- **Revenue Growth**: 5% YoY to $180.7M, driven by Fishing and Camping segments.
- **Gross Margin Expansion**: 37.6% (up 1.8% YoY) from cost control and pricing.
- **Tariff Impact**: Q4 expected to rise, with mitigation strategies in place.
- **Strategic Resilience**: Debt-free balance sheet and innovation-driven growth.
- **Market Recognition**: Industry awards highlight product leadership in Fishing and Boating.

**【CEO Summary Section】**
- **Revenue Growth**: 5% year-over-year increase to $180.7 million, with operating profit rising to $7.3 million from a prior loss.
- **Fishing Segment Success**: MEGA Live 2 Sonar and XPLORE fish finder units exceeded expectations, winning Best in Electronics at ICAST. Minn Kota's Riptide Instinct motor received the Marine Power Innovation Award.
- **Camping & Watercraft Strength**: Jetboil Fast Boil systems outperformed expectations, while Old Town maintained resilience in a challenging watercraft market.
- **Diving Market Challenges**: Slight improvement amid macroeconomic uncertainties, with ongoing integration of a long-term supplier.
- **Strategic Focus**: Innovation, operational efficiency, e-commerce growth, and a debt-free balance sheet.

**【CFO Financial Commentary】**
- **Gross Margin Expansion**: 37.6% (up 1.8 percentage points YoY) driven by higher volumes, pricing, and cost savings, offset by modest tariff impacts.
- **Expense Reduction**: Operating expenses decreased $1.7 million, excluding a $2 million deferred compensation adjustment.
- **Inventory Management**: Balance reduced by $59.4 million YoY, with ongoing efforts to optimize levels.
- **Tariff Mitigation**: Q4 expected to see tariff impacts flow through, with strategies to adjust as clarity emerges.
- **Cost Savings Program**: Ongoing initiatives to enhance product costs and operational efficiency.

**【Q&A Key Highlights】**
- **Sales Trend**: Monthly improvement throughout Q3, with cautious optimism for July as the season winds down.
- **Tariff Outlook**: Anticipated Q4 impact, with mitigation strategies including pricing adjustments and supply chain alternatives.
- **Promotional Activity**: Reduced discounts sustained, but future actions will depend on market dynamics.
- **Inventory Reduction**: Further progress expected, though macroeconomic factors may pose challenges.
- **Awards Impact**: ICAST recognition boosted XPLORE demand momentum, aligning with innovation strategy.

Johnson Outdoors Inc. (JOUT) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

JOUT

JOUT fundamentals

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