false 0001092796 0001092796 2024-03-07 2024-03-07

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 7, 2024

 

 

Smith & Wesson Brands, Inc.

(Exact Name of Registrant as Specified in Charter)

 

 

 

Nevada   001-31552   87-0543688

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

2100 Roosevelt Avenue

Springfield, Massachusetts 01104

(Address of principal executive offices) (Zip Code)

(800) 331-0852

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange

on which registered

Common Stock, Par Value $0.001 per Share   SWBI   Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 §CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 


Item 2.02.

Results of Operations and Financial Condition.

We are furnishing the disclosure in this Item 2.02 in connection with the disclosure of information in the form of the textual information from a press release issued on March 7, 2024.

The information in this Item 2.02 (including Exhibit 99.1) is furnished pursuant to Item 2.02 and shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

We do not have, and expressly disclaim, any obligation to release publicly any updates or any changes in our expectations or any change in events, conditions, or circumstances on which any forward-looking statement is based.

The text included with this Current Report on Form 8-K is available on our website at www.smith-wesson.com, although we reserve the right to discontinue that availability at any time.

 

Item 9.01.

Financial Statements and Exhibits.

 

  (d)

Exhibits.

 

Exhibit
No.
    
99.1    Press release from Smith & Wesson Brands, Inc., dated March 7, 2024, entitled “Smith & Wesson Brands, Inc. Reports Third Quarter Fiscal 2024 Financial Results
104    Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    SMITH & WESSON BRANDS, INC.
Date: March 7, 2024     By:  

/s/ Deana L. McPherson

      Deana L. McPherson
      Executive Vice President, Chief Financial
Officer, Treasurer, and Assistant Secretary

Exhibit 99.1

 

LOGO

Smith & Wesson Brands, Inc. Reports

Third Quarter Fiscal 2024 Financial Results

 

   

Q3 Net Sales of $137.5 Million

 

   

Q3 Gross Margin of 28.7%; Non-GAAP Gross Margin of 29.1%

 

   

Q3 EPS of $0.17/Share; Q3 Adjusted EPS of $0.19/Share

 

   

Q3 Adjusted EBITDAS Margin of 15.6%

MARYVILLE, Tenn., March 7, 2024 – Smith & Wesson Brands, Inc. (NASDAQ Global Select: SWBI), a U.S.-based leader in firearm manufacturing and design, today announced financial results for the third quarter of fiscal 2024, ended January 31, 2024.

Financial Highlights

 

   

Net sales were $137.5 million, an increase of $8.4 million, or 6.5%, over the comparable quarter last year.

 

   

Gross margin was 28.7% compared with 32.4% in the comparable quarter last year.

 

   

GAAP net income was $7.9 million, or $0.17 per diluted share, compared with $11.1 million, or $0.24 per diluted share, for the comparable quarter last year.

 

   

Non-GAAP net income was $8.7 million, or $0.19 per diluted share, compared with $11.6 million, or $0.25 per diluted share, for the comparable quarter last year. GAAP to non-GAAP adjustments for income exclude costs related to the move of our headquarters and significant elements of our operations to a new facility in Maryville, Tennessee, or the Relocation, and other costs. For a detailed reconciliation, see the schedules that follow in this release.

 

   

Non-GAAP Adjusted EBITDAS was $21.4 million, or 15.6% of net sales, compared with $25.1 million, or 19.5% of net sales, for the comparable quarter last year.

Mark Smith, President and Chief Executive Officer, commented, “Our team delivered another strong quarter on both the top and bottom line. We believe we gained market share as our shipments outpaced the overall firearm market, reflecting the continuing robust demand for our best-in-class, innovative new products and sustained momentum in our core product portfolio. We continue to expect the firearm market to experience healthy demand through the 2024 election cycle. With our deep pipeline of new products, leading brand, new state-of-the-art facility in Tennessee, strong balance sheet, and most importantly, world-class dedicated employees, we are well positioned to continue delivering value for our stockholders.”

