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Article Date: January 2024
Word Count: 459

Vista Outdoor Takes Big Impairment in Holiday Quarter

As plans to sell off its ammunition business move forward, VSTO’s $218.8 million charge for goodwill and intangibles impairment scuttled its fiscal third quarter ended Dec. 24, resulting in a net loss of $148,195,000 against income of $65,147,000 prior. Revenues were also disappointing, coming in 10% lower at $682,253,000 down from $754,775,000, with both Kinetic (ammo) and Revelyst (outdoor) segments reporting similar sales declines. Even excluding the impairment charge and other expenses related to the Kinetic sale, adjusted EBITDA was down 30% to $93.5 million.