Smith & Wesson Brands falls on downbeat Q2 profit

Skillsoft

06/12/2022 22:38

** Shares of gunmaker Smith & Wesson Brands Inc  SWBI.O 
down 7.4% at $10.93 in extended trading
    ** Co reports fiscal Q2 adj. earnings of $0.26/shr vs
average analyst estimate of $0.40/shr - Refinitiv 
    ** SWBI Q2 net sales drop 47.5% to $121 mln
    ** "An ongoing inventory correction, combined with the
impact of promotional activity by our competitors and the
trading down by consumers to lower-priced products, negatively
affected our quarterly sales" - CFO Deana McPherson 
    ** Up to last close, stock is down 33.7% YTD
 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))