Smith & Wesson Brands Inc. (SWBI) shares declined 4.14% in after-hours on Wednesday, September 1, 2021, and closed at $23.85. However, in the regular trading session of Wednesday, SWBI’s stock gained 3.11%. SWBI shares have risen 17.86% over the last 12 months, and they have moved up 1.26% in the past week. Over the past three months, the stock has gained 13.25%, while over the past six months, it has shed 57.57%.
Let’s see what are the latest news about the company?
SWBI latest announcement
On September 1, 2021, Smith & Wesson Brands, Inc (SWBI) announced financial results for the first quarter of fiscal 2022, which ended July 31, 2021.
Q1 2022 financial highlights
- Net sales were $274.6 million in Q1 2022 compared to $229.9 million in Q1 2021.
- Gross profit was $130.0 million in Q1 2022 compared to $92.4 million in Q1 2021.
- Total operating expenses were $30.05 million in Q1 2022 compared to $33.68 million in Q2 2021.
- In Q1 2022, the gross margin was 47.3% compared to a gross margin of 40.2% in Q2 21.
- SWBI reported a net income of $76.9 million, or $1.57per diluted share in Q1 2022, compared with $43.3 million, or $0.77 per diluted share in Q1 2021.
- Non-GAAP Adjusted EBITDA was $109.6 million in Q1 2022 compared to72.5 million in Q1 2021.
SWBI Q4 & FY 21 financial results announcement
On June 17, 2021, Smith & Wesson Brands, Inc (SWBI) announced financial results for the fourth quarter and full fiscal year 2021, which ended April 30, 2021.
Q4 2021 financial highlights
- Net sales were $322.9 million in Q4 2021 compared to $193.0 million in Q4 2020.
- Gross profit was $145.8 million in Q1 2022 compared to $62.14 million in Q1 2021.
- In Q4 2021, the gross margin was 45.1% compared to a gross margin of 32.2% in Q4 2020.
- Total operating expenses were $29.7 million in Q4 2021 compared to $31.13 million in Q4 2020.
- SWBI reported a net income of $892.9 million, or $1.70per diluted share in Q4 2021, compared with $20.9 million, or $0.38 per diluted share in Q4 2020.
- Non-GAAP Adjusted EBITDA was $125.6 million in Q4 2021 compared to51.6 million in Q4 2020.
FY 2021 financial highlights
- SWBI reported net sales of $1.1 billion in FY 2021 compared with $529.6 million for FY 2020.
- In FY 21, the gross margin was 42.4% compared to31.3% for FY 2020.
- Total operating expenses were $129.35 million in FY 21 compared to $115.4 million in FY 2020.
- It earned GAAP net income of $243.6 million, or $4.40 per diluted share in FY 21, compared with GAAP net income of $27.7 million, or $0.50 per diluted share, for the prior year.
- Non-GAAP Adjusted EBITDAS was $366.6 million in FY 21, compared with $92.7 million in FY 2020.
Conclusion
SWBI stock price went down in the after-hours after the company announced its Q1 21 financial results which did not fulfil the analyst’s expectations and it can further decline in the coming trading sessions.
