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Vista Outdoor (NYSE: VSTO) announced the launch of the Vista Outdoor Corporate Foundation with an initial contribution of $3 million. The Foundation aims to partner with non-profits focusing on conservation and outdoor access, aligning with Vista's mission. CEO Chris Metz emphasized the Foundation's role in fostering outdoor enthusiasm and protecting open spaces. The Board includes Vista employees and will govern the Foundation's operations. Funding requests will be accepted from qualified non-profits starting Summer 2021, with applications considered based on specific criteria.
Vista Outdoor (NYSE: VSTO), a key player in the outdoor sports and recreation market, will host its 2021 virtual investor day on May 26, 2021, starting at 8:30 a.m. (EDT). This event will include presentations from top executives, including CEO Chris Metz and CFO Sudhanshu Priyadarshi, followed by a live Q&A session until 11:00 a.m. (EDT). Attendees must pre-register via the provided link. The event will be accessible on their website, with an archive available for one year post-event. For more information, visit www.vistaoutdoor.com.
Vista Outdoor Inc. (NYSE: VSTO) reported record financial results for the fourth quarter and fiscal year ending March 31, 2021, highlighting a 40% sales increase to $597 million. Gross profit soared to $182 million, with a gross margin expansion of over 1,000 bps. The company recorded a significant turnaround with EPS rising to $1.11 from a loss of $2.44 in the prior year. Full-year sales reached $2.23 billion, up 27%, driven by robust demand across segments, including a 28% sales increase in Shooting Sports. Looking forward, the company expects Q1 FY2022 sales between $600 million and $620 million.
Vista Outdoor Inc. (NYSE: VSTO) will hold an investor conference call on May 6, 2021, at 9:00 a.m. ET, to discuss its fourth quarter fiscal year 2021 financial results. The call will include financial guidance and strategic matters. Investors can access the call via Vista Outdoor's official website. For those unable to attend, a recording will be available by calling 719-457-0820 with the confirmation code 3276728. This recording will be accessible for one month following the call.
Vista Outdoor announced a private offering of $500 million senior notes due 2029, increasing from a previously announced $350 million. The notes will be issued at 100% of principal and are senior unsecured obligations, guaranteed by certain subsidiaries. Proceeds will fund the redemption of 5.875% Senior Notes due 2023 and general corporate purposes. The offering is limited to qualified institutional buyers and non-U.S. persons under Regulation S. The notes are not registered under the Securities Act.
Vista Outdoor has initiated a private offering of $350 million in senior notes due 2029. These senior unsecured obligations will be guaranteed by certain domestic subsidiaries of Vista Outdoor. The net proceeds will be utilized to redeem all outstanding 5.875% Senior Notes due 2023, alongside covering related fees and expenses. The offering is targeted solely at qualified institutional buyers and non-U.S. persons. This move aims to enhance the company’s financial position and streamline its debt obligations.
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Vista Outdoor reported strong fiscal Q3 results for FY21, ending December 27, 2020. Sales increased by 35% to $575 million, with gross profit rising 84% to $163 million.
Operating income rose to $87 million from $19 million, and EPS climbed to $1.31 from $0.25 year-over-year. Free cash flow reached $294 million, significantly up from a cash use of $46 million in the previous year.
The acquisition of Hevi-Shot is expected to enhance their offerings. Future sales for Q4 are projected between $510-$530 million.
Vista Outdoor (NYSE: VSTO) will host an investor conference call on Feb. 4, 2021, at 9:00 a.m. ET, to discuss its third quarter fiscal year 2021 financial results. The call will cover financial outlook, guidance, and strategic matters. For those unable to attend, a telephone recording will be available for up to one month post-call at 719-457-0820 (code: 6195050). Vista Outdoor is a leading global designer and manufacturer of outdoor sports products, catering to various recreational pursuits.
Vista Outdoor (NYSE: VSTO) is donating biking gear to Pedal Power Minnesota after the theft of their trailer containing 30 bikes and accessories. The company contributed $30,000, completing Pedal Power's $50,000 fundraising goal for 2021 operations, which includes purchasing new bikes and safety gear. The theft, reported on November 19, prompted community support and police investigation. Vista's Chief Communications Officer emphasized their commitment to supporting outdoor activities for youth, aligning with the company’s mission and product expertise.