Vista Outdoor Reiterated FY25 Sales Of $2.665B-$2.775B Vs $2.74B Est, Discloses Q1 Sales Guide Of $272M-$276M Vs $674M Est

Reaffirms Outlook for Fiscal Year 2025

The Company reaffirms its guidance for Fiscal Year 2025 for Vista Outdoor, as well as The Kinetic Group and Revelyst. The Company expects the following results for Fiscal Year 2025, among other guidance previously disclosed:

• Sales in the range of $2.665 billion to $2.775 billion
  • The Kinetic Group Sales expected to be approximately $1.425 billion to $1.475 billion
  • Revelyst Sales expected to be approximately $1.240 billion to $1.300 billion
• Adjusted EBITDA in the range of $410 million to $490 million1
  • The Kinetic Group adjusted EBITDA expected to be approximately $350 million to $400 million
  • Revelyst adjusted EBITDA expected to be approximately $130 million to $160 million

Vista Outdoor expects that Revelyst will pursue a 12-month $50 million share repurchase program following the closing of the CSG Transaction, subject to approval by the Revelyst Board of Directors.

Preliminary Q1 2025 Financial Results

Revelyst Results

• Sales are expected to decrease to a range of $272 million to $276 million. The decline relative to FY2024 Q1 was primarily driven by $13 million of orders expected in Q1 shifting to Q2 due to challenges related to shipping filled orders at the end of the quarter and delayed new product introductions to Q2, strong new product launches at Bushnell Golf in the prior year period, the divestiture of the RCBS brand, year over year pre-order delivery timing delays at Revelyst Adventure Sports and the February 2024 fire at Fiber Energy's main production facility that temporarily shuttered operations, partially offset by another quarter of growth at Foresight from the strong launch of the QuadMAX and Foresight Falcon product offerings, the launch of the Gridiron line of flat top griddles at Camp Chef, and an increase in government sales as we increase our focus on our support of our freedom fighters both domestically and internationally.
• Operating income2 is expected to be in the range of ($2.5) million to ($0.5) million.
• Adjusted EBITDA is expected to be in the range of $14.5 million to $16.5 million. The decrease relative to FY2024 Q1 was primarily driven by lower volume due to the factors described in the sales discussion above partially offset by $5 million in realized cost savings from the GEAR Up transformation program, reduced ocean freight rates at Revelyst Adventure Sports and component cost savings at Revelyst Precision Sports Technology.