Smith & Wesson Brands Inc SWBI is trading lower Thursday after the company announced worse-than-expected first-quarter fiscal 2022 revenue results.
Smith & Wesson reported adjusted earnings of $1.57 per share, which beat the estimate of $1.26 per share. The company reported quarterly revenue of $274.6 million, which came in below the estimate of $278.59 million.
"We believe we are well positioned for the ever-changing market conditions in our industry, to maintain our leadership position in the industry, and continue delivering impressive profitability in any environment," said Mark Smith, president and CEO of Smith & Wesson.
Smith & Wesson Brands is a U.S.-based firearm company that manufactures handguns, long guns, sporting rifles, shooting gear and suppressor products.
SWBI Price Action: Smith & Wesson Brands has traded as high as $39.60 and as low as $14.50 over a 52-week period.
The stock was down 12.10% at $21.88 at time of publication.
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