Sportsman’s Warehouse (NASDAQ:SPWH) Announces Earnings Results

Sportsman’s Warehouse (NASDAQ:SPWH) issued its quarterly earnings results on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01), FiscalAI reports. The company had revenue of $334.86 million during the quarter, compared to the consensus estimate of $334.89 million. Sportsman’s Warehouse had a negative return on equity of 7.20% and a negative net margin of 3.05%.

Here are the key takeaways from Sportsman’s Warehouse’s conference call:

• First full-year positive comps since 2020 — net and comparable store sales grew 1% for FY2025 with strong category performance (hunting/shooting up >5% in Q4; fishing +10.3% for the year) and e‑commerce up 8.3% in Q4, which management says validates its turnaround work.
• Improved financial discipline and liquidity — inventory fell $29.1M (‑8.5% YoY), net debt declined to $90M, and the company generated $8.9M of free cash flow while delivering $27.5M of adjusted EBITDA for the year, beating its revised expectations.
• Management provided 2026 guidance calling for same‑store sales of down 1% to up 2% and adjusted EBITDA of $30M–$36M, reflecting cautious top‑line assumptions but an expectation of modest EBITDA improvement driven by margin and inventory discipline.
• Q4 margin and profitability pressures — gross margin fell to 28.4% (from 30.4% a year ago) due to category mix and promotional activity, and the company reported a GAAP net loss of $21.7M (adjusted net loss $3.9M), with adjusted EBITDA down vs. prior‑year Q4.
• Strategic initiatives to drive future growth — management plans a loyalty program overhaul, firearm solution bundling (to boost online-to-in-store conversion and attachment), and an omni‑channel fishing push aimed at materially growing market share over the next 3–4 years.

Sportsman’s Warehouse Stock Performance

NASDAQ:SPWH traded up $0.11 during mid-day trading on Tuesday, hitting $1.41. The company’s stock had a trading volume of 853,137 shares, compared to its average volume of 436,738. The stock has a market cap of $54.26 million, a price-to-earnings ratio of -1.45 and a beta of 0.60. Sportsman’s Warehouse has a 1 year low of $0.92 and a 1 year high of $4.33. The business’s fifty day moving average is $1.33 and its two-hundred day moving average is $1.87. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.20 and a quick ratio of 0.06.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sportsman’s Warehouse in a research report on Monday, December 29th. Roth Mkm reduced their target price on Sportsman’s Warehouse from $4.25 to $2.25 and set a “buy” rating on the stock in a research report on Friday, December 5th. Robert W. Baird lowered their price target on Sportsman’s Warehouse from $3.50 to $2.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Finally, Wall Street Zen upgraded Sportsman’s Warehouse from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2.95.

Institutional Investors Weigh In On Sportsman’s Warehouse

Hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC lifted its stake in shares of Sportsman’s Warehouse by 11.3% in the 4th quarter. Empowered Funds LLC now owns 192,358 shares of the company’s stock valued at $281,000 after purchasing an additional 19,465 shares during the period. Bridgeway Capital Management LLC grew its position in Sportsman’s Warehouse by 16.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 564,401 shares of the company’s stock valued at $824,000 after buying an additional 78,365 shares during the period. Archon Capital Management LLC increased its holdings in Sportsman’s Warehouse by 51.6% in the fourth quarter. Archon Capital Management LLC now owns 1,668,905 shares of the company’s stock valued at $2,437,000 after buying an additional 568,151 shares in the last quarter. Quinn Opportunity Partners LLC raised its position in shares of Sportsman’s Warehouse by 54.2% in the fourth quarter. Quinn Opportunity Partners LLC now owns 497,781 shares of the company’s stock worth $727,000 after acquiring an additional 175,000 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Sportsman’s Warehouse in the fourth quarter worth about $41,000. Institutional investors and hedge funds own 83.04% of the company’s stock.

More Sportsman’s Warehouse News

Here are the key news stories impacting Sportsman’s Warehouse this week:

• Positive Sentiment: Management highlighted operational improvements — full‑year same‑store sales growth of 1%, inventory decreased by $29.1M (8.5%) and net debt was reduced by 6.1% — signaling better working capital and leverage trends. GlobeNewswire: Q4 & FY2025 Results
• Positive Sentiment: Some analysts and technical commentaries are bullish — calls that SPWH is a “buy the bottom” and revisions to estimates ahead of earnings may support a near‑term turnaround. Zacks: Buy-the-Bottom Thesis
• Neutral Sentiment: Revenue was essentially in line with expectations (~$334.86M vs. consensus ~$334.88M), and the company provided a 2026 outlook; this limits surprise but gives markets forward guidance to trade on. Press Release / Presentation
• Negative Sentiment: EPS missed modestly — a loss of ($0.10) vs. consensus ($0.09) — and the company swung from a year‑ago profit ($0.04) to a loss, underscoring margin pressure and weighing on near‑term sentiment. Zacks: Q4 Loss & Miss
• Negative Sentiment: Profitability metrics remain weak (negative net margin ~3.05% and negative ROE), and the report prompted near‑term selling pressure — reports noted an intraday drop after the release — reflecting investor concern over recovery pace. MSN: Stock Reaction

About Sportsman’s Warehouse

Sportsman’s Warehouse, Inc (NASDAQ: SPWH) operates as a specialty retailer of hunting, shooting, fishing, camping and related outdoor sports equipment in the United States. The company’s brick-and-mortar footprint comprises over 100 retail locations across more than 20 states, complemented by an e-commerce platform that serves anglers and outdoorsmen nationwide. By focusing on core outdoor activities, Sportsman’s Warehouse delivers a comprehensive shopping experience for enthusiasts of all skill levels.

The retailer’s product assortment includes firearms and ammunition, archery gear, fishing tackle and boats, camping supplies, outdoor apparel and footwear, water sports equipment and pet supplies.