Smith & Wesson just reported a very strong third quarter.
The gunmaker posted third-quarter revenues Thursday of $210.8 million, crushing the estimate for $179 million. Adjusted earnings per share (EPS) came in at $0.59, versus $0.41 expected.
The company also raised its guidance for full-year earnings.
Shares were halted for news pending as the market closed. They have surged 87% over the past 12 month, as demand for firearms grew.
That’s partly due to consumer concerns about forthcoming tougher gun laws.
CEO James Debney said in the release: “During the third quarter, the Adjusted National Instant Criminal Background Check System (NICS) data, which serves as an indicator of consumer purchases, reported a significant increase in growth versus the prior year, especially in handguns. In addition, our product sell-through at distribution was much stronger than we had anticipated.”
More to come, refresh this page for updates.