5M (down 12% vs. prior year, but above revised guidance). 
  - Inventory reduced 8.5% YoY to $312.9M, with 5-store closures planned post-Halloween. 
- **Q4 performance**: 
  - Net loss $21.7M, driven by 6.2% Hunting & Shooting Sports growth. 
  - Gross margin 28.4% (down 200bps vs. prior year due to category mix). 
  - Free cash flow $8.9M, used to reduce net debt to $90M. 
- **2026 guidance**: 
  - Same-store sales -1% to +2%, adjusted EBITDA $30M-$36M. 
  - Focus on inventory efficiency and debt reduction.

**【Q&A Highlights】**
- **Q1 demand**: Positive trends in firearms/ammo continue, but cautious on consumer spending sustainability. 
- **Margin outlook**: Q1 gross margin pressure from firearm mix, but expect flattish margins in 2H26. 
- **Store closures**: 5 underperforming locations to close post-Halloween, with inventory transferred to stronger stores. 
- **Fish category tailwinds**: 250th anniversary of America aligns with outdoor customer base. 
- **Inventory strategy**: Timing receipts to improve turns, reducing seasonal carryover.

Sportsman's Warehouse Holdings, Inc. (SPWH) Q4 2025 Earnings Call Transcript

- **Revenue Resilience**: Q3 net sales up 2.2% YoY, driven by 14% growth in fishing and 5.3% in hunting/shooting sports, despite macro challenges.
- **Inventory Efficiency**: Reduced inventory by $20M Q/Q, targeting < $330M ending FY2025 inventory vs. $342M prior year.
- **Strategic Shifts**: Increased focus on personal protection (Byrna demos in 116 stores) and digital marketing, with Q4 promotional spend to drive traffic.
- **Margin Pressures**: Revised FY2025 EBITDA guidance to $22-26M (down 25%) due to Q4 promotional activity and inventory management.
- **Liquidity Strength**: Projected free cash flow positive for FY2025 with lower debt balance, reflecting disciplined capital allocation.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 net sales $331.3M, up 2.2% YoY, driven by 5.3% growth in hunting/shooting sports and 14.1% in fishing. Personal protection category outperformed, with Byrna demos in 116 stores.
- **Inventory Management**: Reduced inventory by $20M Q/Q, ending Q3 at $424M (3.2% YoY decline). Targeting < $330M ending inventory for FY2025, down $12M YoY.
- **Challenges**: Q4 sales pressured by government shutdown and consumer caution, leading to revised FY2025 guidance: flat to slight net sales growth, EBITDA $22-26M vs. prior $28-32M.
- **Strategic Focus**: Digital-first marketing, local relevance assortments, and inventory precision to drive margins and free cash flow.

**【CFO Financial Commentary】**
- **Gross Margin**: 32.8% (up 100bps YoY) due to healthier inventory, lower freight, and higher fishing sales penetration. Offset by mix shift to lower-margin firearms/ammo.
- **SG&A**: $104.5M (31.5% of sales) vs. 30.8% YoY, driven by labor and digital marketing investments.
- **Liquidity**: Paid down $13.2M debt Q3, ending at $181.9M. Projected FY2025 free cash flow positive with lower debt balance.
- **Margins Under Pressure**: Q4 promotional activity and inventory management expected to weigh on gross margins, with EBITDA guidance revised down.

**【Q&A Key Highlights】**
- **Promotional Environment**: Increased marketing spend in Q4 to compete with peers, focusing on firearms/ammo and digital channels. No print ads this year, but aggressive in-store promotions.
- **Camping Category**: Q3 comps down high single digits, inventory down double digits. Redeploying capital to higher-margin categories.
- **Personal Protection**: Non-lethal products (e.g., Byrna) accretive to margins, attracting new customer segments.
- **Inventory by Category**: Fishing and hunting/shooting sports inventory up, camping and footwear down. Q4 focus on clearing aged inventory to avoid carryover.
- **Black Friday/Cyber Monday**: Promotional activity maintained, with doorbusters reintroduced in December to drive traffic.


