Smith & Wesson Reveals Surging 4Q Profits Amid 'Robust Consumer Demand'
Smith & Wesson (SWHC) more than doubled its fiscal fourth-quarter earnings on Tuesday and issued a bullish outlook as the firearms manufacturer continues to capitalize on rising demand for guns.
Sales soared 37.6% to a new record of $178.7 million, topping the Street’s view of $170.7 million. Gross profits expanded to 38.3% from 36.1%.
Like many firearms manufactures, Smith & Wesson has seen a rise in demand since the Sandy Hook massacre in Newtown, Conn. in December. The mass shooting sparked fears of much tighter gun control legislation from Congress, although the gun lobbyists helped block a bill requiring universal background checks earlier this year.
Looking ahead, Smith & Wesson forecasted fiscal first-quarter revenue of $162 million to $167 million and non-GAAP EPS of 34 cents to 37 cents. Both figures would exceed current forecasts from analysts for sales of $141 million on EPS of 30 cents.
Smith & Wesson Reveals Surging 4Q Profits Amid 'Robust Consumer Demand'
Yeah I know S&W used to be the importer/distribution channel for Walther. But that ended for good at the beginning of the year. On the plus side for the editors, that does look like an M&P of some sort in the back ground, and a Shield in the foreground. Maybe an archive photo from the S&W booth at a show. Any PR pic's from S&W would almost certainly NOT feature Walther front and center.
I wonder if the unintended consequences of the push for greater 2A restriction is clicking in for the antis. Clearly ammunition and certain firearms have become scarce and expensive and it's boosting the bottom line for some manufacturers. Not sure if it really helps the local gun store though.