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Jan 31, 2023
Smith & Wesson Q3 2023 Earnings Report
Reported a decrease in net sales compared to the previous year, but an increase compared to pre-pandemic levels, with gross margin and EPS exceeding pre-pandemic levels.
Key Takeaways
Smith & Wesson Brands, Inc. reported Q3 fiscal year 2023 financial results, with net sales of $129.0 million and EPS of $0.24 per share. The company's top-line increased sequentially and exceeded the comparable pre-pandemic quarter in fiscal 2020. Gross margin was 32.4%, and non-GAAP Adjusted EBITDAS was $23.7 million, or 18.4% of net sales.
Net sales were $129.0 million, a decrease of 27.4% from the comparable quarter last year, but 1.3% higher than the comparable quarter in fiscal 2020.
Gross margin was 32.4% compared with 39.6% in the comparable quarter last year and 28.0% in the comparable quarter in fiscal 2020.
GAAP net income was $11.1 million, or $0.24 per diluted share, compared with $30.5 million, or $0.65 per diluted share, for the comparable quarter last year.
Non-GAAP Adjusted EBITDAS was $23.7 million, or 18.4% of net sales, compared with $51.9 million, or 29.2% of net sales, for the comparable quarter last year.
Forward Guidance
The company anticipates continued focus on long-term profitability, market share performance, and capital returns to stockholders.
Positive Outlook
- The firearm market remains healthy.
- Strong participation growth in recent years.
- Large and loyal base of core consumers.
- Compelling view of the future for a leading brand.
- Focus on managing the business for long-term profitability.
Challenges Ahead
- Economic factors.
- Social factors.
- Political factors.
- Legislative factors.
- Regulatory factors.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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