After a near-two-year bull market, we may be nearing the end. The Federal Reserve is still whistling past the graveyard of a recession, hoping to bring the economy in for a soft landing. So although the stock market might not crash, there is a good chance we see a decent pullback. After reaching a new all-time high two weeks ago, the S&P 500 is down 4%. While investors are crossing their fingers we don't have a correction, it is always prudent to plan for the worst and hope for the best. That suggests it is ...

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) Q4 2024 Earnings Conference Call June 21, 2024 5:00 PM ET Company Participants Kevin Maxwell - General Counsel Mark Smith - President & Chief Executive Officer Deana McPherson - Chief Financial Officer Conference Call Participants Mark Smith - Lake Street Capital Matthew Raab - Craig-Hallum Operator Good day, everyone, and welcome to Smith & Wesson Brands, Inc. Fourth Quarter and Full Fiscal 2024 Financial Results Conference Call. This call is being recorded. At thi ...

Financial Performance - Net sales for fiscal 2024 reached $535.8 million, an increase of $56.6 million, or 11.8%, compared to fiscal 2023[222]. - Gross profit increased by $3.6 million, or 2.3%, but gross margin decreased by 2.7% due to unfavorable fixed-cost absorption and inflation impacts[222][228]. - Net income for fiscal 2024 was $39.6 million, or $0.86 per diluted share, compared to $36.9 million, or $0.80 per diluted share, in the prior year[222]. - Operating income decreased by $3.6 million, or 7.5%, primarily due to an accrued legal settlement and increased promotional spending[231]. - Other income surged to $6.7 million, a significant increase of 4360.3%, mainly from the sale of intangible assets[232]. - Interest expense rose by $1.7 million, or 521.2%, due to higher average outstanding debt balances[233]. - The effective tax rate decreased to 19.8% from 23.5% in the prior year, influenced by a favorable adjustment related to foreign derived income deductions[234]. - Net income for fiscal year 2024 was $39.6 million, an increase of $2.7 million or 7.4% from 2023[235]. - Basic and diluted net income per share increased to $0.86, up 7.5% from $0.80 in the previous year[235]. Cash Flow and Investments - Cash provided by operating activities was $106.7 million, a significant increase of $90.0 million or 537.9% compared to fiscal 2023[236][238]. - Cash used in investing activities decreased by $8.3 million to $(81.5) million, primarily due to $6.5 million received from the sale of intangible assets[236][239]. - Cash used in financing activities was $(18.0) million, compared to cash provided of $5.9 million in fiscal 2023, mainly due to $22.0 million in dividend distributions[236][240]. - The company expects to spend between $25.0 million and $30.0 million on capital expenditures in fiscal 2025[239]. Capital Expenditures and Projects - The company incurred capital expenditures of approximately $157.0 million related to the relocation project, with total expected costs between $160.0 million and $170.0 million[222]. Sales Performance - Sales of handguns increased by $21.2 million, or 5.9%, while long guns saw a significant increase of $42.3 million, or 56.9%[224][226]. - New products accounted for 27.6% of net sales for the 12 months ended April 30, 2024, including one new pistol and three new long guns[227]. Debt and Credit Facilities - As of April 30, 2024, the company had $40.0 million in borrowings outstanding on its revolving line of credit, with an average interest rate of 7.18%[244]. - The company maintains compliance with all debt covenants as of April 30, 2024[244]. - The company has a $100.0 million revolving line of credit with variable interest rates based on the Base Rate or SOFR rate plus an applicable margin[268]. - The company amended its credit agreement on April 28, 2023, replacing LIBOR with SOFR as the interest rate benchmark[268]. - The amendment also changed the definition of "Consolidated Fixed Charge Coverage Ratio" to exclude unfinanced capital expenditures related to the Relocation[268]. Shareholder Actions - The company authorized a share repurchase program of $50.0 million, purchasing 793,551 shares for $10.2 million during fiscal 2024[245]. Economic and Operational Challenges - Inflationary pressures have increased costs for components and labor, expected to continue impacting operations in fiscal 2025[249].

• Net sales were $535.8 million, an increase of $56.6 million, or 11.8%, over the prior fiscal year. • Gross margin was 29.5% compared with 32.2% in the prior fiscal year. • GAAP net income was $39.6 million, or $0.86 per diluted share, compared with $36.9 million, or $0.80 per diluted share, for the prior fiscal year. • Non-GAAP net income was $42.6 million, or $0.92 per diluted share, compared with $43.3 million, or $0.94 per diluted share, for the prior fiscal year. GAAP to non-GAAP adjustments for incom ...