Sportsman's Warehouse Holdings, Inc. (SPWH) Q3 2026 Earnings Call Transcript

- **Sales Growth**: 2.1% Q2 same-store sales growth driven by hunting (+4%), fishing (+11%), and personal protection
- **Margin Expansion**: Gross margin +80bps to 32.0%, driven by fishing and inventory precision
- **Inventory Strategy**: $443.5M strategic build for hunting season, expects FY2025 inventory below prior year
- **Category Outperformance**: Firearms +4% vs. industry -4.9%, AOV at all-time highs
- **Tariff Risk**: 2026 headwinds, 3% private label penetration provides pricing flexibility
- **New Product Growth**: Suppressors, short barrel rifles poised for 2026 hockey stick growth

**【CEO Opening Remarks】**
- CEO Paul Stone highlighted the company's second consecutive quarter of same-store sales growth (2.1% YoY), driven by hunting/shooting sports (+4%), fishing (+11%), and personal protection categories. 
- Emphasized strategic focus on: 
  1. Inventory precision (healthy in-stock levels for fall hunting season) 
  2. Local relevance (geotargeted marketing, USCCA training partnerships) 
  3. Personal protection (Byrna, TASER product launches) 
  4. Brand awareness ("Adventure Like a Local" campaign)
- Noted 70% of e-commerce sales fulfilled via BOPUS, driving brick-and-mortar traffic.

**【CEO Strategic Updates】**
- Firearms sales +4% YoY vs. industry NICS decline of 4.9%, with AOV at all-time highs
- Fishing category up 20% on 2-year stack, benefiting from EDLP ammo strategy
- Camping category underperforming (-10% Q2) but improving with EDLP core consumables
- Personal protection category outperforming total company sales

**【CFO Financial Highlights】**
- Q2 2025 Results:
  - Net sales $293.9M (+1.8% YoY)
  - Gross margin 32.0% (+80bps YoY)
  - Adjusted EBITDA $8.3M (+20% YoY)
  - Total inventory $443.5M (strategic build for hunting season)
- Key metrics:
  - SG&A 33.1% of sales
  - Net loss $7.1M (-$0.18 EPS)
  - Free cash flow generation expected for FY2025
- Guidance update:
  - Full year net sales flat to +3.5% (vs. prior -1% to +3.5%)
  - Adjusted EBITDA $33-45M

**【Q&A Highlights】**
- Comp trends: August NICS +15% YoY, strong Q3 start
- Margin drivers: Hunt category mix pressure (-40bps), fishing margin expansion
- Inventory strategy: Peak Q2 inventory, expect Q3 sell-down
- Tariff impact: 2026 risk, 3% private label penetration provides flexibility
- New product opportunities: Suppressors, short barrel rifles post-tax law change

Sportsman's Warehouse Holdings, Inc. (SPWH) Q2 2025 Earnings Call Transcript

- **Revenue Growth**: 2% YoY sales increase, first positive comp in 4 years, driven by firearms (+7% units vs. -5.4% industry) and fishing (+11% comp).
- **E-commerce Momentum**: 8% YoY e-commerce growth, powered by digital-first marketing and omnichannel integration.
- **Inventory Optimization**: Reduced SKUs by 20%, ended Q1 with $412.3M inventory while targeting full-year total inventory below 2024 levels.
- **Profitability Outlook**: Expect positive free cash flow and EBITDA improvement in H2, with debt reduction as top priority.
- **Strategic Wins**: Outperformed industry on firearm sales, launched successful personal protection shop-in-shops, and achieved all-time high customer NPS scores.

**【CEO Strategic Overview】**
- Q1 2025 net sales increased 2% YoY to $249.1M, marking first positive comp in nearly 4 years.
- Firearms unit sales +7% YoY vs. -5.4% industry decline (adjusted NICS), driven by value-priced assortment and improved in-stock rates.
- E-commerce sales +8% YoY, fueled by digital-first marketing and omnichannel integration.
- Fishing category comp +11% YoY, validating new merchandising strategy focused on narrow/deep assortments.
- Inventory optimization: reduced active SKUs by 20%, ended Q1 with $412.3M inventory (+5.3% YoY) but expect full-year total inventory lower than 2024.

**【CFO Financial Highlights】**
- Gross margin 30.4% (+20bps YoY), driven by higher-margin fishing sales offset by $20M strategic inventory pull-forward for tariffs.
- SG&A expenses 38.2% of sales vs. 38.6% YoY, reflecting expense discipline.
- Adjusted EBITDA loss narrowed to -$9M vs. -$8.7M YoY; expect positive EBITDA in H2.
- Debt balance $166M, liquidity $122.1M; targeting positive free cash flow and debt reduction.

**【Key Strategic Initiatives】**
1. **Personal Protection Expansion**: Launched Safety Outpost e-commerce hub and 11 store shop-in-shops for less-lethal gear, with 40+ locations featuring tailored assortments.
2. **Tariff Mitigation**: Pulled forward $20M inventory in firearms, ammo, fishing, and camping to avoid tariffs, positioning for peak sell-through.
3. **Customer Engagement**: Omnichannel campaign repositions brand as local outdoor authority, with 8% e-commerce growth and improved UPT metrics.