Deana McPherson, Executive Vice President and Chief Financial Officer, commented, “Net sales for our third quarter were 6.5% above the prior year comparable quarter. During the quarter, inventory in the distribution channel declined from October levels, in terms of actual units and weeks of inventory, indicating strong sell through of our products at retail. Cash generated by operations was $25.4 million, $18.5 million better than last year, primarily due to receivables remaining relatively flat to last quarter while inventory declined by $9.8 million. We repurchased nearly 71,000 shares during the third quarter, utilizing $916,000 of our $50 million authorization, and paid $5.5 million in dividends. Consistent with our capital allocation strategy, our board of directors has authorized a $0.12 per share quarterly dividend, which will be paid to stockholders of record on March 21, 2024 with payment to be made on April 4, 2024.”


Conference Call and Webcast

The company will host a conference call and webcast on March 7, 2024 to discuss its third quarter fiscal 2024 financial and operational results. Speakers on the conference call will include Mark Smith, President and Chief Executive Officer, and Deana McPherson, Executive Vice President and Chief Financial Officer. The conference call may include forward-looking statements. The conference call and webcast will begin at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). Interested parties in North America are invited to participate by dialing 1-877-704-4453. Interested parties from outside North America are invited to participate by dialing 1-201-389-0920. Participants should dial in at least 10 minutes prior to the start of the call. The conference call audio webcast can also be accessed live on the company’s website at www.smith-wesson.com, under the Investor Relations section.

Reconciliation of U.S. GAAP to Non-GAAP Financial Measures

In this press release, certain non-GAAP financial measures, including “non-GAAP net income,” “Adjusted EBITDAS,” and “free cash flow” are presented. From time-to-time, we consider and use these supplemental measures of operating performance in order to provide the reader with an improved understanding of underlying performance trends. We believe it is useful for us and the reader to review, as applicable, both (1) GAAP measures that include (i) interest expense, (ii) income tax expense, (iii) depreciation and amortization, (iv) stock-based compensation expense, (v) spin related stock-based compensation, (vi) an accrued legal settlement, (vii) Relocation expense, and (viii) the tax effect of non-GAAP adjustments; and (2) the non-GAAP measures that exclude such information. We present these non-GAAP measures because we consider them an important supplemental measure of our performance. Our definition of these adjusted financial measures may differ from similarly named measures used by others. We believe these measures facilitate operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain expense items that would not otherwise be apparent on a GAAP basis. These non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for our GAAP measures. The principal limitations of these measures are that they do not reflect our actual expenses and may thus have the effect of inflating its financial measures on a GAAP basis.

About Smith & Wesson Brands, Inc.

Smith & Wesson Brands, Inc. (NASDAQ Global Select: SWBI) is a U.S.-based leader in firearm manufacturing and design, delivering a broad portfolio of quality handgun, long gun, and suppressor products to the global consumer and professional markets under the iconic Smith & Wesson® and Gemtech® brands. The company also provides manufacturing services including forging, machining, and precision plastic injection molding services. For more information call (800) 331-0852 or visit www.smith-wesson.com.

Safe Harbor Statement

Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and we intend that such forward-looking statements be subject to the safe-harbor created thereby. Such forward-looking statements include, among others, that (i) we continue to expect the firearm market to experience healthy demand through the 2024 election cycle and (ii) with our deep pipeline of new products, leading brand, new state-of-the-art facility in Tennessee, strong balance sheet, and most importantly, world-class dedicated employees, we are well positioned to continue delivering value for our stockholders. We caution that these statements are qualified by important risks, uncertainties, and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include, among others, economic, social, political, legislative, and regulatory factors; the potential for increased regulation of firearms and firearm-related products; actions of social activists that could have an adverse effect on our business; the impact of lawsuits; the demand for our products; the state of the U.S. economy in general and the firearm industry in particular; general economic conditions and consumer spending patterns; our competitive environment; the supply, availability and costs of raw materials and components; our anticipated growth and growth opportunities; our strategies; our ability to maintain and enhance brand recognition and reputation; our ability to effectively manage and execute the Relocation; our ability to introduce new products; the success of new products; the potential for cancellation of orders from our backlog; and other risks detailed from time to time in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended April 30, 2023.

