Smith & Wesson (NASDAQ:SWBI) earnings for the gun company’s have SWBI stock dipping lower after the close on Thursday. This comes after reporting adjusted earnings per share of 57 cents on revenue of $233.64 million.
Let’s take a deeper dive into the most recent Smith & Wesson earnings report below.
- Adjusted per-share earnings are up 119.2% compared to 26 cents in the fiscal fourth quarter of 2019.
- Revenue for the quarter is sitting 32.9% higher than the $175.73 million reported during the same period of the year prior.
- Operating loss of $65.75 million is a negative switch year-over-year from an operating income of $15.29 million.
- The Smith & Wesson earnings report also has it bringing in a net loss of $66.14 million.
- That’s a decline compared to its net income of $9.83 million from the same time last year.
Mark Smith, co-president and co-CEO of Smith & Wesson, said this in the earnings report.
“Our results were favorably impacted by changes in the timing of our excise tax assessment, as well as strong consumer acceptance of our M&P9 Shield EZ pistol, an expansion of our award-winning line of self-defense pistols in fiscal 2020. In addition, our internal inventory levels allowed us to address the sudden increase in customer demand for our firearms in the quarter”
Smith & Wesson doesn’t discuss guidance in its current earnings report. The company will be holding a conference call at 5:00 p.m. Eastern Time to go over the results. The call will be available via calling in or from the company’s website.
SWBI stock was down 2.1% after-hours Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
