On Tuesday, gun-maker Smith & Wesson (SWHC) reported strong third-quarter results and issued better-than-expected earnings guidance for current fiscal quarter. The news sent SWHC stock surging more than 14% in Wednesday morning trading.
SWHC stock climbed after Smith & Wesson posted EPS of 36 cents for the third quarter. That topped the earnings of 29 cents per share that Wall Street was looking for. Revenue during the quarter came in at $145.9 million. That also beat analysts, who had forecast revenue of $142.5 million, the Associated Press notes.
For the fourth-fiscal quarter, SWHC predicted earnings from continuing operations of between 37 cents and 40 cents per SWHC share. That surprised analysts who were expecting earnings from continuing operations of about 35 cents per SWHC share.
SWHC also estimated fourth-quarter revenue of between $159 million and $164 million; most of the range falls well above the $164.8 million that analysts anticipate.
On Tuesday, SWHC stock closed at $11.80 per share. SWHC stock has gained about 15% over the past year.