Sportsman's Warehouse outlines FY2026 adjusted EBITDA of $30M-$36M amid a more promotional cadence

Sportsman's Warehouse surpassed expectations in Q2 2026, reporting a smaller-than-expected net loss and revenue just above estimates. The outdoor retailer's shares jumped in after-hours trading following the earnings call. While the company's net loss narrowed to $4.4 million, or 11 cents per share, from $7.1 million, or 18 cents per share a year earlier, revenue grew slightly to $295.6 million, up 0.6% from $293.9 million last year.

Gross margin expanded by 50 basis points, and adjusted EBITDA increased by 4.8% to $8.7 million. Sportsman's Warehouse highlighted improvements in its hunting and shooting sports business, supported by strong growth in firearms and ammunition sales. The company also reported progress in inventory control, with total inventory falling to $399 million from $443.5 million a year earlier.

Despite a slight decline in fishing sales, the company remains optimistic about the back half of the year, particularly the hunting season in Q3 and holiday demand in the fourth quarter.