Sportsman’s Warehouse sees FY26 adjusted EBITDA $30M-$36M

Sees FY26 same store sales down 1% to up 2%. Sees FY26 capital expenditures $20M-$25M. “We were encouraged by our performance in 2025, particularly our return to positive comparable sales growth,” said Jennifer Fall Jung, CFO of Sportsman’s Warehouse (SPWH). “We strengthened our balance sheet through disciplined inventory management, reducing inventory by 8.5%, while improving its quality and productivity. This, combined with focused expense management, allowed us to generate positive free cash flow, pay down our debt, and enhance overall liquidity. We are approaching the year with a balanced outlook. Our strategic initiatives are firmly in motion and we believe the actions we’ve taken position us to drive profitable growth, improve returns, and continue strengthening the balance sheet. Following the comprehensive review of our store fleet, we expect to close approximately five locations over the next 12 months. These closures are anticipated to occur after the holiday season, and as such, we do not expect a material impact to this year’s results.”