Shares of firearms provider Smith & Wesson Brands (NASDAQ:SWBI) are up in double digits today after it posted an explosive set of first-quarter numbers. Revenue rose 35.4% year-over-year to $114.2 million, outperforming estimates by $14 million. EPS of $0.13 also shot past expectations by $0.04.
The company is witnessing strong customer demand with healthy shipments at distributor and retailer levels despite a seasonally slow period. These tailwinds are further expected to drive performance in the fall season.
Furthermore, the company has announced a quarterly dividend of $0.12 per share. The dividend is payable on October 5 to investors of record on September 21.
Yesterday, Craig-Hallum analyst Eric Stine assigned the stock a Hold rating without a price target. Shares of the company have gained nearly 20% for the year so far.
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