Camp Chef’s parent company Vista Outdoor (NYSE: VSTO) reported earnings ending March 2023 this week. While it was mostly the same themes we’ve been hearing (e.g. too much inventory) here’s the key takeaways.
Corporate Split Update
Vista Outdoor is still on track to split into two companies this year. While the Sporting Products company already has a named CEO, they’re still looking for a leader for the Outdoor Products company.
They’ve engaged with a professional search firm to find the next CEO. They did note though on that call that they are also looking internally at candidates.
Snow May Hurt Camp Chef Sales
On the earnings call it was noted that they’ve seen in the past that a long snow season hurts sales in some of their Outdoor Products brands. This year had a long snow season with late snow falls through April. They specifically called out Camp Chef as a brand that could be impacted by the snow.
Vista Outdoor re-iterated what they’ve said previously that they don’t expect inventory positions to normalize until the back half of the year. They did say though, that they’ve begun to monetize their inventory position.