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Tag: Smith & Wesson Brands Inc Stock

  • Smith & Wesson Brands Inc. (SWBI) stock Collapses After Hours on Fiscal 2022 Q3 Earnings

    Smith & Wesson Brands Inc. (SWBI) stock Collapses After Hours on Fiscal 2022 Q3 Earnings

    On March 03, Smith & Wesson Brands Inc. (SWBI) posted its financial results for the third quarter of fiscal 2022, which ended on January 31, 2022. Consequently, the stock plunged deep in the after-hours on Thursday.

    It seems investors were already expecting not-so-good quarterly earnings as the stock was in the red during the regular session as well. While the anticipation did cause the stock to trade at 149% of its average volume, SWBI lost 1.05% during the session. Thus, the stock closed the session at $17.89 as 1.7 million shares traded hands. Following the announcement, the stock suffered a further loss of 19.73% in the after-hours. Hence, SWBI stock had a price of $14.36 per share in the after-hours on Thursday.

    The firearms producer, Smith & Wesson Brands Inc. is a holding company founded in 1852. Currently, the company has a market capitalization of $873.17 million with its 48.29 million shares outstanding.

    SWBI’s Fiscal Q2 2022

    For fiscal Q2 2022, the company reported net sales of $177.7 million with a decline of $79.9 million or 31.0% YOY. In comparison to fiscal 2020’s Q2, the net sales increased by 139.5%.

    Moreover, the company had a gross margin of 39.6% in fiscal Q2 2022, against 42.6% in the year-ago quarter.

    SWBI had a non-GAAP net income of $32.9 million in fiscal Q2 2022, against $62.4 million in the prior-year period. Thus, the non-GAAP net income per diluted share was $0.69 and $1.12 in fiscal Q2 of 2022 and 2021 respectively.

    Furthermore, the company reported non-GAAP adjusted EBITDAS of $51.9 million in the quarter, which was 29.2% of net sales. Comparatively, the same was $89.9 million or 34.9% of net sales in the year-ago quarter.

    Additionally, the company bought 2,788,152 of its common stock shares for $50.0 million during the quarter.

    Source: Investopedia

    SWBI’s Headquarter Relocation

    On September 30, 2021, the company announced the relocation of its headquarters and most operations to Maryville, Tennessee in 2023. Having been based in Springfield, Massachusetts since 1852, the reason for the relocation is proposed new legislation in Massachusetts. If enacted, the legislation will prohibit the manufacturing of certain firearms in the state. Therefore, the company decided upon its relocation for the first time since it was incorporated. The new location was chosen after careful consideration of a multitude of factors.

  • What Raised The SWBI Stock In After Market Trades?

    What Raised The SWBI Stock In After Market Trades?

    The shares of Smith & Wesson Brands Inc. (SWBI) rose 5.27% to trade at $20.97 in after-hours trading. SWBI’s stock closed Thursday’s session at $19.92, down -3.07 percent from Wednesday’s closing price.

    SWBI stock volume remained high at 3.1 million, compared to the average daily volume of 1.38 million within the past 50 days. SWBI shares have risen by 43.13% over the last 12 months, and they have moved down by -4.87% in the past week.

    Over the past three months, the stock has gained 7.62%, while over the past six months, it has shed 15.61%. Further, the company has a current market of $1.05 billion and its outstanding shares stood at 55.14 million. SWBI stock gained traction following the release of its quarterly results.

    How did SWBI perform?

    A leading U.S. manufacturer of firearms and suppressors, Smith & Wesson Brands is known for its wide offering of handguns, long guns, and suppressors. SWBI serves consumers and professionals around the world under the iconic Smith & Wesson, M&P, and Gemtech brands. In addition to forging, machining, and precision plastic injection molding, SWBI also offers manufacturing services.

    Smith & Wesson released its fourth quarter and full year ended April 30, 2021, financial results yesterday.

    Fourth Quarter Fiscal 2021 Financial Highlights:

    • Quarterly Sales of SWBI in the fourth quarter totaled $322.9 million, in comparison with $193.0 million in the same period last year.
    • A gross margin of 45.1% was achieved by SWBI for the quarter, compared to 32.2% in the year-ago quarter.
    • Compared with $20.9 million, or $0.38 per diluted share, in last year’s comparable quarter, SWBI’s GAAP net income for the current quarter was $89.2 million, or $1.70 per diluted share.
    • SWBI’s Net income for the comparable quarter last year was $27.5 million, or $0.50 per diluted share, as compared with $89.6 million this quarter, or $1.71 per diluted share.
    • During the comparable quarter last year, non-GAAP Adjusted EBITDAS of SWBI was $51.6 million, or 26.7% of net sales, while it was $125.6 million or 38.9% of net sales in the reported quarter.

    SWBI’s further plans:

    The SWBI Board approved a new $50 million share repurchase program, in addition to a 60% increase in the quarterly dividend. Dividends will be paid to SWBI stockholders on July 6th for records held on July 1st.