Smith & Wesson Q2 2021 Earnings Report

Smith & Wesson reported record quarterly revenue and increased profitability due to high demand and efficient operations.

Key Takeaways

Smith & Wesson Brands, Inc. announced record-breaking financial results for the second quarter of fiscal year 2021. The company reported a significant increase in net sales, gross margin, and GAAP income compared to the same quarter last year. They generated $49.1 million in net income and ended the quarter with $55.5 million of cash on hand and zero bank debt.

Net sales increased by 118.7% compared to the comparable quarter last year, reaching $248.7 million.

Gross margin improved to 40.6% compared to 28.4% for the comparable quarter last year.

GAAP income was $49.1 million, or $0.87 per diluted share, compared to $343,000, or $0.01 per diluted share, for the comparable quarter last year.

Non-GAAP Adjusted EBITDAS was $78.9 million, or 31.7% of net sales, compared with $13.4 million, or 11.8% of net sales, for the comparable quarter last year.