Okay, which one of you is buying all the ammo? No seriously. As if 2020 isn’t bad enough – viruses, unrest, elections – the lifeblood of the one thing that keeps me grounded in this crazy world has dried up. Forget trying to buy 5.56x45mm, 300BLK or 9mm, even semi obscure calibers are nowhere to be found. And I don’t hear a lot more shooting/training going more than usual. So where is it all? As evidence of the historic demand, Fox Business is reporting that Vista Outdoor is behind on ammunition orders by a year and over a billion dollars. I’m sure my order is in there somewhere.
Previously on TFB:
Sign Of The Times: Vista Outdoor 1 Year And $1B Behind In Ammo Orders
Source: Fox Business
Big-name shooting sports company Vista Outdoor Inc. reported “over a year’s worth” of backlogged ammunition orders worth more than $1 billion, an official said recently.
Vista was reporting its second-quarter earnings when CEO Chris Metz detailed what announced the backlog, which he called “unprecedented” for the company.
“We currently have over a year’s worth of orders for ammunition in excess of $1 billion,” Metz said during the Nov. 5 call. “With demand far outstripping supply and inventory levels in the channel at all-time lows, we see strong demand continuing, and this metric informs our viewpoint of what a recovery or normalization could look like.”
He added that he was providing the additional context “to convey an underlying strength and strong foundational element to our business.”
In August, FOX Business reported that ammo was hard to come by after the number of gun purchases soared amid civil unrest and political concerns, among other reasons.
Vista successfully bid $81.4 million to acquire Remington Arms’ ammunition and accessories businesses, its Arkansas manufacturing facility and the brand’s intellectual property.
In addition to its Remington acquisition, Metz attributed the quarter’s improved revenue to several factors, including the surge in hunting as people seek outlets amid the pandemic; the skyrocketing number of first-time gun buyers; and the increased diversity among firearms purchasers – “in part inspired by safety and personal protection,” he said. (Read More).