Financial Data and Key Metrics Changes - The company reported net sales of $125 million for the second quarter, which is $3.9 million or 3.2% above the prior-year comparable quarter [32] - Gross margin was 25.4%, negatively impacted by a $3.2 million legal settlement accrual; excluding this charge, gross margin would have been 28% [8] - Cash used in operations was $2.9 million, reflecting a $32.4 million improvement compared to the previous year [33] - The company expects margins to rebound into the low-30% range in the fourth quarter due to increased production [22] Business Line Data and Key Metrics Changes - New products accounted for 29% of overall revenue in the quarter, with strong performance from recently introduced products [7][28] - ASPs remained strong, slightly up compared to last year but down mid-single-digits sequentially [16] - The company anticipates a 5% drop in ASPs due to increased promotions and a shift in product mix [34] Market Data and Key Metrics Changes - Distributor inventories decreased slightly by about 4,000 units during the quarter, indicating strong sell-through [27] - The overall market has rebounded from the summer slowdown, following normal seasonal demand patterns [29] - NICS data showed an increase in demand, particularly in October and November, suggesting a sustainable growth trend [38] Company Strategy and Development Direction - The company is focused on maximizing stockholder value through a balanced approach, including stock buybacks and dividends [18] - The relocation to Tennessee is progressing as planned, with initial shipments commencing in August and manufacturing activity ramping up [53] - The company aims to maintain a healthy balance between new product introductions and core products to offset promotional pressures [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of demand, particularly with the upcoming election year expected to elevate firearms industry demand [60] - The company anticipates continued promotional activity but does not foresee a return to heavy promotions seen in previous years [59] - Management expects to be debt-free by the end of the next fiscal year, with a strong cash position anticipated [57] Other Important Information - The company repurchased nearly 646,000 shares at an average price of $12.70 during the quarter, utilizing $8.2 million of the authorized buyback program [21] - Operating expenses for the second quarter were $28 million, primarily due to one-time costs associated with the grand opening of the new facility [55] Q&A Session Summary Question: Insights on the promotional environment and ASP outlook - Management noted that while promotional activity has increased, it is not expected to escalate to previous high levels, maintaining a balanced approach [59] Question: Demand environment and NICS data - Management confirmed that demand has picked up since October, with NICS data remaining steady, indicating a positive outlook [38] Question: Pipeline for new products and SHOT Show - Management indicated confidence in the new product pipeline, with significant launches planned for the upcoming SHOT Show [40] Question: Capital allocation and share repurchases - Management stated that while share repurchases are being considered, the focus remains on maintaining a healthy balance sheet and being cautious with capital allocation [64] Question: Sustainability of gross margin targets - Management confirmed that the anticipated gross margin in Q4 is sustainable, despite some headwinds [75]

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 October 31, 2023 Commission File No. 001-31552 Smith & Wesson Brands, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 2100 Roosevelt Avenue Spr ...

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 July 31, 2023 Commission File No. 001-31552 Smith & Wesson Brands, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 2100 Roosevelt Avenue Spring ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2023 OR Form 10-K ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD Commission file number 1-31552 Smith & Wesson Brands, Inc. (Exact Name of Registrant as Specified in Its Charter) Nevada 87-0543688 (State or Other Jurisdiction of Incorporation or O ...

Financial Data and Key Metrics Changes - Revenue for the third quarter was $129 million, a 1% increase from the comparable period in fiscal 2020, but down 27.4% from the prior year [20][28] - Net income was $11.1 million, down from $30.5 million in the prior year, but $6.9 million higher than in fiscal 2020 due to higher average selling prices (ASPs) and lower interest expenses [45] - EBITDA increased by nearly 60%, with a gross margin improvement of 440 basis points, reflecting higher ASPs and lower operating costs [20][21] Business Line Data and Key Metrics Changes - New products accounted for 21% of sales during the third quarter, with recent launches performing exceptionally well [38] - Operating expenses were $27.7 million, $3 million lower than the prior year, primarily due to reduced relocation costs and lower sales-related expenses [30] Market Data and Key Metrics Changes - NICS data showed a 6.5% increase in January, marking the first quarterly increase in fiscal 2023, although year-over-year comparisons were flat [14] - The market has seen a bifurcation in demand, with core buyers becoming more price-conscious while others focus on innovation and quality [54] Company Strategy and Development Direction - The company is focused on innovation and new product introductions, with a healthy pipeline expected to continue into calendar 2024 [24] - The relocation to Tennessee is on track, with operational startup expected in the summer, which will enhance manufacturing flexibility and reduce costs [26][99] Management's Comments on Operating Environment and Future Outlook - Management noted that inflationary pressures are expected to continue impacting margins, but they anticipate revenue growth sequentially from Q3 to Q4 [43][49] - The company believes that the adjustment period from the surge in demand is largely over, with consumer demand returning to a more normal seasonal cadence [34] Other Important Information - The company authorized a quarterly dividend of $0.10 to be paid to stockholders [47] - Cash generated from operations was $6.9 million, with capital spending for the fiscal year expected to be between $115 million and $120 million [46][58] Q&A Session Summary Question: Insights on new product sales and potential for increase - Management confirmed that new products are performing well and the pipeline is healthy, with expectations to maintain current sales percentages [66][67] Question: ASP and long guns performance - ASPs decreased due to targeted rebates aimed at reducing channel inventory, with expectations for modest declines in the next quarter [75][80] Question: Inventory levels in the channel - Inventory levels have stabilized, with a slight decline from Q2 to Q3, indicating that distributors feel comfortable with their inventory [81][83] Question: Flexible manufacturing and macroeconomic factors - The move to Tennessee will enhance manufacturing flexibility, allowing for better inventory management and cost reduction despite ongoing inflationary pressures [96][99]

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, 2023 Commission File No. 001-31552 Smith & Wesson Brands, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 2100 Roosevelt Avenue Spr ...

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) Q2 2023 Results Conference Call December 6, 2022 5:00 PM ET Company Participants Kevin Maxwell - General Counsel Mark Smith - President & CEO Deana McPherson - CFO Conference Call Participants Mark Smith - Lake Street Rommel Dionisio - Aegis Operator Good day, everyone, and welcome to Smith & Wesson Brands, Inc. Second Quarter Fiscal 2023 Financial Results Conference Call. This call is being recorded. At this time, I would like to turn the call over to Kevin Maxwell ...

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) Q1 2023 Earnings Conference Call September 8, 2022 5:00 PM ET Company Participants Kevin Maxwell - General Counsel Mark Smith - President & CEO Deana McPherson - CFO Conference Call Participants Mark Smith - Lake Street Capital Markets Steve Dyer - Craig-Hallum Capital Group Operator Thank you for standing by, and welcome to the First Quarter 2023 Smith & Wesson Brands Earnings Conference Call. [Operator Instructions] As a reminder, today's program may be recorded. ...

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 July 31, 2022 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 Roosevelt Avenue Springfield, Massachusetts 01104 (Add ...

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) Q4 2022 Earnings Conference Call June 23, 2022 5:00 PM ET Company Participants Kevin Maxwell - General Counsel Mark Smith - President & CEO Deana McPherson - CFO Conference Call Participants Mark Smith - Lake Street Capital Operator Good day, everyone, and welcome to Smith & Wesson Brands, Inc. Fourth Quarter and Full Fiscal 2022 Financial Results Conference Call. This call is being recorded. At this time, I would like to turn the call over to Kevin Maxwell, Smith & ...