Smith & Wesson (NASDAQ:SWBI) earnings for the gun company’s fiscal fourth quarter of 2020 have SWBI stock dipping lower after the close on Thursday. This comes after reporting adjusted earnings per share of 57 cents on revenue of $233.64 million.
Let’s take a deeper dive into the most recent Smith & Wesson earnings report below.
- Adjusted per-share earnings are up 119.2% compared to 26 cents in the fiscal fourth quarter of 2019.
- Revenue for the quarter is sitting 32.9% higher than the $175.73 million reported during the same period of the year prior.
- Operating loss of $65.75 million is a negative switch year-over-year from an operating income of $15.29 million.
- The Smith & Wesson earnings report also has it bringing in a net loss of $66.14 million.
- That’s a decline compared to its net income of $9.83 million from the same time last year.
Mark Smith, co-president and co-CEO of Smith & Wesson, said this in the earnings report.
“Our results were favorably impacted by changes in the timing of our excise tax assessment, as well as strong consumer acceptance of our M&P9 Shield EZ pistol, an expansion of our award-winning line of self-defense pistols in fiscal 2020. In addition, our internal inventory levels allowed us to address the sudden increase in customer demand for our firearms in the quarter”
Smith & Wesson doesn’t discuss guidance in its current earnings report. The company will be holding a conference call at 5:00 p.m. Eastern Time to go over the results. The call will be available via calling in or from the company’s website.
SWBI stock was down 2.1% after-hours Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
