American Outdoor Brands, Inc. - AOUT STOCK NEWS

American Outdoor Brands (NASDAQ: AOUT) has appointed Bradley T. Favreau as a new independent director effective immediately. This change expands the Board from six to seven directors, enhancing corporate governance. The appointment follows a Cooperation Agreement with Engine Capital Management, which will withdraw its director nominations and support the current Board at the upcoming Annual Meeting. Favreau's extensive experience in financial markets is expected to strengthen alignment with stockholders. CEO Brian Murphy highlighted a focus on strategic priorities and consumer relations.

American Outdoor Brands (AOUT) reported fiscal 2022 net sales of $247.5 million, a 10.5% decrease from the previous year's $276.7 million. The full year gross margin rose to 46.2% (+40 bps). The company faced a GAAP net loss of $64.9 million ($4.66 per diluted share), driven by a $67.8 million non-cash impairment charge. However, on a two-year comparison, net sales grew 47.9%. Non-GAAP net income was $24.7 million ($1.77 per diluted share). The direct-to-consumer segment soared 73% in sales, indicating strong momentum.

American Outdoor Brands (AOUT) will release its fourth quarter and full year fiscal 2022 financial results on July 14, 2022, after market close. A conference call will follow at 5:00 p.m. ET to discuss these results, featuring CEO Brian Murphy and CFO Andy Fulmer. The live audio webcast will be available on the company's website under Investor Relations.

This announcement highlights the company’s ongoing commitment to transparency and investor engagement.

American Outdoor Brands (NASDAQ: AOUT) appointed Arturo Del Rio as Vice President of Human Resources & Chief People Officer on June 13, 2022. Del Rio will implement human capital strategies including recruitment, training, diversity, and performance management. He brings over 24 years of HR experience, having previously served as Global HR Director at Ferro Corporation and held significant roles at Parker Hannifin Corporation. CEO Brian D. Murphy expressed enthusiasm about Del Rio’s commitment to talent development and inclusion, which are vital for the company’s future growth.

American Outdoor Brands (NASDAQ: AOUT) announced the appointment of Luis G. Marconi as an independent director on June 7, 2022. Marconi brings over 34 years of experience in the food and beverage industry, most recently serving as Group Vice President at Hormel Foods. His expertise aligns with the company's strategic goals of expanding its consumer outdoor brand portfolio through organic growth and acquisitions. Chairman Barry M. Monheit highlighted Marconi's relevant international experience, which will be invaluable to the company's growth initiatives.

American Outdoor Brands (NASDAQ: AOUT) has completed the $27 million acquisition of Grilla Grills, a provider of premium barbecue and outdoor cooking products. The deal, valued at approximately $24 million after tax benefits, allows the company to penetrate the $7 billion U.S. barbecue grill market with a direct-to-consumer brand. This strategic acquisition is expected to enhance growth within the outdoor lifestyle product category and leverage American Outdoor Brands' existing Dock & Unlock™ strategy.

American Outdoor Brands, Inc. (AOUT) reported its third quarter fiscal 2022 results, with net sales of $70.1 million, down from $82.6 million in the same quarter last year, reflecting challenges in traditional sales channels. Despite a 15% decline from last year, sales grew 61.8% over two years. Gross margin improved to 45.8%. Net income decreased to $3.8 million or $0.27 per diluted share. The company plans to acquire Grilla Grills, anticipating it to enhance direct-to-consumer revenue. New product launches and a solid cash position are expected to drive future growth.

American Outdoor Brands (NASDAQ: AOUT) has announced an agreement to acquire Grilla Grills for $27 million in cash, approximately $24 million net of future tax benefits. This acquisition allows American Outdoor Brands to enter the $7 billion U.S. barbecue grill market. Grilla has shown impressive growth, with net sales surpassing $15 million and a 161% increase over the past two years. The transaction is expected to enhance American Outdoor Brands' outdoor lifestyle product category and is expected to close shortly, funded through cash and an increased credit line.

American Outdoor Brands, Inc. (NASDAQ: AOUT) announced the release of its third quarter fiscal 2022 financial results on March 10, 2022, after market close. A subsequent conference call, featuring CEO Brian Murphy and CFO Andy Fulmer, will take place on the same day at 5:00 p.m. ET. Investors can access the call via telephone or through a live audio webcast on the company's investor relations webpage. For more details, visit www.aob.com.