Johnson Outdoors reports operating loss and flat sales despite strong second half

Johnson Outdoors – owner of the Humminbird, Minn Kota and Cannon fishing electronics brands – recorded an operating loss of $16.2m in its latest financial year.

The result compared with an operating loss of $43.5m in the previous year. After a slow start to the year, the company saw double digit growth in the second six months and it reported total revenue that was essentially flat at $592.4m against $592.8m in the previous year.

Its fishing division – the group’s largest sector – reported a revenue increase of 2% driven primarily by the success of new product launches. At the ICAST trade show last year, Humminbird was among the award winners for its Xplore Fish Finder Series (pictured).

The Camping and Watercraft Recreation sector, which includes its fishing kayaks, saw sales decrease 13% primarily due to the closure of the Eureka! camping brand.

Johnson added that excluding the impact of Eureka! sales in the prior year, segment revenue would have increased slightly year-on-year.

“New product successes drove positive momentum in the second half of the year, resulting in a solid finish to our 2025 year,” said Helen Johnson-Leipold, Chairman and CEO. “In the midst of ongoing uncertainties in the marketplace, we continue to invest and execute on our strategic policies – innovation, operational efficiencies and ecommerce.

“We are confident that these are the right drivers for future company success.”

Net sales in the fiscal fourth quarter were $135.8m, an increase of $30m in the previous comparable quarter, with an operating loss of $8.2m comparing favourably with a loss of $42.8m.

“Despite an operating loss for the year, we drove positive cash flow from operations as we continued to reduce inventory levels thanks to our ongoing focus on improved operational efficiency,” said David W. Johnson, Chief Financial Officer.

“Looking ahead, we will continue to strategically manage costs while at the same time making critical investments to strengthen the business.”