Smith & Wesson Brands, Inc. Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>Smith & Wesson Brands, Inc. filed its Q3 2024 10-Q report on March 7, 2024.</b>

AI Summary

SMITH & WESSON BRANDS, INC. (SWBI) filed a Quarterly Report (10-Q) with the SEC on March 7, 2024. Smith & Wesson Brands, Inc. filed a 10-Q report for the period ending January 31, 2024. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on April 30th. The company was formerly known as Smith & Wesson Holding Corp. The company's business address is 2100 Roosevelt Avenue, Springfield, MA 01104.

Why It Matters

For investors and stakeholders tracking SMITH & WESSON BRANDS, INC., this filing contains several important signals. This filing provides an update on the company's financial performance and operational status for the third quarter of fiscal year 2024. Investors and analysts can use this report to assess the company's current financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: low — SMITH & WESSON BRANDS, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments, indicating a low level of immediate risk from the filing itself.

Analyst Insight

Monitor future filings for revenue trends, cost management, and any updates on product demand and market conditions.

Key Numbers

• 2024-01-31 — Period End Date (Conformed Period of Report)
• 2024-03-07 — Filing Date (Filed as of date)
• 0430 — Fiscal Year End (Fiscal Year End)
• 001-31552 — SEC File Number (SEC File Number)

Key Players & Entities

• SMITH & WESSON BRANDS, INC. (company) — Filer name
• 0000950170-24-027968 (other) — Accession Number
• 20240131 (date) — Conformed Period of Report
• 20240307 (date) — Filed as of date
• 0001092796 (company) — Central Index Key
• 3480 (other) — Standard Industrial Classification
• NV (other) — State of Incorporation
• 0430 (date) — Fiscal Year End

FAQ

Industry Context

Smith & Wesson Brands, Inc. operates in the firearms industry, which is subject to significant regulatory oversight and market fluctuations influenced by consumer demand and political climate.

Regulatory Implications

The firearms industry is heavily regulated at federal, state, and local levels, impacting manufacturing, sales, and distribution.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Analyze revenue streams and cost structures to understand profitability drivers.
3. Assess any disclosed risks and their potential impact on future operations.

Key Dates

• 2024-01-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-03-07: Filing Date — Date the 10-Q report was officially filed with the SEC.
• 0430: Fiscal Year End — Indicates the end of the company's annual fiscal cycle.

Year-Over-Year Comparison

This is the initial filing analyzed for the period ending January 31, 2024. No prior filing data is available for comparison within this analysis.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share SWBI Nasdaq Global Select
• $0 — 6,776 shares of common stock, par value $0.001, outstanding as of March 5, 2024.
• $120.0 million — , or cause to be incurred, no less than $120.0 million in aggregate capital expenditures on or
• $25.97 — tain an average hourly wage of at least $25.97 at the facility; our expectation, when
• $160.0 million — chinery and equipment, to spend between $160.0 million and $170.0 million through the end of f
• $170.0 million — nt, to spend between $160.0 million and $170.0 million through the end of fiscal 2024; our int

Filing Documents

• swbi-20240131.htm (10-Q) — 1774KB
• swbi-ex31_1.htm (EX-31.1) — 13KB
• swbi-ex31_2.htm (EX-31.2) — 13KB
• swbi-ex32_1.htm (EX-32.1) — 9KB
• swbi-ex32_2.htm (EX-32.2) — 9KB
• img126789377_0.jpg (GRAPHIC) — 5KB
• 0000950170-24-027968.txt (&nbsp;) — 7093KB
• swbi-20240131.xsd (EX-101.SCH) — 1129KB
• swbi-20240131_htm.xml (XML) — 1124KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 4

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 20

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 26

Controls and Procedures

Item 4. Controls and Procedures 26

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 27

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27

Other Information

Item 5. Other Information 27

Exhibits

Item 6. Exhibits 27

Signatures

Signatures 29 EX-31.1 EX-31.2 EX-32.1 EX-32.2 Smith & Wesson, S&W, M&P, M&P Shield, Performance Center, Airlite, Airweight, American Guardians, America's Master Gunmaker, Armornite, Arrow, Aurora, Aurora-II, Blast Jacket, Bodyguard, Carry Comp, Chiefs Special, Club 1852, Compass, Competitor, Contender, CSX, Dagger, Encore, E-Series, EZ, Flextech, G-Core, Gemtech, Gemtech Suppressors, GM, GM-S1, GMT-Halo, Governor, Integra, Lady Smith, Lever Lock, Lunar, M&P FPC, M2.0, Mag Express, Magnum, Maxi-Hunter, Mist-22, Mountain Gun, Number 13, PC, Power Rod, Protected by Smith & Wesson, Put A Legend On Your Line, QLA, Quick Load Accurizor, Quickmount, Shield, Smith & Wesson Collectors Association, Smith & Wesson Performance Center, Smith & Wesson Precision Components, Speed Breech, Speed Breach XT, SW Equalizer, SW22 Victory, Swing Hammer, T/C, T/CR22, T17, The S&W Bench, The Sigma Series, Thompson/Center, Trek, Triumph, U-View, 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. The statements contained in this Quarterly Report on Form 10-Q that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained or incorporated herein by reference in this Quarterly Report on Form 10-Q, including statements regarding our future operating results, future financial position, business strategy, objectives, goals, plans, prospects, markets, and plans and objectives for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "anticipates," "believes," "estimates," "expects," "intends," "targets," "contemplates,"

Financi al Statements

Item 1. Financi al Statements SMITH & WESSON BRANDS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDAT ED BALANCE SHEETS (Unaudited) 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 (Note 4) 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 (Note 9) 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

View Full Filing

View this 10-Q filing on SEC EDGAR