Smith & Wesson Brands Q1 Results Miss Expectations; Shares Drop

  • Investing.com
  • Stock Market News
Smith & Wesson Brands Q1 Results Miss Expectations; Shares Drop
Credit: © Reuters.

By Yasin Ebrahim

Investing.com -- Smith & Wesson Brands reported Thursday quarterly results that missed analysts' estimates as demand for firearms normalized and bloated inventory levels weighed on sales.

Smith & Wesson Brands Inc (NASDAQ: SWBI ) fell more than 10% in afterhours trading following the report.  

The company reported adjusted earnings per share of $0.11 in Q1 on revenue of $84.4 million, missing Wall Street estimates for $0.21 a share and $129.8 million, respectively, 

The weaker-than-expected results "reflected a return to a normal demand pattern at the retail counter for firearms combined with temporary headwinds from inventory corrections within the channel," the company said.

Looking ahead, the company said it continued to "expect strong profitability over the remainder of the year aided by our disciplined approach to cost control and promotional spending."

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100