<p>约翰逊户外（Johnson Outdoors，股票代码：JOUT）已召开其第四季度财报电话会议。以下是会议的主要亮点。</p>
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<ul>
<li>解锁对冲基金级别的数据和强大的投资工具，帮助您做出更聪明、更精准的决策</li>
<li>通过最新的新闻和分析保持市场领先，使您的投资组合始终处于最大潜力的状态</li>
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<p>约翰逊户外最近的财报电话会议描绘了复杂的情绪，表现为下半年强劲的增长和成功的产品发布。尽管取得了这些成就，但整体销售保持平稳，财务状况受到税务支出的影响，市场不确定性依然存在。</p>
<h2>2025 年下半年双位数增长</h2>
<p>公司在 2025 年下半年报告了令人印象深刻的双位数增长，这得益于成功的新产品发布。这一增长为财年的强劲收尾做出了贡献，突显了公司创新和捕捉市场需求的能力。</p>
<h2>运营亏损减少</h2>
<p>约翰逊户外在盈利能力方面取得了进展，运营亏损减少至 1620 万美元，相较于 2024 财年有所改善。这标志着公司在提升财务表现方面的积极趋势。</p>
<h2>成功的产品发布</h2>
<p>Humminbird 的 XPLORE 系列和 MEGA Live 2 鱼探器的发布超出了需求预期，并获得了行业奖项，突显了公司在产品创新和市场渗透方面的成功。</p>
<h2>毛利率提高</h2>
<p>2025 财年的毛利率提高至 35.1%，比去年上升 1.2 个百分点。这一增长反映了公司有效的节约成本措施和更高的销售量。</p>
<h2>正现金流和库存减少</h2>
<p>连续第三年，约翰逊户外实现了来自运营的正现金流，得益于库存减少 3900 万美元。这一财务纪律证明了公司强大的运营管理能力。</p>
<h2>无债务资产负债表</h2>
<p>公司保持无债务的资产负债表，健康的现金状况为未来的投资和增长机会提供了坚实的基础。</p>
<h2>公司销售持平</h2>
<p>尽管在某些领域取得了成功，但公司在整个财年的总销售额与去年持平，表明在实现整体销售增长方面面临挑战。</p>
<h2>税务支出的影响</h2>
<p>记录了一项 2500 万美元的重大税务支出，主要由于美国递延税资产的 2590 万美元非现金准备金，影响了公司的财务结果。</p>
<h2>露营和水上运动销售下降</h2>
<p>2025 财年，露营和水上运动业务的销售下降，主要是由于 Eureka！库存的清理，突显了需要战略关注的领域。</p>
<h2>市场不确定性</h2>
<p>户外休闲市场仍然不确定，全球宏观经济挑战预计将持续，给未来的表现带来潜在风险。</p>
<h2>前瞻性指导</h2>
<p>展望未来，约翰逊户外计划继续投资于以消费者为驱动的创新以及数字和电子商务增长，作为其 2026 财年的战略优先事项。公司旨在在减少运营费用和改善利润率的基础上，推动未来的增长。</p>
<p>总之，约翰逊户外的财报电话会议反映了乐观与谨慎的结合。尽管公司在产品发布和财务改善方面取得了显著成功，但销售持平和市场不确定性等挑战依然存在。随着公司展望未来，专注于创新和战略投资将是应对不断变化的市场环境的关键。</p>

约翰逊户外

<p>约翰逊户外的第四季度财报电话会议强调了 2025 年下半年强劲的增长，这得益于成功的产品发布，尽管整体销售持平且税务支出对财务产生了影响。公司报告了运营亏损的减少、毛利率的改善、正现金流以及无债务的资产负债表。面临的挑战包括销售持平以及露营和水上交通工具销售的下降。展望未来，公司计划专注于创新和数字增长，以应对市场的不确定性</p>