Contact:

investorrelations@smith-wesson.com

(413) 747-3448


SMITH & WESSON BRANDS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

 

     As of:  
     January 31, 2024     April 30, 2023  
     (In thousands, except par value and share data)  
ASSETS

 

Current assets:

    

Cash and cash equivalents

   $ 47,367     $ 53,556  

Accounts receivable, net of allowances for credit losses of $0 on January 31, 2024 and $23 on April 30, 2023

     60,647       55,153  

Inventories

     153,529       177,118  

Prepaid expenses and other current assets

     9,020       4,917  

Income tax receivable

     5,613       1,176  
  

 

 

   

 

 

 

Total current assets

     276,176       291,920  
  

 

 

   

 

 

 

Property, plant, and equipment, net

     256,830       210,330  

Intangibles, net

     2,670       3,588  

Goodwill

     19,024       19,024  

Deferred income taxes

     8,085       8,085  

Other assets

     7,781       8,347  
  

 

 

   

 

 

 

Total assets

   $ 570,566     $ 541,294  
  

 

 

   

 

 

 
LIABILITIES AND STOCKHOLDERS’ EQUITY

 

Current liabilities:

    

Accounts payable

   $ 36,141     $ 36,795  

Accrued expenses and deferred revenue

     24,333       20,149  

Accrued payroll and incentives

     19,897       18,565  

Accrued income taxes

     190       1,831  

Accrued profit sharing

     3,473       8,203  

Accrued warranty

     2,110       1,670  
  

 

 

   

 

 

 

Total current liabilities

     86,144       87,213  

Notes and loans payable, net of current portion

     64,858       24,790  

Finance lease payable, net of current portion

     35,809       36,961  

Other non-current liabilities

     7,324       7,707  
  

 

 

   

 

 

 

Total liabilities

     194,135       156,671  
  

 

 

   

 

 

 

Commitments and contingencies

    

Stockholders’ equity:

    

Preferred stock, $0.001 par value, 20,000,000 shares authorized, no shares issued or outstanding

     —        —   

Common stock, $0.001 par value, 100,000,000 shares authorized, 75,325,789 shares issued and 45,568,550 shares outstanding on January 31, 2024 and 75,029,300 shares issued and 45,988,930 shares outstanding on April 30, 2023

     75       75  

Additional paid-in capital

     287,827       283,666  

Retained earnings

     520,050       523,184  

Accumulated other comprehensive income

     73       73  

Treasury stock, at cost (29,757,239 shares on January 31, 2024 and 29,040,370 shares on April 30, 2023)

     (431,594     (422,375
  

 

 

   

 

 

 

Total stockholders’ equity

     376,431       384,623  
  

 

 

   

 

 

 

Total liabilities and stockholders’ equity

   $ 570,566     $ 541,294  
  

 

 

   

 

 

 


SMITH & WESSON BRANDS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

 

     For the Three Months Ended January 31,     For the Nine Months Ended January 31,  
     2024     2023     2024     2023  
     (In thousands, except per share data)  

Net sales

   $ 137,484     $ 129,036     $ 376,686     $ 334,465  

Cost of sales

     98,060       87,195       275,094       221,890  
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

     39,424       41,841       101,592       112,575  
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating expenses:

        

Research and development

     1,969       2,133       5,492       5,675  

Selling, marketing, and distribution

     10,108       9,996       31,101       27,454  

General and administrative

     16,065       15,576       45,599       48,867  
  

 

 

   

 

 

   

 

 

   

 

 

 

Total operating expenses

     28,142       27,705       82,192       81,996  
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     11,282       14,136       19,400       30,579  
  

 

 

   

 

 

   

 

 

   

 

 

 

Other income/(expense), net:

        

Other income(expense), net

     (11     840       176       2,304  

Interest (expense)/income, net

     (955     (508     (1,448     (1,361
  

 

 

   

 

 

   

 

 

   

 

 

 

Total other (expense)/income, net

     (966     332       (1,272     943  
  

 

 

   

 

 

   

 

 

   

 

 

 

Income from operations before income taxes

     10,316       14,468       18,128       31,522  

Income tax expense

     2,434       3,389       4,629       7,483  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income

   $ 7,882     $ 11,079     $ 13,499     $ 24,039  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income per share:

        

Basic - net income

   $ 0.17     $ 0.24     $ 0.29     $ 0.52  
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted - net income

   $ 0.17     $ 0.24     $ 0.29     $ 0.52  
  

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average number of common shares outstanding:

 

     

Basic

     45,618       45,897       45,901       45,817  

Diluted

     46,028       46,166       46,315       46,133  


SMITH & WESSON BRANDS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

 

