New Quarterly Sales Record for Smith & Wesson

by
posted on September 7, 2021
Smith & Wesson logo

Firearm sales nationwide have cooled compared to last year’s scalding pace, although the latest quarterly report from Smith & Wesson indicates the trend hasn’t affected the legendary firm. The company’s sales of its guns set an all-time record for its first financial quarter of 2022, which includes May, June and July.

Its net sales for the period totaled $274.6 million, an increase of $44.7 million or 19.5 percent over the same quarter last year. Since May the total number of firearm purchases monthly—estimated by volume of FBI NICS checks—have taken a distant second place to 2020 figures, underscoring Smith & Wesson’s popularity in a market with supply lines finally refilling.

“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,” said Mark Smith, president and chief executive officer of Smith & Wesson, in the company’s quarterly report.

Even more remarkable, our team has been able to deliver nearly 170 percent 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 percent 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.”

The demand hasn’t slowed the appearance of new and innovative, either.

“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,” Smith said. “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.”

Latest

115-grain 9 mm ASP load from Nosler
115-grain 9 mm ASP load from Nosler

New from Nosler: ASP Handgun Ammunition

Nosler has an impeccable reputation for producing quality ammunition and components, but it is most often thought of as a company that manufactures hunting bullets and hunting ammunition. This is understandable—the company was founded on the Nosler Partition bullet.

First Look: SilencerCo Osprey 2.0 Suppressor

An updated edition of a very popular pistol-caliber suppressor.

First Look: Grovtec QS Two Point Sling

Available in four colors with a quick-adjust capability.

Glock Aftermarket Magazine Roundup

There’s more than one way to feed your Glock pistol.

Becoming A Gentleman Warrior

Knowing how to shoot is one thing. Knowing how to stay out of trouble is even better, which is an essential part of being a man-at-arms.

I Carry: Glock G44 Pistol in Dark Star Gear Holster

The .22LR G44 mimics the size of the Glock G19, but it's more than just a substitute for it's 9mm cousin.

Interests



Get the best of Shooting Illustrated delivered to your inbox.