We intend to utilize strategic promotions to work through the high-priced inventory and continue driving market share gains across categories regardless of external market factors. We are building momentum from the ground up and expect sequential margin improvements from Q3 to Q4 finishing the fiscal year strong. To our efforts in the back half of fiscal year 2024, our inventory will be right sized. Our restructuring program will begin taking hold and other strategic growth initiatives across the company will fuel organic top line growth reversing the declines experienced over the past few quarters, carrying us into fiscal year 2025 with momentum. Lastly, in the near term, I am excited to announce the first ever Revelyst list that showcases select great products that our teams have built in time for the holidays.
These products range across our brands. From Foresight Sports, we have the all new Foresight Falcon to shave strokes off your game with the best launch monitor and simulator technology on the market. Our Bushnell Live Camera with True Target and onX integration lets you see live video of the wildlife you manage, the spots you scout, and the property you protect. From our QuietKatelectric bikes, we offer the all new QuietKatlinks to take you from the trails to around the town. From Simms fishing products, we have the all new Challenger 7inch deck boot purpose built fishing footwear that’s extremely versatile around and off the water. And from Giro, just in time for the skiing season, we offer the all new Owen Spherical Helmet built for moments on the mountain with modern styling, premium innovations, and all day comfort.
This is just a short list highlighting the culture of innovation we have. You will be able to find the full Revelyst list across all of our social channels and our website, revelyst.com along with the unique stories behind each product. In closing, our future at Revelyst is bright, but we have hard work to do, our future value creation will come from streamlining and efficiency savings, brand Building, incredible consumer focused innovation, an expanded international footprint, doubling down on our own D2C business, and expanding our technology in gaming investments, particularly within the Precision Sports and Technology area. We look forward to sharing more of those plans in the months ahead as we work towards our Investor Day being rescheduled for Spring 2024.
I’ll now hand it over to Andy to provide a financial update for the quarter. Andy, over to you.
Andrew Keegan: Thank you Eric and hello everyone. My comments today will focus on adjusted results compared to the prior year period, unless otherwise noted, which are presented using non-GAAP financial measures. In the appendix to the slide presentation, we have included reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures. For additional information regarding forward looking statements and non-GAAP financial measures, please refer to page 30 of the slide presentation. Further, as a result of correspondence with SEC staff in connection with the separation of our Outdoor Products and Sporting Products businesses, adjusted results reflect a slightly different preparation than what was done previously and do not have an adjustment for certain retention payments.
Turning to Slide 22. For the second quarter, total sales decreased 13.4% to $677 million in line with our recent earnings prerelease. Organic sales for the quarter were $646 million down 17.4%, driven by lower shipments across nearly all categories in Sporting Products and lower volume, as channel partners continue to be cautious with purchasing due to inventory levels and short-term consumer pressures in the Outdoor Product businesses. Gross profit was $209 million and gross margin decreased 270 basis points to 30.9%. The decline was primarily due to lower volumes and price in our Sporting Products segment and decreased volumes in the organic Outdoor Products businesses, partially offset by acquisitions. EBITDA in the quarter decreased 27.6% to $116 million and EBITDA margin was 17.2%, down 370 basis points.
Organic EBITDA for the quarter was $114 million a decrease of 29.2%. Organic EBITDA margin in Q2 was 17.6%, down 292 basis points. The decline was driven by lower gross profits in both segments, partially offset by decreased selling costs and Sporting Products, and decreased selling general and administrative expenses related to the organic businesses in outdoor products. Second quarter EPS decreased 42.5% to $0.96. Turning to Slide 23, our balance sheet remains healthy. Year-to-date free cash flow was $116 million.Net debt decreased $27 million sequentially to $905 million and our net debt leverage ratio is now at 1.8 times. Turning to our segment’s results on Slide 24. Within Outdoor Products, sales decreased 6.3% in Q2 to $327 million. Organic sales were down 15.2% to $296 million in Q2, driven primarily by lower volumes as channel partners continue to be cautious with purchasing due to inventory levels and as consumers are pressured by higher interest rates and other short-term factors affecting their purchases of consumer durable goods.
Gross profit decreased 12% in Q2 to $94 million due to lower volume from organic businesses, partially offset by acquisition. Gross margin decreased 197 basis points to 28.6%. EBITDA in Q2 was $30 million, down 33% with an EBITDA margin of 9.3% down 370 basis points. Organic EBITDA decreased 38.4% to $28 million and organic EBITDA margin decreased to 9.4%, down 354 basis points. The decline in the quarter was primarily driven by decreased gross profit, partially offset by reduced selling, general, administrative costs related to organic business. For Sporting Products, sales in Q2 decreased 19.2% to $350 million. Driven by lower shipments across nearly all categories as channel inventory has normalized, lower pricing and the previously announced termination of the Lake City contract at the beginning of the third fiscal quarter in the prior year.
