Johnson Outdoors Inc. (NASDAQ:JOUT) Q4 2022 Earnings Call Transcript

Anthony Lebiedzinski: Okay, got you. Okay. And then your balance sheet still remains a strong sort of even though, to your point, you have higher than normal inventories — can you just talk about your cash flow priorities? And also CapEx, it looks like it was higher than normal this year, and you sort of ballpark estimate, Dave, as to where you think fiscal ’23 CapEx will be?

David Johnson: Yes. I mean the CapEx spending will — we expect that to go down in fiscal ’23, maybe 15%, 20% versus where we added ’22. We had some facility work that we did in ’22 that is not going to be repeatable, not repeated in ’23. So I would expect a 15%, 20% decline in CapEx.

Anthony Lebiedzinski: Okay. Okay. And then otherwise, your cash flow priorities, I know you talked about the dividend. Are you guys still looking at potential acquisitions or maybe looking at buying shares?

Helen Johnson-Leipold: Well, we’re always looking for good acquisitions. And they have to fit, they have to be strategic, and it’s always on a radar screen. So from that perspective, again, always, always looking. Dave, can you talk about the ?

David Johnson: Yes. I mean beyond that, we like to see a good healthy dividend and I think we’ve achieved that. So we’ll continue to look at our regular dividend and make sure that’s meaningful for the — for shareholders and as we’ve talked before, I mean, we look at all other options on how to utilize the cash beyond growth for the company. And that’s an ongoing discussion about other options that we utilize the cash.

Anthony Lebiedzinski: Understood. Okay. Well, thank you and best of luck.

Helen Johnson-Leipold: Great. Thank you.

Operator: And I’m currently showing no further questions at this time. I’d like to hand the conference back over to Ms. Helen Johnson-Leipold for closing remarks.

Helen Johnson-Leipold: Thank you, everyone, and I hope you have a wonderful holiday season. Thank you.

Operator: Thank you. This concludes today’s conference call. Thank you for your participation. You may now disconnect. Everyone, have a wonderful day.