Smith & Wesson Brands (NASDAQ: SWBI) was up in pre-market trading at the time of publishing on Friday after the firearms manufacturer announced Q4 adjusted earnings of $0.32 per share as compared to $0.82 per diluted share in the same period last year and surpassing consensus estimates of $0.29 per share.
The company posted Q4 net sales of $144.8 million, a decline of 20.1% year-over-year but exceeding Street estimates of $138.4 million.
Deana McPherson, EVP and CFO of Smith & Wesson Brands commented, “For fiscal 2024, we expect consumer demand to resemble demand in fiscal 2023; however, we anticipate an increase in our shipments given the significant decline in inventory in the distribution channel that we experienced during the first half of last fiscal year.”
McPherson added that the company’s Board of Directors had authorized a quarterly dividend of $0.12 per share, which will be paid to shareholders of record on July 13 with payment to be made on July 27, 2023.
Over the past year, SWBI stock has not fared well and has declined by more than 15%.
