The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Matt Koranda - Roth Capital Partners LLC - Analyst
: So I guess I just wanted to start with the 4% sell-through metric that you shared. How much of your revenue in a given quarter, do you have
visibility into a POS? And maybe just which brands were tracking ahead of that 4% sell-through metric? And what were maybe tracking a
little bit below?
Question: Matt Koranda - Roth Capital Partners LLC - Analyst
: Okay. All right. That's helpful, Brian. And then I was going to ask you referenced the November performance in the prepared remarks and
just now, up 13%, I guess, in outdoor lifestyle, but then the guide for the quarter looks like it's down 8%. So maybe just help us kind of sketch
the disconnect there? Is it Shooting Sports a little weaker in the quarter? Or is there some inventory overhang that still needs to clear out
among your traditional retailers? Maybe just help us understand the gap there.
Question: Matt Koranda - Roth Capital Partners LLC - Analyst
: Got it. What can you do to, if anything, I guess, to mitigate the softness from the large customer in the e-com channel that seems to be
causing some of the revenue headwinds for you guys in the near term? Do we just have to lap the adjustments that they've made to sort
of the inventory that they carry? Or are there any levers you have to pull on your end to sort of stabilize that channel a little bit.
Question: Matt Koranda - Roth Capital Partners LLC - Analyst
: Got it. I'll just ask one more and then turn it over. But the EBITDA guide is helpful for the full year. I was curious to get a little bit more on the
seasonality as you guys see it, I would assume third quarter typically a little bit stronger for you guys seasonally on sales and profitability.
So is that a fair way to think about the split for the rest of the year? And then any tariff kind of puts and takes to help us with, Andy, on sort
of the cadence of margin for the rest of the year and what we expect in terms of tariff headwind?
Question: Doug Lane - Water Tower Research LLC - Analyst
: Just staying on tariffs. That's very helpful in laying out the cadence there. But just in stepping back, the implementation of the tariff mitigation
is complete. It's just a question of having it come around and working through the P&L. Is that right?
Question: Doug Lane - Water Tower Research LLC - Analyst
: Right. That's very helpful. It looks like you -- I mean, the numbers beat -- estimates sounds like they beat your internal forecast and a lot of
that came in the last couple of weeks of the quarter. Do you think there was maybe a little borrowing from Q3 here at the end of the quarter?
Question: Doug Lane - Water Tower Research LLC - Analyst
: Got it. Okay. And just finally, as I try to understand this disconnect between sales and POS is such a wide gap. Is there -- I mean, you would
think they would track. Do you have any visibility or any guesses on when you think the two numbers will align a little bit more closely than
where we are today?
Question: Doug Lane - Water Tower Research LLC - Analyst
: Well, no questions, it's been a challenging environment. That's helpful.
Question: Mark Smith - Lake Street Capital Markets LLC - Analyst
: I wanted to ask first just a little bit about consumer trends, primarily any other insights you can give us around Black Friday and kind of
point-of-sale trends that you saw there. And also, curious if you've seen any bump really from Florida and maybe how much of your products
maybe fall under a tax holiday there.
Question: Mark Smith - Lake Street Capital Markets LLC - Analyst
: Okay. And then next question is just thinking about new products. You guys talked about SHOT Shows, some new products coming in and
you guys really proved you can enter new markets with Caldwell as we think about Shotgun Sports here. I'm curious as we think about
these new products that you have in the pipeline, will -- should we look at a lot of these coming in kind of backfilling markets where you
currently play? Or are there new segments and markets that you expect to enter here over the next 12 months?
Question: Mark Smith - Lake Street Capital Markets LLC - Analyst
: Excellent. Looking forward to seeing it. The last one for me is just any update on M&A. I think last quarter, you talked about maybe fewer
kind of high-quality targets out there. Have you seen any changes in kind of the M&A landscape?
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