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Smith & Wesson Brands Inc. reported its third-quarter earnings, revealing net sales of $115.9 million, which fell short of analysts' expectations of $119.5 million. The company's gross margin was reported at 24.1%, with a non-GAAP gross margin of 25.1%. Earnings per share (EPS) were $0.04, while adjusted EPS stood at $0.02. This revenue miss led to an 8% decline in the company's shares during after-hours trading. Year-over-year, net sales decreased by 15.7%. CEO Mark Smith noted that despite the revenue shortfall, new products continue to perform well.
Smith & Wesson $SWBI drops 8% after-hours on revenue miss 📉 Please read more here ⤵️ https://t.co/TkS0XPOTgU
🔫 Smith & Wesson $SWBI drops 8% after-hours on revenue miss 📉 Smith & Wesson $SWBI shares fell nearly 8% in after-hours trading after missing revenue estimates for Q3. The firearms maker reported $115.9M in revenue, below the expected $119.5M, with net sales down 15.7% YoY.… https://t.co/Dp7WdYRiPj
$SWBI (-9.3% pre) Smith & Wesson Falls 8% After-Hours On Revenue Miss, CEO Mark Smith Says 'New Products Continue To Perform Very Well' https://t.co/2kmV9yVcAx
