In-line quarter with no guidance change — stock likely trades on macro and consumer spending trends. Monitor fall/holiday season sales for any inflection; the improved inventory position and debt reduction are modest positives but not near-term catalysts.
Price Chart
Executive Summary
Sportsman's Warehouse Q2 FY2026 earnings were essentially in-line with consensus: EPS of $(0.11) matched estimates, revenue of $295.6M slightly beat $295.2M (+0.6% YoY). The company reaffirmed full-year guidance for same-store sales (-1% to +2%) and adjusted EBITDA ($30M-$36M), while highlighting inventory reduction of $44.5M and debt paydown of $26M. The earnings are a non-event with no material surprise.
Key Financial Metrics
Key Facts
- Q2 net sales $295.6M, +0.6% YoY vs $293.9M; same-store sales flat
- GAAP diluted EPS $(0.11) vs consensus $(0.11) (in-line); adjusted diluted EPS $(0.08)
- Net loss improved to $(4.4M) from $(7.1M) YoY; adjusted EBITDA $8.7M vs $8.3M
- Gross margin expanded 50bps to 32.5% of sales
- Full-year guidance reaffirmed: same-store sales -1% to +2%, adj. EBITDA $30M-$36M
- Inventory down $44.5M YoY; net debt reduced $26M to $167M; liquidity $105M
Financial Impact
In-line earnings with reaffirmed guidance — no material catalyst. Revenue beat by $0.4M (0.1%). Net loss narrowed but remains negative.
Risk Factors
- Consumer discretionary spending pressure continues; same-store sales guidance allows for decline of up to 1%
- Negative GAAP net income and operating cash flow (-$67.4M H1) indicate ongoing cash burn
- Highly leveraged balance sheet with $167M net debt on $46M market cap
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-378410 |
| Document: spwh-20260901.htm | 0001193125-26-378410 |
| Document: 0001193125-26-378410-index-headers.html | 0001193125-26-378410 |
| Document: 0001193125-26-378410-index.html | 0001193125-26-378410 |
| Document: 0001193125-26-378410.txt | 0001193125-26-378410 |
| 8-K Data (Synthetic) | 0001193125-26-378410 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 1, 2026 8w ago | 8-K | $1.28 | awaiting T+60 | — | $1.08 (−16.02%) |
Sep 1, 2026 8w ago | Press Release | $1.28 | awaiting T+60 | — | $1.08 (−16.02%) |
Aug 18, 2026 10w ago | Press Release | $1.19 | awaiting T+60 | — | $1.08 (−9.66%) |
Jun 24, 2026 17w ago | 8-K | $1.22 $1.17 | ▼ −4.10% | ▼ −7.83% | $1.08 (−11.89%) |
Jun 2, 2026 21w ago | 8-K | $1.45 $1.14 | ▼ −21.38% | ▼ −23.88% | $1.08 (−25.86%) |
Jun 2, 2026 21w ago | Press Release | $1.45 $1.14 | ▲ +21.38% | ▲ +23.88% | $1.08 (+25.86%) |
Mar 31, 2026 30w ago | 8-K | $1.32 $1.35 | ▼ −2.27% | ▲ +11.11% | $1.08 (+18.56%) |
Mar 17, 2026 32w ago | Press Release | $1.38 $1.26 | ▼ −8.70% | ▼ −20.22% | $1.08 (−22.10%) |
Mar 3, 2026 34w ago | Press Release | $1.48 $1.27 | ▼ −14.19% | ▼ −24.51% | $1.08 (−27.36%) |
US Market Status
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