Smith & Wesson Brands, Inc (NASDAQ:SWBI) shares are trading higher in Thursday’s after-hours session after the company reported better-than-expected financial results.
- Q1 Revenue: $114.2 million beat estimates of $100.93 million
- Q1 EPS: 13 cents beat estimates of 5 cents
Sales were up 35.4% on a year-over-year basis. Gross margin was 26.6% versus 37.3% in the comparable quarter last year.
“We are very pleased with our first quarter performance. Our top line results reflected strong consumer demand for the Smith & Wesson brand at retail. Channel inventory of our products remained steady throughout the seasonally slow period this summer, indicating healthy pull through of our shipments at both distributor and retailer levels,” said Mark Smith, president and CEO of Smith & Wesson.
Smith also noted that innovation and healthy channel inventories are expected to act as strong tailwinds for the company heading into the fall.
Management will hold a conference call to discuss its quarterly results at 5 p.m. ET.
Check This Out: DocuSign Delivers Strong Q2 Earnings: Digging Into The Details
SWBI Price Action: Smith & Wesson shares were up 10.4% after hours at $11.60 at the time of publication, according to Benzinga Pro.
Photo: tung256 from Pixabay.
