Smith & Wesson Brands Sees Drop in 1Q Sales, Weighed Down by Handguns -- Market Talk

Dow Jones06-21

1855 ET - Smith & Wesson Brands expects to deal with a 10% drop in dollar and unit sales in its fiscal 1Q, finance chief Deana McPherson says on a call with analysts. The firearms manufacturer's expectations are mainly driven by lower sales of handguns despite the increases seen in higher long guns sales. The company should see a rebound in sales as it approaches the general election, McPherson adds. Overall, normal seasonal increases into the second half of the fiscal year should help the company boost its results. Smith & Wesson sees full-year revenue up mid to high single digits over fiscal 2024. Shares fall 1.3% to $16.19 in after-hours trading. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

June 20, 2024 18:55 ET (22:55 GMT)

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Overall, normal seasonal increases into the second half of the fiscal year should help the company boost its results. Smith &amp; Wesson sees full-year revenue up mid to high single digits over fiscal 2024. Shares fall 1.3% to $16.19 in after-hours trading. 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The firearms manufacturer's expectations are mainly driven by lower sales of handguns despite the increases seen in higher long guns sales. The company should see a rebound in sales as it approaches the general election, McPherson adds. Overall, normal seasonal increases into the second half of the fiscal year should help the company boost its results. Smith & Wesson sees full-year revenue up mid to high single digits over fiscal 2024. Shares fall 1.3% to $16.19 in after-hours trading. 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