SPRINGFIELD -- Sales were down 33 percent last year for American Outdoor Brands Corp., the parent of Springfield gunmaker Smith & Wesson, according to a disappointing earnings report issued after the close of the stock market Wednesday. American Outdoor Brands said its full-year net sales for the fiscal year completed April 30 were $606.9 million, compared with $903.2 million a year ago. Fourth-quarter net sales were $172 million, compared with $229.2 million for the fourth quarter last year, a decrease of 24.9 percent, the company said. Full year net income was $20.1 million, or 37 cents per share, compared with $127.9 million, or $2.25 per share, last year. Fourth-quarter net income was $7.7 million, or 14 cents per share, compared with $27.7 million, or 50 cents a share, for the comparable quarter last year. Analysts at Zacks Equity Research predicted American Outdoor Brands' fourth-quarter … [Read more...] about Smith & Wesson parent American Outdoor Brands reports sales slide
American outdoor brands
NEW YORK (AP) — Stocks that moved substantially or traded heavily Friday:American Outdoor Brands Corp., up 34 to $9.75The firearms maker said sales fell in December and January and forecast little growth in those sales for at least a year.Gap Inc., up $2.48 to $34.18The retailer's quarterly results were stronger than Wall Street had anticipated.Foot Locker Inc., down $5.84 to $40.04The shoe store disclosed weak sales and said it will take a few more quarters for sales to pick up.J.C. Penney Co., down 21 cents to $3.71The department store's holiday-season sales were weaker than analysts expected.Microsemi Corp., up $3 to $67.30The company agreed to be bought by Microchip Technology for $68.78 a share, or more than $8 billion.U.S. Steel Corp., down 62 cents to $45.39Steel companies gave back some of their sharp gains that followed President Donald Trump's announcement of planned tariffs on steel imports.Textron Inc., down 58 cents to $57.66The tariff announcement continues to weigh … [Read more...] about Foot Locker and American Outdoor Brands skid; Gap climbs
Axon Enterprise (NASDAQ: AAXN) and American Outdoor Brands (NASDAQ: AOBC) sell to a lot of the same customers in law enforcement, but their positions today couldn't be further apart. Axon's taser and body camera business is booming as law enforcement looks for ways to be more effective and efficient in its work. Meanwhile, the firearm sales that drive American Outdoor's business are plummeting. Gun sales will recover eventually, but they may not bounce back fast enough to make American Outdoor a better stock than Axon Enterprise. Image source: Axon Enterprise. The boom and bust of firearm sales It may seem logical that a favorable policy environment, driven by Republicans dominating national politics, would help gun manufacturers, but that's not the case. