The strong Q2 beat and accelerating revenue growth (+16% vs +31% in Q1 but on a much larger base) confirm the demand recovery in Fishing and Diving segments. With $107.9M cash, no debt, and a $559M market cap, the stock trades at ~14x trailing earnings — cheap for a company showing this margin trajectory. Watch for Q3 (peak selling season) results in August for confirmation of the trend.
Price Chart
Executive Summary
Johnson Outdoors reported fiscal Q2 2026 results with net sales of $194.5M (+16% YoY) and diluted EPS of $0.89, a 2.3% beat vs the $0.87 consensus estimate. Operating income more than doubled to $10.3M from $4.9M a year ago, driven by 380bps of gross margin expansion to 38.8% and strong Fishing segment growth of 18%. The company did not provide forward guidance, but the sequential improvement from a Q1 net loss of -$0.33/share to Q2 profitability of $0.89/share signals a meaningful inflection in the core business.
Key Financial Metrics
Key Facts
- Fiscal Q2 2026 net sales $194.5M, +16% YoY vs $168.3M
- Diluted EPS $0.89, beat consensus of $0.87 by 2.3%
- Operating income $10.3M, more than doubled from $4.9M YoY
- Gross margin expanded 380bps to 38.8% from 35.0%
- Fishing segment revenue +18% to $159.0M; Diving +9%; Camping/Watercraft +1%
- Net income $9.4M vs $2.3M YoY; YTD net income $6.1M vs net loss of -$13.0M prior year
- Cash and short-term investments $107.9M, up $13.9M YoY
- Quarterly cash dividend approved in February 2026, paid April 30, 2026
Financial Impact
Q2 net income improved $7.1M YoY to $9.4M; YTD net income swing of +$19.1M vs prior year loss
Risk Factors
- Consumer discretionary spending could weaken if macroeconomic conditions deteriorate
- Tariff and supply chain risks given U.S. trade policy uncertainty
- Camping & Watercraft segment only grew 1%, signaling potential headwinds in that category
- Operating expenses increased $11.2M (+21%) YoY, outpacing revenue growth
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-003187 |
| Document: f8k_050726.htm | 0001171843-26-003187 |
| Document: 0001171843-26-003187-index-headers.html | 0001171843-26-003187 |
| Document: 0001171843-26-003187-index.html | 0001171843-26-003187 |
| Document: 0001171843-26-003187.txt | 0001171843-26-003187 |
| 8-K Data (Synthetic) | 0001171843-26-003187 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 25, 2026 4w ago | 8-K | $44.43 $45.00 | ▲ +1.28% | ▲ +2.76% | $45.24 (+1.82%) |
Sep 25, 2026 4w ago | Press Release | $44.43 $45.00 | ▲ +1.28% | ▲ +2.76% | $45.24 (+1.82%) |
Aug 7, 2026 11w ago | 8-K | $48.22 $46.30 | ▼ −3.98% | ▼ −3.58% | $45.24 (−6.18%) |
Jul 23, 2026 13w ago | Press Release | $45.77 | awaiting T+20 | — | $45.24 (−1.16%) |
Jun 12, 2026 19w ago | Institutional Cluster | $46.80 $44.25 | ▼ −5.45% | ▼ −7.23% | $45.24 (−3.33%) |
May 29, 2026 21w ago | 8-K | $44.76 $45.80 | ▲ +2.32% | ▲ +4.12% | $45.24 (+1.07%) |
May 29, 2026 21w ago | Press Release | $44.76 $45.80 | ▲ +2.32% | ▲ +4.12% | $45.24 (+1.07%) |
May 8, 2026 24w ago | 8-K | $51.41 $44.84 | ▼ −12.78% | ▼ −12.80% | $45.24 (−12.00%) |
May 8, 2026 24w ago | Press Release | $51.41 $44.84 | ▼ −12.78% | ▼ −12.80% | $45.24 (−12.00%) |
Apr 24, 2026 26w ago | Press Release | $51.60 $42.93 | ▼ −16.80% | ▼ −20.83% | $45.24 (−12.33%) |
US Market Status
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