Smith & Wesson Files 2024 Annual Report

TL;DR

SWBI dropped its 2024 10-K. All the deets on revenue, debt, and future plans.

AI Summary

Smith & Wesson Brands, Inc. filed its 10-K for the fiscal year ending April 30, 2024, detailing its financial performance and business operations. The company, headquartered in Springfield, MA, operates in the ordnance and accessories sector. This filing provides a comprehensive overview of its fiscal health, strategic initiatives, and risk factors for investors.

Why It Matters

This 10-K filing provides crucial insights into Smith & Wesson's financial standing and operational performance over the past fiscal year, impacting investor decisions and market perception.

Risk Assessment

Risk Level: medium — The company operates in a highly regulated industry with significant product liability and market demand volatility risks.

Key Numbers

• 0430 — Fiscal Year End (The report covers the fiscal year ending on this date.)
• 20240620 — Filing Date (The date the 10-K was officially filed with the SEC.)

Key Players & Entities

• SMITH & WESSON BRANDS, INC. (company) — Filer
• 0000950170-24-075584 (other) — Accession Number
• 20240430 (date) — Fiscal Year End
• 20240620 (date) — Filing Date
• Springfield, MA (location) — Business Address
• AMERICAN OUTDOOR BRANDS CORP (company) — Former Company Name
• SMITH & WESSON HOLDING CORP (company) — Former Company Name

FAQ

Key Financial Figures

• $160.0 million — in an aggregate amount of approximately $160.0 million to $170.0 million; our estimation that
• $170.0 million — ount of approximately $160.0 million to $170.0 million; our estimation that the annual domesti
• $2.9 billion — on industry shipments is approximately $2.9 billion for handguns and $1.8 billion for long
• $1.8 billion — oximately $2.9 billion for handguns and $1.8 billion for long guns, excluding shotguns; our
• $25.0 million — expectation that we will spend between $25.0 million to $30.0 million on capital expenditure
• $30.0 million — we will spend between $25.0 million to $30.0 million on capital expenditures in fiscal 2025;
• $123.5 million — nd fiscal 2024, we generated a total of $123.5 million in cash from operations. During the sam
• $180.8 million — ns. During the same period, we invested $180.8 million in cash to acquire property, equipment,
• $150.0 million — perty, equipment, and patents, of which $150.0 million was to fund the Relocation, repurchased
• $10.2 million — was to fund the Relocation, repurchased $10.2 million of our outstanding stock, distributed $
• $40.4 million — n of our outstanding stock, distributed $40.4 million in dividends, and borrowed $40.0 millio
• $40.0 million — 40.4 million in dividends, and borrowed $40.0 million from our revolving line of credit. We i

Filing Documents

• swbi-20240430.htm (10-K) — 2804KB
• swbi-ex10_124b.htm (EX-10.124(B)) — 143KB
• swbi-ex19_1.htm (EX-19.1) — 105KB
• swbi-ex21_1.htm (EX-21.1) — 5KB
• swbi-ex23_1.htm (EX-23.1) — 4KB
• swbi-ex31_1.htm (EX-31.1) — 12KB
• swbi-ex31_2.htm (EX-31.2) — 12KB
• swbi-ex32_1.htm (EX-32.1) — 8KB
• swbi-ex32_2.htm (EX-32.2) — 8KB
• swbi-ex97_1.htm (EX-97.1) — 13KB
• img126792259_0.jpg (GRAPHIC) — 34KB
• img126792259_1.jpg (GRAPHIC) — 157KB
• 0000950170-24-075584.txt ( ) — 12758KB
• swbi-20240430.xsd (EX-101.SCH) — 1840KB
• swbi-20240430_htm.xml (XML) — 2188KB

BUSINESS

BUSINESS 1 ITEM 1A.

RISK FACTORS

RISK FACTORS 14 ITEM 1B. UNRESOLVED STAFF COMMENTS 33 ITEM 1C. CYBERSECURITY ITEM 2.

PROPERTIES

PROPERTIES 35 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 35 ITEM 4. MINE SAFETY DISCLOSURES 35 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 36 ITEM 6. RESERVED 38 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 39 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 47 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 47 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 47 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 47 ITEM 9B. OTHER INFORMATION 48 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 49 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 50 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 50 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 50 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 50 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 50 PART IV ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULE S 51 ITEM 16. FORM 10-K SUMMARY 54

SIGNATURES

SIGNATURES 55 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F- 1 Smith & Wesson, S&W, M&P, M&P Shield, Performance Center, Airlite, Airweight, American Guardians, Armornite, Arrow, Aurora, Aurora-II, Blast Jacket, Bodyguard, Carry Comp, Chiefs Special, Club 1852, Competitor, CSX, Dagger, E-Series, EZ, G-Core, Gemtech, Gemtech Suppressors, GM, GM-S1, GMT-Halo, Governor, Integra, Lady Smith, Lever Lock, Lunar, M&P FPC, M2.0, Magnum, Mist-22, Mountain Gun, PC, Protected by Smith & Wesson, Put A Legend On Your Line, Quickmount, Shield, Smith & Wesson Collectors Association, Smith & Wesson Performance Center, Smith & Wesson Precision Components, Smith & Wesson Response, SW Equalizer, SW22 Victory, The S&W Bench, The Sigma Series, Trek, Volunteer, and Weather Shield are some of the registered U.S. trademarks of our company or one of our subsidiaries. This report also may contain trademarks and trade names of other companies. This report includes market and industry data that we obtained from industry publications, third-party studies and surveys, government agency sources, filings of public companies in our industry, and internal company surveys. Industry publications and surveys generally state that the information contained therein has been obtained from sources believed to be reliable. Although we believe the foregoing industry and market data to be reliable at the date of the report, this information could prove to be inaccurate as a result of a variety of matters. The statements contained in this Annual Report on Form 10-K that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. All statements other than statements of historical facts contained or incorporated herein by reference in this Annual Report on Form 10-K, inc

View Full Filing

View this 10-K filing on SEC EDGAR