American Outdoor Brands, Inc. (NASDAQ:AOUT) Q3 2024 Earnings Call Transcript

Brian Murphy: Yes. It’s Brian again. And Andy, feel free to chime in. So generally, in terms of our philosophy, we tend to be a little bit more cautious when we see multiples go way up and the market becomes more frothy. We did Grilla over the last few years, but it was very selective and very targeted. And now, we’re seeing sort of the M&A market has come down, slowed down a little bit. We’re seeing signs of it beginning to pick back up; we’re seeing a few more decks from banks with sell-side deals. And we couldn’t be in a better position. Like you alluded to, we’re in a great cash position. We have dry powder. We have no debt and so, we’re on the hunt. We are actively looking, meeting with companies directly or through advisers. But we’ve got a great pipeline that we’re executing against and you never know when one is going to hit. But we’ve got a very clear perspective on who it is that we need to go after, and we’re executing on that.

Mike Zabran: Got it. That’s off from me guys. Congrats on the quarter.

Operator: This concludes our question-and-answer session. I’d like to turn the call back over to Brian Murphy for closing remarks.

Brian Murphy: Thank you, operator. Before we close, I want to let everyone know that we’ll be participating in the ROTH Conference in California on March 18 and 19 and hope to see some of you there. I want to also thank our employees for their dedication and our shareholders for their support. Thanks everyone for joining us today. We look forward to speaking with you again next quarter.

Operator: The conference has now concluded. Thank you for your participation. You may now disconnect your lines.