Smith & Wesson Brands reports Q2 non-GAAP EPS 26c, consensus 40c

Reports Q2 revenue $121.0M, consensus $145.41M. Mark Smith, President and CEO, commented, "With firearm demand continuing to normalize, our second quarter results once again demonstrated the significant progress we’ve made over the past several years in creating a highly adaptive and robust business model that consistently delivers strong profitability, regardless of market conditions. Consumer demand for firearms was significantly down from a year earlier, coinciding with a broader consumer slowdown driven by persistently high inflation, the beginning of the winter heating season across the northern half of the country, and rising interest rates. Nonetheless, compared to the Q2 of FY20, our current quarter results reflected a significant increase in profitability. While FY23 continues to be a year of recalibration and adjustment for our industry and Smith & Wesson, we expect to remain highly profitable and continue delivering on our commitments to customers, employees, and stockholders well into the future."