Gunmaker Smith & Wesson down despite Q4 beat

Smith & Wesson Brands

21/06/2024 13:35

** Shares of Smith & Wesson Brands  SWBI.O  down 4.3%
premarket to $15.70, over 3-mth low, even after firearms
manufacturer's Q4 results top expectations
    ** Maryville, Tenn-based firm late Thurs posted ~10% yr/yr
rev increase of $159.1 mln and adj EPS of 45 cents
    ** LSEG consensus had called for rev of $156.8 mln and
earnings of 34 cents/sh
    ** SWBI CEO Mark Smith said in statement despite highly
competitive environment in traditionally slower summer season,
co expects to continue growing on overall healthy demand in
fiscal 2025
    ** Lake Street Capital Markets, which rates SWBI "buy",
raised its PT by $2 to $18, pointing to continued momentum
    ** Co's strong firearm sales fueled by introduction of new
products, increased handguns volumes, and strong growth in long
gun sales, Lake Street says in note to clients
    ** Through Thurs, SWBI's stock up 21% YTD and up 40% over
the past 12 months

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))