     For the Nine Months Ended January 31,  
     2024     2023  
     (In thousands)  

Cash flows from operating activities:

    

Net income

   $ 13,499     $ 24,039  

Adjustments to reconcile net income to net cash provided by/(used in) operating activities:

    

Depreciation and amortization

     24,291       21,795  

Loss/(gain) on sale/disposition of assets

     785       (43

Provision for recoveries on notes and accounts receivable

     (23     (1

Stock-based compensation expense

     4,264       3,859  

Changes in operating assets and liabilities:

    

Accounts receivable

     (5,471     4,444  

Inventories

     23,589       (56,767

Prepaid expenses and other current assets

     (4,103     (384

Income taxes

     (6,079     (8,220

Accounts payable

     11,230       134  

Accrued payroll and incentives

     1,332       1,073  

Accrued profit sharing

     (4,730     (5,737

Accrued expenses and deferred revenue

     3,917       (4,078

Accrued warranty

     440       (156

Other assets

     565       1,158  

Other non-current liabilities

     (383     (2,364
  

 

 

   

 

 

 

Net cash provided by/(used in) operating activities

     63,123       (21,248
  

 

 

   

 

 

 

Cash flows from investing activities:

    

Payments to acquire patents and software

     (164     (251

Proceeds from sale of property and equipment

     2,877       85  

Payments to acquire property and equipment

     (85,188     (64,586
  

 

 

   

 

 

 

Net cash used in investing activities

     (82,475     (64,752
  

 

 

   

 

 

 

Cash flows from financing activities:

    

Proceeds from loans and notes payable

     50,000       25,000  

Payments on notes and loans payable

     (10,000     (231

Payments on finance lease obligation

     (1,049     (856

Payments to acquire treasury stock

     (9,128     —   

Dividend distribution

     (16,557     (13,744

Proceeds to acquire common stock from employee stock purchase plan

     722       753  

Payment of employee withholding tax related to restricted stock units

     (825     (1,054
  

 

 

   

 

 

 

Net cash provided by financing activities

     13,163       9,868  
  

 

 

   

 

 

 

Net decrease in cash and cash equivalents

     (6,189     (76,132

Cash and cash equivalents, beginning of period

     53,556       120,728  
  

 

 

   

 

 

 

Cash and cash equivalents, end of period

   $ 47,367     $ 44,596  
  

 

 

   

 

 

 

Supplemental disclosure of cash flow information

    

Cash paid for:

    

Interest, net of amounts capitalized

   $ 3,317     $ 1,743  

Income taxes

   $ 10,687     $ 15,775  


SMITH & WESSON BRANDS, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES

(Dollars in thousands, except per share data)

(Unaudited)

 

     For the Three Months Ended     For the Nine Months Ended  
     January 31, 2024     January 31, 2023     January 31, 2024     January 31, 2023  
     $     % of Sales     $     % of Sales     $     % of Sales     $     % of Sales  

GAAP gross profit

   $ 39,424       28.7   $ 41,841       32.4   $ 101,592       27.0   $ 112,575       33.7

Relocation expenses

     642       0.5     305       0.2     1,954       0.5     3,285       1.0

Settlement

     —        0.0     —        0.0     3,200       1     —        0.0
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP gross profit

   $ 40,066       29.1   $ 42,146       32.7   $ 106,746       28.3   $ 115,860       34.6
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

GAAP operating expenses

   $ 28,142       20.5   $ 27,705       21.5   $ 82,192       21.8   $ 81,996       24.5

Spin related stock-based compensation

     (3     0.0     (26     0.0     (10     0.0     (79     0.0

Relocation expenses

     (431     -0.3     (321     -0.2     (5,092     -1.4     (2,649     -0.8
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP operating expenses

   $ 27,708       20.2   $ 27,358       21.2   $ 77,090       20.5   $ 79,268       23.7
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

GAAP operating income

   $ 11,282       8.2   $ 14,136       11.0   $ 19,400       5.2   $ 30,579       9.1

Settlement

     —        0.0     —        0.0     3,200       —        —        0.0

Spin related stock-based compensation

     3       0.0     26       0.0     10       0.0     79       0.0

Relocation expenses

     1,073       0.8     626       0.5     7,046       1.9     5,934       1.8
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP operating income