**【Q&A Highlights】**
- May sales comp +, driven by Easter timing adjustment and strong fishing season.
- Basket size + due to improved in-stock rates and accessory mix optimization.
- Tariff impact mitigated through inventory pull-forward; expect no P&L impact until Q3/Q4.
- NPS scores at all-time high, reflecting customer satisfaction with everyday low pricing strategy.

Sportsman's Warehouse Holdings, Inc. (SPWH) Q1 2025 Earnings Conference Call Transcript

- **Sales Turnaround**: Q4 2024 same-store sales decline narrowed to 0.5% (vs. 12.8% last year), with fishing (+10.3%) and camping (+5.2%) leading recovery.
- **Profit Improvement**: Adjusted EBITDA surged 285% to $14.6M, net debt reduced by $27M, and liquidity up 40% to $131M.
- **2025 Growth Plan**: Target 1-3.5% sales growth via hunt/fish focus, local store autonomy, and exclusive partnerships, with EBITDA guidance of $33-45M.
- **Key Risks**: Consumer trade-down in firearms (AUR down but AOV stable), Easter timing shift delaying Q1 sales, and <2% tariff exposure.


**【CEO Strategic Overview】**
- **Transformation Progress**: 100+ stores reset with improved layouts, modernized marketing, and inventory rationalization, leading to Q4 same-store sales decline of 0.5% (vs. 12.8% last year) and $15M adjusted EBITDA.
- **2025 Goals**: Return to comp store sales growth, focus on hunting/fishing (10% CAGR in fishing), and personal protection (25% of sales). 
- **Firearms Performance**: Outpaced industry with mid-single-digit unit growth despite 4.5% NICS decline, driven by trade-down to affordable firearms.
- **Key Initiatives**: Narrow/deep assortment in core products, local store autonomy (e.g., Alaska), and exclusive partnerships (e.g., Byrna Less-Lethal).

**【CFO Financial Highlights】**
- **Q4 2024 Results**: 
  - Revenue: $340.4M (13-week comp -0.9%), with fishing (+10.3%) and camping (+5.2%) leading.
  - Gross Margin: 30.4% (vs. 26.8% last year), driven by apparel clearance recovery.
  - EBITDA: $14.6M (vs. $5.3M last year), net debt reduced by $27M to $98.7M.
- **2025 Outlook**: 
  - Sales: 1-3.5% growth, focusing on hunt/fish in-stocks and local relevance.
  - EBITDA: $33-45M, supported by gross margin improvements and cost control.
  - CapEx: $20-25M for tech and store maintenance.

**【Q&A Key Takeaways】**
- **Inventory Efficiency**: Fishing sales +10% with 13% lower inventory, targeting 'narrow/deep' core goods.
- **Consumer Trends**: Trade-down in firearms (AUR down but AOV stable due to attachments), Easter timing shift impacting Q1 sales.
- **Tariffs**: <2% of COGS exposed, no significant vendor price hikes yet.
- **E-commerce**: 17% of sales, 75% fulfilled in-store, driving omnichannel AOV growth.


Actual											0.21	0.01	0.76	0.71	0.75	0.28	0.44	0.51	0.49	0.05	0.36	0.34	0.33	-0.39	-0.04	-0.01	-0.2	-0.47	-0.14	0.04	0.04	-0.41	-0.12	0.08
Forecast											0.1914	-0.0883	0.2733	0.4733	0.4383	-0.09	0.49	0.5467	0.4575	-0.002	0.2483	0.29	0.2883	-0.37	0.04	-0.1175	-0.31	-0.366	-0.0867	-0.0067	-0.062	-0.464	-0.116	0.076	-0.0975
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+9.72%	+111.33%	+178.08%	+50.01%	+71.12%	+411.11%	-10.20%	-6.71%	+7.10%	+2600.00%	+44.99%	+17.24%	+14.46%	-5.41%	-200.00%	+91.49%	+35.48%	-28.42%	-61.48%	+697.01%	+164.52%	+11.64%	-3.45%	+5.26%	0.00%

SPWH

SPWH fundamentals

SPWH Q4 2026 Earnings Preview

Earnings Call

You can ask Aime

SPWH

SPWH fundamentals

SPWH Q4 2026 Earnings Preview

Earnings Call

SPWH Earnings Call Summary for Q4/20265:00 PM on Mar 31, 2026

SPWH Earnings Call Summary for Q3/20265:00 PM on Dec 4, 2025

SPWH Earnings Call Summary for Q2/20265:00 PM on Sep 4, 2025

SPWH Earnings Call Summary for Q1/20265:00 PM on Jun 3, 2025

SPWH Earnings Call Summary for Q4/20255:00 PM on Apr 1, 2025

You can ask Aime