Camp Chef’s parent company Vista Outdoor had two big announcements today. They announced that their CFO is leaving the company and they released preliminary financials for their quarter ended September 25th, 2022
Vista Outdoor CFO Leaves
Vista Outdoor put out a press release today that their CFO Sudhanshu Priyadarshi is leaving the company in November, after two and a half years. The current Vice President of Finance and Treasury, Andrew Keegan, will take over in the interim while a search process is performed for a permanent replacement.
On behalf of our Board of Directors and everyone at Vista Outdoor, I want to thank Sudhanshu for his significant contributions and disciplined financial leadership. I am personally thrilled for him as this represents the exact right next opportunity for Sudhanshu. We wish him well in his next role.Chris Metz, Chief Executive Officer
In conjunction with the press release from Vista Outdoor, Keurig Dr Pepper Inc. (NASDAQ: KDP) announced that Sudhanshu Priyadarshi will be joining their company as its new CFO effective November 14th, 2022.
Sudhanshu’s impressive financial management experience at leading companies, combined with his strategic and operational savvy, makes him the ideal executive for this critical role. He will be a strategic partner to our team, as we deliver against our commitments, scale our business for growth and continue to successfully navigate the complex macro environment. We are thrilled to welcome him to KDP.Keurig Dr Pepper Chief Executive Officer, Ozan Dokmecioglu
Vista Outdoor also unexpectedly gave preliminary financial results today for their quarter that ended September 25th, 2022. They had previously announced they would release financials on November 2nd.
Sales are expected to be approximately $782 million, an increase of 0.4%. The positive result is driven by their Outdoor Products segment which is up 6% as opposed to their Sporting Products segment that’s down 4%, but in-line with previous guidance. That translates to EBIT margins of approximately 17% and adjusted EBIT margins of approximately 18%.
It’s worth noting the operating results include acquisitions through the quarter such as Simms Fishing and Fox Racing in the Outdoor Products segment.
Vista Outdoor is planning a spin-off of their two segments into separate companies. Despite the departure of their CFO, the spin-off remains on track according to CEO Chris Metz.