Why Shares of Vista Outdoor Are Soaring Today
Shares of Vista Outdoor (NYSE: VSTO) climbed 17% on Thursday morning, after the outdoor sports equipment company reported better-than-expected quarterly results and raised expectations for the year.
Before markets opened Thursday, Vista reported fiscal first-quarter earnings of $0.51 per share on revenue of $479 million, easily outpacing analyst estimates for a break-even quarter on $405 million in revenue. Revenue was up 4% year over year, and free cash flow of positive $73 million was much better than management's guidance that it would be "less negative" than the $45 million cash bleed last quarter.
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Source Fool.com