   $ 12,358       9.0   $ 14,788       11.5   $ 29,656       7.9   $ 36,592       10.9
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

GAAP net income

   $ 7,882       5.7   $ 11,079       8.6   $ 13,499       3.6   $ 24,039       7.2

Settlement

     —        0.0     —        0.0     3,200       0.8     —        0.0

Spin related stock-based compensation

     3       0.0     26       0.0     10       0.0     79       0.0

Relocation expenses

     1,073       0.8     626       0.5     7,046       1.9     5,934       1.8

Tax effect of non-GAAP adjustments

     (254     -0.2     (153     -0.1     (2,446     -0.6     (1,425     -0.4
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP net income

   $ 8,704       6.3   $ 11,578       9.0   $ 21,309       5.7   $ 28,627       8.6
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

GAAP net income per share - diluted

   $ 0.17       $ 0.24       $ 0.29       $ 0.52    

Settlement

     —          —          0.07         —     

Relocation expenses

     0.02         0.01         0.15         0.13    

Tax effect of non-GAAP adjustments

     (0.01       —          (0.05       (0.03  
  

 

 

     

 

 

     

 

 

     

 

 

   

Non-GAAP net income per share - diluted

   $ 0.19  (a)      $ 0.25       $ 0.46       $ 0.62    
  

 

 

     

 

 

     

 

 

     

 

 

   

 

(a)

Non-GAAP net income per share does not foot due to rounding.


SMITH & WESSON BRANDS, INC. AND SUBSIDIARIES

RECONCILIATION OF GAAP INCOME FROM OPERATIONS TO NON-GAAP ADJUSTED EBITDAS

(in thousands)

(Unaudited)

 

     For the Three Months Ended     For the Nine Months Ended  
     January 31, 2024     January 31, 2023     January 31, 2024     January 31, 2023  

GAAP net income

   $ 7,882     $ 11,079     $ 13,499     $ 24,039  

Interest expense

     1,615       671       3,404       1,806  

Income tax expense

     2,434       3,389       4,629       7,483  

Depreciation and amortization

     6,941       6,669       24,145       21,795  

Stock-based compensation expense

     1,504       1,253       4,264       3,859  

Settlement

     —        —        3,200       —   

Relocation expense

     1,073       2,082       5,186       7,390  
  

 

 

   

 

 

   

 

 

   

 

 

 

Non-GAAP Adjusted EBITDAS

   $ 21,449     $ 25,143     $ 58,327     $ 66,372  
  

 

 

   

 

 

   

 

 

   

 

 

 
     15.6     19.5     15.5     19.8

SMITH & WESSON BRANDS, INC. AND SUBSIDIARIES

RECONCILIATION OF OPERATING CASH FLOW FROM OPERATIONS TO FREE CASH FLOW

(In thousands)

(Unaudited)

 

     For the Three Months Ended     For the Nine Months Ended  
     January 31, 2024     January 31, 2023     January 31, 2024     January 31, 2023  

Net cash provided by/(used in) operating activities

   $ 25,367     $ 6,917      $ 63,123      $ (21,248

Net cash used in investing activities

     (18,205     (25,162     (85,188     (64,752
  

 

 

   

 

 

   

 

 

   

 

 

 

Free cash flow

   $ 7,162      $ (18,245   $ (22,065   $ (86,000
  

 

 

   

 

 

   

 

 

   

 

 

 
v3.24.0.1
Document and Entity Information
Mar. 07, 2024
Cover [Abstract]  
Amendment Flag false
Entity Central Index Key 0001092796
Document Type 8-K
Document Period End Date Mar. 07, 2024
Entity Registrant Name Smith & Wesson Brands, Inc.
Entity Incorporation State Country Code NV
Entity File Number 001-31552
Entity Tax Identification Number 87-0543688
Entity Address, Address Line One 2100 Roosevelt Avenue
Entity Address, City or Town Springfield
Entity Address, State or Province MA
Entity Address, Postal Zip Code 01104
City Area Code (800)
Local Phone Number 331-0852
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Security 12b Title Common Stock, Par Value $0.001 per Share
Trading Symbol SWBI
Security Exchange Name NASDAQ
Entity Emerging Growth Company false

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