Smith & Wesson Q1 2021 Earnings Report
Key Takeaways
Smith & Wesson Brands, Inc. reported record-breaking first quarter financial results with net sales of $278.0 million, a 124.8% increase compared to the first quarter last year. The company also initiated a regular, quarterly cash dividend of $0.05 per share.
Quarterly net sales were $278.0 million, up 124.8% year-over-year.
Firearms segment gross sales were $229.9 million, a 140.9% increase year-over-year.
Gross margin for the quarter was 42.0% compared to 38.7% last year.
Quarterly GAAP net income was $48.4 million, or $0.86 per diluted share.
Smith & Wesson
Smith & Wesson
Forward Guidance
The company has returned to its heritage as a pure-play firearms company, with a focus on organic growth and returning excess capital to its stockholders. The Board of Directors has authorized the company to declare a regular, quarterly cash dividend of $0.05 per share.