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Smith & Wesson Brands Q1 Results Miss Expectations; Shares Drop

By Yasin Ebrahim

Investing.com -- Smith&Wesson Brands reported Thursday quarterly results that missed analysts' estimates as demand for firearms normalized and bloated inventory levels weighed on sales.

Smith&Wesson Brands Inc (NASDAQ:SWBI) fell more than 10% in afterhours trading following the report.  

The company reported adjusted earnings per share of $0.11 in Q1 on revenue of $84.4 million, missing Wall Street estimates for $0.21 a share and $129.8 million, respectively, 

The weaker-than-expected results "reflected a return to a normal demand pattern at the retail counter for firearms combined with temporary headwinds from inventory corrections within the channel," the company said.

Looking ahead, the company said it continued to "expect strong profitability over the remainder of the year aided by our disciplined approach to cost control and promotional spending."

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.