PREVIEW: Smith & Wesson little changed ahead of report
05/09/2024 18:51
** Shares of Smith & Wesson Brands Inc SWBI.O were nearly flat
on Thur ahead of the firearm maker's qtrly report after the
bell, with analysts expecting a dip in rev
** SWBI up 5% YTD, trailing Nasdaq's .IXIC 14% increase
** In its fiscal fourth qtr ended in April, SWBI reported a
9.9% increase in rev to $159 mln, and CEO Mark Smith pointed to
traditionally slow summer season and expectations of "healthy
demand" in fiscal 2025
** Co is expected to report a 10.3% drop in rev $102.525
mln, per mean estimate of two analysts, per LSEG. Those two
analysts on avg expect a qtrly loss per share of 2 cents
** Gun manufacturers in the past have seen higher U.S.
consumer sales ahead presidential elections due to expectations
that potential gun control measure could restrict people's
future access to firearms
(Reporting by Noel Randewich)
((noel.randewich@tr.com;))