<p>Johnson Outdoors ((JOUT)) has held its Q4 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>约翰逊户外（Johnson Outdoors，股票代码：JOUT）已召开其第四季度财报电话会议。以下是会议的主要亮点。</p>
</div><h3>Claim 50% Off TipRanks Premium and Invest with Confidence</h3>
<div class="lb-trans"><h3>享受 TipRanks Premium 50% 折扣，信心投资</h3>
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<li>Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions</li>
<li>Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential</li>
</ul>
<div class="lb-trans"><ul>
<li>解锁对冲基金级别的数据和强大的投资工具，帮助您做出更聪明、更精准的决策</li>
<li>通过最新的新闻和分析保持市场领先，使您的投资组合始终处于最大潜力的状态</li>
</ul>
</div><p>Johnson Outdoors’ recent earnings call painted a picture of mixed sentiments, characterized by strong growth in the latter half of the year and successful product launches. Despite these achievements, the overall sales remained flat, and financials were impacted by tax expenses amidst market uncertainties.</p>
<div class="lb-trans"><p>约翰逊户外最近的财报电话会议描绘了复杂的情绪，表现为下半年强劲的增长和成功的产品发布。尽管取得了这些成就，但整体销售保持平稳，财务状况受到税务支出的影响，市场不确定性依然存在。</p>
</div><h2>Double-Digit Growth in Second Half 2025</h2>
<div class="lb-trans"><h2>2025 年下半年双位数增长</h2>
</div><p>The company reported impressive double-digit growth in the second half of 2025, driven by successful new product launches. This growth contributed to a strong finish for the fiscal year, highlighting the company’s ability to innovate and capture market demand.</p>
<div class="lb-trans"><p>公司在 2025 年下半年报告了令人印象深刻的双位数增长，这得益于成功的新产品发布。这一增长为财年的强劲收尾做出了贡献，突显了公司创新和捕捉市场需求的能力。</p>
</div><h2>Reduction in Operating Loss</h2>
<div class="lb-trans"><h2>运营亏损减少</h2>
</div><p>Johnson Outdoors showed progress in profitability with a reduction in operating loss to $16.2 million, an improvement compared to fiscal 2024. This marks a positive trend in the company’s efforts to enhance its financial performance.</p>
<div class="lb-trans"><p>约翰逊户外在盈利能力方面取得了进展，运营亏损减少至 1620 万美元，相较于 2024 财年有所改善。这标志着公司在提升财务表现方面的积极趋势。</p>
</div><h2>Successful Product Launches</h2>
<div class="lb-trans"><h2>成功的产品发布</h2>
</div><p>The launch of Humminbird’s XPLORE Series and MEGA Live 2 fishfinders exceeded demand expectations and garnered industry awards, underscoring the company’s successful product innovation and market penetration.</p>
<div class="lb-trans"><p>Humminbird 的 XPLORE 系列和 MEGA Live 2 鱼探器的发布超出了需求预期，并获得了行业奖项，突显了公司在产品创新和市场渗透方面的成功。</p>
</div><h2>Increase in Gross Margin</h2>
<div class="lb-trans"><h2>毛利率提高</h2>
</div><p>The gross margin for fiscal 2025 improved to 35.1%, up 1.2 points from the previous year. This increase reflects the company’s effective cost-saving initiatives and higher sales volumes.</p>
<div class="lb-trans"><p>2025 财年的毛利率提高至 35.1%，比去年上升 1.2 个百分点。这一增长反映了公司有效的节约成本措施和更高的销售量。</p>
</div><h2>Positive Cash Flow and Inventory Reduction</h2>
<div class="lb-trans"><h2>正现金流和库存减少</h2>
</div><p>For the third consecutive year, Johnson Outdoors achieved positive cash flow from operations, aided by a significant reduction in inventory by $39 million from fiscal 2024. This financial discipline is a testament to the company’s robust operational management.</p>
<div class="lb-trans"><p>连续第三年，约翰逊户外实现了来自运营的正现金流，得益于库存减少 3900 万美元。这一财务纪律证明了公司强大的运营管理能力。</p>
</div><h2>Debt-Free Balance Sheet</h2>
<div class="lb-trans"><h2>无债务资产负债表</h2>
</div><p>The company maintains a debt-free balance sheet, bolstered by a healthy cash position, which provides a strong foundation for future investments and growth opportunities.</p>
<div class="lb-trans"><p>公司保持无债务的资产负债表，健康的现金状况为未来的投资和增长机会提供了坚实的基础。</p>
</div><h2>Flat Company Sales</h2>
<div class="lb-trans"><h2>公司销售持平</h2>
</div><p>Despite the successes in certain areas, total company sales for the full fiscal year were flat compared to the prior year, indicating challenges in achieving overall sales growth.</p>
<div class="lb-trans"><p>尽管在某些领域取得了成功，但公司在整个财年的总销售额与去年持平，表明在实现整体销售增长方面面临挑战。</p>
</div><h2>Impact of Tax Expense</h2>
<div class="lb-trans"><h2>税务支出的影响</h2>
</div><p>A significant $25 million tax expense was recorded, primarily due to a $25.9 million noncash reserve on U.S. deferred tax assets, impacting the company’s financial results.</p>
<div class="lb-trans"><p>记录了一项 2500 万美元的重大税务支出，主要由于美国递延税资产的 2590 万美元非现金准备金，影响了公司的财务结果。</p>
</div><h2>Decline in Camping and Watercraft Sales</h2>
<div class="lb-trans"><h2>露营和水上运动销售下降</h2>
</div><p>Sales in the Camping and Watercraft business declined for fiscal 2025, largely due to the closeout of Eureka! inventory, highlighting areas that require strategic attention.</p>
<div class="lb-trans"><p>2025 财年，露营和水上运动业务的销售下降，主要是由于 Eureka！库存的清理，突显了需要战略关注的领域。</p>
</div><h2>Market Uncertainty</h2>
<div class="lb-trans"><h2>市场不确定性</h2>
</div><p>The outdoor recreation marketplace remains uncertain, with ongoing global macroeconomic challenges expected to persist, posing potential risks to future performance.</p>
<div class="lb-trans"><p>户外休闲市场仍然不确定，全球宏观经济挑战预计将持续，给未来的表现带来潜在风险。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>Looking ahead, Johnson Outdoors plans to continue investing in consumer-driven innovation and digital and e-commerce growth as part of its strategic priorities for fiscal 2026. The company aims to build on its financial improvements, including reduced operating expenses and improved margins, to drive future growth.</p>
<div class="lb-trans"><p>展望未来，约翰逊户外计划继续投资于以消费者为驱动的创新以及数字和电子商务增长，作为其 2026 财年的战略优先事项。公司旨在在减少运营费用和改善利润率的基础上，推动未来的增长。</p>
</div><p>In summary, Johnson Outdoors’ earnings call reflected a blend of optimism and caution. While the company achieved notable successes in product launches and financial improvements, challenges such as flat sales and market uncertainties remain. As the company looks to the future, its focus on innovation and strategic investments will be crucial in navigating the evolving market landscape.</p>
<div class="lb-trans"><p>总之，约翰逊户外的财报电话会议反映了乐观与谨慎的结合。尽管公司在产品发布和财务改善方面取得了显著成功，但销售持平和市场不确定性等挑战依然存在。随着公司展望未来，专注于创新和战略投资将是应对不断变化的市场环境的关键。</p>
</div>

约翰逊户外的财报电话会议：在挑战中实现增长