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Shares of Smith & Wesson Brands Inc. after the gun maker reported a drop in demand for its fiscal first quarter.
Smith & Wesson Brands, Inc. (NASDAQ:SWBI ) Q1 2023 Earnings Conference Call September 8, 2022 5:00 PM ET Company Participants Kevin Maxwell - General Counsel Mark Smith - President & CEO Deana McPherson - CFO Conference Call Participants Mark Smith - Lake Street Capital Markets Steve Dyer - Craig-Hallum Capital Group Operator Thank you for standing by, and welcome to the First Quarter 2023 Smith & Wesson Brands Earnings Conference Call. [Operator Instructions] As a reminder, today's program may be recorded.
Shares of Smith & Wesson slumped about 5% in extended trade on Thursday after the gunmaker posted quarterly results that underscored a drop in consumer demand following a surge two years ago.
Smith & Wesson Brands Inc. reported its lowest quarterly sales total in more than 13 years Thursday, sending shares down more than 10% in after-hours trading.
Smith & Wesson shares have struggled notably in 2022, down nearly 25% and extensively underperforming the S&P 500.
SPRINGFIELD, Mass., Aug. 25, 2022 /PRNewswire/ -- Smith & Wesson Brands, Inc. (NASDAQ Global Select: SWBI), a U.S.-based leader in firearm manufacturing and design, today announced it plans to release its first quarter fiscal 2023 financial results on Thursday, September 8, 2022, after the close of the market.
Smith & Wesson's CEO said the company isn't to blame for rising violence, just two weeks after getting subpoenaed by the US House Oversight Committee.
The House Committee on Oversight and Government Reform is investigating five gun manufacturers in light of a chain of recent mass shootings in the US.
SWBI is a deeply cyclical company and any view on it should first assess the stage of that cycle. I intend to explain how this cycle works and show that right now, SWBI is close to the bottom of it.