Sportsman’s Warehouse backs FY25 revenue view down 1% to up 3.5%

Backs FY25 adjusted EBITDA view $33M-$45M. Backs FY25 capital expenditures $20M-$25M. Jeff White, CFO of Sportsman’s Warehouse (SPWH), said, “We entered 2025 with a clear focus on execution, and our first quarter results demonstrate disciplined financial management across the organization. We delivered sales growth and gross margin expansion, while actively managing variable expenses and strategically navigating the evolving tariff landscape and changes in international trade policy. In anticipation of increased tariffs, we made targeted inventory investments to secure critical products ahead of seasonal demand, ensuring both cost containment and product availability in key categories. Our approach strategically balanced near-term gross margin pressure with inventory readiness to strengthen our omnichannel customer experience. Looking ahead, we remain committed to generating positive free cash flow for the year, driving improved inventory productivity, and paying down our debt.”