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Smith & Wesson Brands, Inc. (SWBI) is a leading U.S.-based firearm manufacturer, renowned for its legendary brand and innovative designs. Founded in 1852, the company's deep-rooted heritage is closely tied to revolvers, which have become a hallmark of the Smith & Wesson name. Over the years, the company has diversified its product line to include polymer pistols, with the M&P Shield being one of the market's most popular full-size models.
Headquartered in Springfield, Massachusetts, Smith & Wesson serves a broad customer base that spans global military, law enforcement, and consumer markets. The company's brand portfolio includes Smith & Wesson®, M&P®, Thompson/Center Arms™, Performance Center, and Gemtech®, all catering to various applications such as defense, law enforcement, hunting, and sporting.
Smith & Wesson operates under one reportable segment: Firearms, comprising the manufacturing and distribution of handguns, long guns, sporting rifles, shooting gear, and suppressor products. While the company has a significant footprint in the U.S. market, it also extends its reach internationally, enabling a global presence.
Recent achievements highlight Smith & Wesson's financial stability and commitment to innovation. The company consistently delivers strong financial results, with substantial income generated from its handgun products. For instance, in the first quarter of fiscal 2024, Smith & Wesson reported robust consumer demand and maintained healthy inventory levels, setting a solid foundation for the traditionally busy fall season.
The company's strategic initiatives include ongoing new product introductions and maintaining lean channel inventories to meet market demand efficiently. Smith & Wesson's manufacturing services extend beyond firearms to include forging, machining, and precision plastic injection molding, further diversifying its revenue streams.
Smith & Wesson remains dedicated to leveraging its iconic brand, innovative products, and new state-of-the-art facility in Maryville, Tennessee, to deliver value to its stockholders. With a strong balance sheet and a committed workforce, the company is well-positioned for continued growth and excellence in the firearms industry.
Smith & Wesson Brands, Inc. (SWBI) announced its first-quarter fiscal 2022 financial results will be released on September 1, 2021, after market close. A conference call will follow at 5:00 p.m. ET to discuss the results, featuring CEO Mark Smith and CFO Deana McPherson. Interested parties can listen live by phone or through the company's website. The event may include forward-looking statements, highlighting potential insights into the company’s operational performance and future outlook.
Smith & Wesson Brands, Inc. (SWBI) reported strong financial results for the fourth quarter and full fiscal year 2021, ending April 30, 2021. Q4 net sales soared to $322.9 million, up 67.3% year-over-year, with a record GAAP net income of $89.2 million ($1.70/share). For the full year, sales reached $1.1 billion, doubling the previous year, with GAAP net income of $243.6 million ($4.40/share). Gross margins improved significantly to 45.1% for Q4 and 42.4% for the year. Additionally, a new $50 million share repurchase program and a 60% increase in dividends were announced, reflecting strong financial health.
Smith & Wesson Brands (NASDAQ: SWBI) has announced an analyst day set for June 18, 2021, focusing on the company's long-term strategy. The event will feature presentations from Mark Smith, President and CEO, and Deana McPherson, Executive Vice President and CFO. It will begin at 9:00 a.m. Eastern Time. Interested analysts can participate via telephone by calling (888) 475-4499 with the identification number 943 1483 7811. Presentation materials will be accessible live on the company’s website.
Smith & Wesson Brands, Inc. (SWBI) announced plans to release its fourth quarter fiscal 2021 financial results on June 17, 2021, after market close. Investors can access the full press release on the company's website. A conference call will follow on the same day at 5:00 p.m. ET, featuring CEO Mark Smith and CFO Deana McPherson, discussing financial and operational results. The conference call will include forward-looking statements and can be accessed via telephone or live webcast.
Smith & Wesson Brands, Inc. (NASDAQ: SWBI) announced the appointments of Fred M. Diaz and Denis G. Suggs to its Board of Directors. Both directors bring extensive experience from leadership positions in various industries. Diaz previously led Mitsubishi Motors North America, while Suggs served as CEO for LCP Transportation. With these additions, the board now comprises eight members, with seven being independent. The chairman expressed enthusiasm for their contributions amidst ongoing strategies to enhance profitability for shareholders.
Smith & Wesson Brands, Inc. (NASDAQ: SWBI) announced on May 3, 2021, its intent to divest the Thompson/Center Arms brand as part of its strategic focus on core operations. This decision, according to CEO Mark P. Smith, aims to enhance production capacity and profitability without workforce reductions. Although no buyer has been identified, the divestiture is not expected to significantly impact Q1 fiscal year 2022 results. The company anticipates improved margins and reduced marketing costs, positioning itself to capture greater market share in the firearm industry.
Smith & Wesson Brands, Inc. (SWBI) reported a record third quarter for fiscal 2021, with net sales of $257.6 million, a 102.2% increase year-over-year. The gross margin improved to 42.6% from 28% in the previous year. GAAP net income soared to $62.3 million ($1.12 per diluted share), up from $4.2 million ($0.08 per diluted share) in Q3 2020. The company generated $60 million in cash from operations and announced a new $100 million share repurchase program and a $0.05 per share dividend.
Smith & Wesson Brands, Inc. (NASDAQ: SWBI) will release its third quarter fiscal 2021 financial results on March 4, 2021, after the market close. A conference call to discuss these results will also take place on the same day at 5:00 PM ET, featuring its President and CEO Mark Smith and CFO Deana McPherson. Investors can access the call via phone or through the company's website. This announcement signals the company's ongoing commitment to transparency and engagement with shareholders.
Smith & Wesson Brands (NASDAQ: SWBI) will present at Lake Street Capital Markets Virtual Outdoor Day on January 21, 2021. CEO Mark Smith and CFO Deana McPherson will lead the session, which includes a Q&A with analysts. The event aims to connect publicly traded outdoor companies with institutional investors in an interactive format.
Lake Street Capital, founded in 2012, specializes in high-growth industries and provides investment banking services, including capital access and M&A advice. For more details, visit their website.
Smith & Wesson Brands (NASDAQ: SWBI) has authorized a stock repurchase plan of up to $50 million through December 14, 2021. The actual repurchases will vary based on factors like market conditions and trading volume. This decision aligns with the company's strategy to return excess capital to shareholders, building on their earlier announcement of a dividend. CEO Mark Smith emphasized the board's commitment to enhancing shareholder value.
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