Smith & Wesson Q2 net sales plunge 47.5% to $121M; EPS $0.21 vs $1.05 YoY

SMITH & WESSON BRANDS, INC.

2022-Q2 EPS reported $0.28 revenue$205,429,000

Net sales $121.0M, down 47.5% YoY; GAAP EPS $0.21 vs $1.05 YoY.
Gross margin 32.4% vs 44.3% YoY; non-GAAP gross margin 33.9% excl. relocation costs.
Non-GAAP Adjusted EBITDAS $25.6M (21.1% of sales) vs $80.4M (34.9%) YoY.
Board authorized $0.10/share quarterly dividend, payable Jan 3, 2023 to holders of record Dec 20.
CEO cites demand normalization, inventory correction, and consumer slowdown due to inflation and rising rates.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SMITH & WESSON BRANDS, INC. reported second quarter fiscal 2023 ended October 31, 2022 results: revenue $121.0 million, net income $9.6 million, EPS $0.21 per diluted share.

Period: second quarter fiscal 2023 ended October 31, 2022
Revenue: $121.0 million
Net income: $9.6 million
EPS: $0.21 per diluted share
Result: reported results

Exact text from the filing

• Net sales were $121.0 million, a decrease of $109.4 million, or 47.5%, from the comparable quarter last year, but $7.3 million, or 6.4%, higher than the comparable quarter in fiscal 2020, which was the last pre-pandemic comparable second quarter. • Gross margin was 32.4% compared with 44.3% in the comparable quarter last year and 28.4% in the comparable quarter in fiscal 2020. Excluding relocation costs, gross margin would have been 33.9%. • GAAP net income was $9.6 million, or $0.21 per diluted share, compared with $50.9 million, or $1.05 per diluted share, for the comparable quarter last year, and $343,000, or $0.01 per diluted share, for the comparable quarter in fiscal 2020.

View on SEC.gov

Browse all earnings releases →

SMITH & WESSON BRANDS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-22-299380

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.