Vista Outdoor stock falls after downbeat profit outlook, CFO to leave company

Shares of Vista Outdoor Inc. fell 1.8% in premarket trading Monday, after the shooting sports and outdoor products company provided a downbeat profit outlook and said Chief Financial Sudhanshu Priyadarshi is leaving the company after 2 1/2-year in the role, offsetting an upbeat sales view. Separately, beverage company Keurig Dr Pepper Inc. announced that Priyadarshi was appointed as its CFO, effective Nov. 14. Vista Outdoor said Priyadarshi will fulfill his CFO duties through the reporting of fiscal second-quarter results, which are scheduled for release on Nov. 2, after the closing bell, with the conference call with analysts scheduled for Nov. 3. The company named Andrew Keegan, vice president of finance and treasury, as interim CFO, while it searches for a permanent replacement. Separately, the company said it expects fiscal second-quarter adjusted earnings per share of $1.71, below the FactSet consensus of $1.76. Sales are expected to be “approximately” $782 million, compared with the FactSet consensus of $755 million. Vista’s stocki has dropped 10.2% over the past three months through Friday, while the S&P 500 has lost 5.3%.

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