Contact: investorrelations@smith-wesson.com (413) 747-3448 SMITH & WESSON BRANDS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS | --- | --- | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------|------------------------------------------------| | ASSETS | As of: April 30, 2024 and share data) | April 30, 2023 (In thousands, except par value | ...

Loading... Loading... Smith & Wesson Brands, Inc. SWBI will release earnings results for its fourth quarter, after the closing bell on Thursday. Analysts expect the Springfield, Massachusetts-based firearm company to report quarterly earnings at 34 cents per share, up from 28 cents per share in the year-ago period. Smith & Wesson Brands expects to post revenue of $156.8 million for the quarter, compared to $144.78 million in the year-earlier quarter, according to data from Benzinga Pro. On March 7, Smith & ...

Interested parties in North America are invited to participate by dialing 1-877-704-4453. Interested parties from outside North America are invited to participate by dialing 1-201-389-0920. Participants should dial in at least 10 minutes prior to the start of the call. A live and archived webcast of the event will be available on the company's website at www.smith-wesson.com under the Investor Relations section. Maryville, Tennessee--(Newsfile Corp. - June 6, 2024) - Smith & Wesson Brands, Inc. (NASDAQ: SWB ...

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) Q3 2024 Earnings Conference Call March 7, 2024 5:00 PM ET Company Participants Kevin Maxwell - General Counsel Mark Smith - President and CEO Deana McPherson - CFO Conference Call Participants Steve Dyer - Craig-Hallum Operator Good day, everyone, and welcome to Smith & Wesson Brands, Inc. Third Quarter Fiscal 2024 Financial Results Conference Call. [Operator Instructions] This call is being recorded. At this time, I would turn the call over to Kevin Maxwell, Smith ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2024 Commission File No. 001-31552 Smith & Wesson Brands, Inc. (Exact name of registrant as specified in its charter) Nevada 87-0543688 (State or other jurisdiction of incorporation or organization) 2100 Ro ...

Financial Performance - Q3 net sales reached $137.5 million, an increase of $8.4 million or 6.5% compared to the same quarter last year[5] - Q3 gross margin was 28.7%, down from 32.4% in the comparable quarter last year[5] - GAAP net income for Q3 was $7.9 million, or $0.17 per diluted share, compared to $11.1 million, or $0.24 per diluted share, in the same quarter last year[5] - Non-GAAP net income for Q3 was $8.7 million, or $0.19 per diluted share, compared to $11.6 million, or $0.25 per diluted share, in the same quarter last year[5] - For the nine months ended January 31, 2024, net income decreased to $13,499,000 from $24,039,000 in the same period last year, representing a decline of 43.5%[16] - Non-GAAP net income for the nine months ended January 31, 2024, was $21,309,000, down from $28,627,000 in the same period last year, a decrease of 25.7%[17] - GAAP operating income for the nine months ended January 31, 2024, was $19,400,000, down from $30,579,000 in the same period last year, a decrease of 36.3%[17] - Non-GAAP Adjusted EBITDAS for the nine months ended January 31, 2024, was $58,327,000, down from $66,372,000 in the same period last year, a decrease of 12.1%[18] Cash Flow and Assets - Cash generated by operations was $25.4 million, an increase of $18.5 million from the previous year, primarily due to a $9.8 million decline in inventory[4] - The company reported a net cash provided by operating activities of $63,123,000 for the nine months ended January 31, 2024, compared to a net cash used of $(21,248,000) in the prior year[19] - Free cash flow for the nine months ended January 31, 2024, was $(22,065,000), a significant decline from $(86,000) in the same period last year[19] - Cash and cash equivalents at the end of the period were $47,367,000, compared to $44,596,000 at the end of the previous year[16] - The company reported a net decrease in cash and cash equivalents of $(6,189,000) for the nine months ended January 31, 2024, compared to $(76,132,000) in the prior year[16] - The company incurred $85,188,000 in payments to acquire property and equipment for the nine months ended January 31, 2024, an increase from $64,586,000 in the prior year[16] Shareholder Returns - The company repurchased nearly 71,000 shares during Q3, utilizing $916,000 of its $50 million authorization[4] - The board of directors authorized a quarterly dividend of $0.12 per share, payable on April 4, 2024[4] Market Outlook - The company expects healthy demand in the firearm market through the 2024 election cycle, supported by a deep pipeline of new products[9] Balance Sheet - Total assets as of January 31, 2024, were $570.6 million, an increase from $541.3 million as of April 30, 2023[12] - Total liabilities increased to $194.1 million as of January 31, 2024, compared to $156.7 million as of April 30, 2023[12] Gross Profit - GAAP gross profit for the three months ended January 31, 2024, was $39,424,000, accounting for 28.7% of sales, compared to $41,841,000 or 32.4% of sales in the prior year[17]