The following is a summary of the Johnson Outdoors Inc. (JOUT) Q2 2024 Earnings Call Transcript:
Financial Performance:
Johnson Outdoors reported a Q2 2024 sales decline of 15% to $175.9 million.
The company showed a year-to-date decrease of 17% compared to the same six-month period last year.
Operating loss for Q2 2024 was reported at $250,000, a significantly poor performance compared to a profit of $11.4 million in the same quarter of the previous year.
Net income for Q2 2024 was at $2.2 million, or $0.21 per diluted share.
Business Progress:
In the face of challenging market conditions, Johnson Outdoors is working on critical investments to overcome current difficulties and secure long-term growth.
The company has reinforced its product innovation efforts with the launch of the Minn Kota Quest Trolling Motor line.
A cost-saving program is being implemented for improved profitability.
Inventory reductions have been initiated across all categories.
Johnson Outdoors remains committed to sustainable, profitable growth across its brands.
More details: Johnson Outdoors IR
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