Smith & Wesson Brands 10-Q Filing

TL;DR

SWBI 10-Q filed: Financials for Q ending 7/31/24 are in. Check it out.

AI Summary

Smith & Wesson Brands, Inc. filed its 10-Q for the period ending July 31, 2024. The company reported its financial performance and position, including assets, liabilities, and equity. Specific financial figures and operational details are provided within the filing, which covers the company's activities during the specified fiscal quarter.

Why It Matters

This filing provides investors and analysts with a detailed look into Smith & Wesson's financial health and operational performance for the quarter, influencing investment decisions.

Risk Assessment

Risk Level: medium — As a firearms manufacturer, Smith & Wesson is subject to significant regulatory, political, and market risks that can impact its financial performance.

Key Players & Entities

• SMITH & WESSON BRANDS, INC. (company) — Filer
• 20240731 (date) — Period of Report
• 0000950170-24-104004 (accession_number) — Filing Identifier
• 0001092796 (cik) — Central Index Key
• NV (state) — State of Incorporation
• 0430 (fiscal_year_end) — Fiscal Year End
• 001-31552 (sec_file_number) — SEC File Number
• 2100 ROOSEVELT AVENUE (street) — Business Address
• SPRINGFIELD (city) — Business Address
• MA (state) — Business Address

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share SWBI Nasdaq Global Select
• $0 — 2,284 shares of common stock, par value $0.001, outstanding as of September 3, 202
• $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 2025; our bel
• $0.12 — — — ( 766 ) Dividends issued ($0.12 per common share) — — — ( 5,536
• $0.13 — — — ( 21 ) Dividends issued ($0.13 per common share) — — — ( 5,886

Filing Documents

• swbi-20240731.htm (10-Q) — 1336KB
• 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
• img126795143_0.jpg (GRAPHIC) — 5KB
• 0000950170-24-104004.txt ( ) — 6312KB
• swbi-20240731.xsd (EX-101.SCH) — 1125KB
• swbi-20240731_htm.xml (XML) — 952KB

- 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 24

Controls and Procedures

Item 4. Controls and Procedures 24

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 25

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25

Other Information

Item 5. Other Information 25

Exhibits

Item 6. Exhibits 25

Signatures

Signatures 27 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, Armornite, Arrow, Aurora, Aurora-II, Blast Jacket, Bodyguard, Carry Comp, Chiefs Special, Club 1852, Competitor, CSX, Dagger, E-Series, EZ, Flexmag, G-Core, Gemtech, Gemtech Suppressors, GM, GM-S1, GMT-Halo, Governor, GVAC, Integra, Lady Smith, Lever Lock, Lunar, M&P FPC, M2.0, Magnum, Mist-22, Mountain Gun, Protected by Smith & Wesson, Put A Legend On Your Line, Quickmount, Shield, Silence is Golden, Smith & Wesson Collectors Association, Smith & Wesson Performance Center, Smith & Wesson Precision Components, Smith & Wesson Response, SW Equalizer, SW22 Victory, TEMPO, 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. 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, or the Exchange Act. 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," "projects," "predicts," "may," "might," "plan," "will," "would," "should," "could," "may," "can," "potential," "continue," "objective," or the negative of

Financi al Statements

Item 1. Financi al Statements SMITH & WESSON BRANDS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDAT ED BALANCE SHEETS (Unaudited) As of: July 31, 2024 April 30, 2024 (In thousands, except par value and share data) ASSETS Current assets: Cash and cash equivalents $ 35,515 $ 60,839 Accounts receivable, net of allowances for credit losses of $ 5 on July 31, 2024 and $ 0 on April 30, 2024 47,762 59,071 Inventories 189,814 160,500 Prepaid expenses and other current assets 9,040 4,973 Income tax receivable 3,183 2,495 Total current assets 285,314 287,878 Property, plant, and equipment, net 248,765 252,633 Intangibles, net 2,526 2,598 Goodwill 19,024 19,024 Deferred income taxes 7,249 7,249 Other assets 8,390 8,614 Total assets $ 571,268 $ 577,996 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 29,453 $ 41,831 Accrued expenses and deferred revenue 27,887 26,811 Accrued payroll and incentives 12,308 17,147 Accrued profit sharing 9,098 9,098 Accrued warranty 1,743 1,813 Total current liabilities 80,489 96,700 Notes and loans payable (Note 4) 69,903 39,880 Finance lease payable, net of current portion 34,994 35,404 Other non-current liabilities 7,896 7,852 Total liabilities 193,282 179,836 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, 75,551,848 issued and 44,847,258 shares outstanding on July 31, 2024 and 75,395,490 shares issued and 45,561,569 shares outstanding on April 30, 2024 76 75 Additional paid-in capital 290,790 289,994 Retained earnings 532,647 540,660 Accumulated other comprehensive income 73 73 Treasury stock, at cost ( 30,704,590 shares on July 31, 2024 and 29

View Full Filing

View this 10-Q filing on SEC EDGAR