Why Smith & Wesson Shares Are Diving Today

Smith & Wesson Brands Inc SWBI is trading lower Friday after the company announced worse-than-expected fiscal second-quarter 2022 financial results. 

Smith & Wesson reported quarterly earnings of $1.13 per share, which came in below the estimate of $1.32 per share. The company reported quarterly revenue of $240.48 million, which came in below the estimate of $267.56 million, representing a decrease of 7.3% year-over-year.

"Throughout the past 18 months of unprecedented demand levels for our industry, our focus has continued to be on the long term – and our team has been hard at work positioning Smith & Wesson for continued impressive operating results and maintaining our market leadership regardless of market conditions," said Mark Smith, president and CEO of Smith & Wesson.

Smith continued, "During our second quarter, as demand levels eased from historical highs experienced during the height of the pandemic, the results of those efforts and our flexible model were evident."

Related Link: Smith & Wesson Brands: Q2 Earnings Insights

Smith & Wesson is a U.S.-based leader in firearm manufacturing.

SWBI Price Action: Smith & Wesson has traded as high as $39.60 and as low as $14.50 over a 52-week period.

The stock was down 26.30% at $16.88 at time of publication.

Photo: MasterTux from Pixabay.