Smith & Wesson Brands (SWBI) Tops Q1 EPS by 28c
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Smith & Wesson Brands (NASDAQ: SWBI) reported Q1 EPS of $1.57, $0.28 better than the analyst estimate of $1.29. Revenue for the quarter came in at $274.6 million versus the consensus estimate of $278.59 million.
Mark Smith, President and Chief Executive Officer, commented, "Our flexible manufacturing model and strong consumer preference for our products at the retail counter combined to deliver the highest first quarter net revenue in the company\'s history, marking the fifth consecutive quarter of top line records. Even more remarkable, our team has been able to deliver nearly 170% two-year compounded growth, significantly outpacing the competition, while simultaneously lowering operating costs over this same timeframe. This is a direct result of significant strides the team has made in executing our strategy to streamline business operations and increase flexibility, and has driven an incredible EBITDAS margin of nearly 40% in the quarter. But more importantly, we believe we are well positioned for the ever-changing market conditions in our industry, to maintain our leadership position in the industry, and continue delivering impressive profitability in any environment."
Smith continued, "We are also thrilled to introduce our new M&P12 shotgun, which marks our entry into a brand-new category for the iconic Smith & Wesson brand, and presents a significant opportunity to continue capitalizing on the momentum we\'ve built over the past year with the consumer. Within the first 24 hours of the announcement, we had tallied over 3 million consumer impressions and 300,000 engagements on social media, already making this one of our most widely viewed and most successful launches to date. We are excited to continue innovating in this category and look forward to its growth potential."
For earnings history and earnings-related data on Smith & Wesson Brands (SWBI) click here.
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