Motley Fool

Why Smith & Wesson Stock Crashed Today

Shares of gunsmith Smith & Wesson Brands (NASDAQ: SWBI) swooned 11.7% as of 1:40 p.m. EDT Thursday, despite beating earnings projections in last night’s fiscal first-quarter report. Instead of the $1.29 per share Wall Street analysts had forecast, Smith & Wesson earned $1.57. Smith & Wesson also reported “record Q1 net sales” for the quarter, up 19.5% year over year to $274.6 million, which in combination with a monster 710 basis point increase in gross profit margin on those sales resulted in the huge net profit on the bottom line.

LEAVE A REPLY

Please enter your comment!
Please enter your name here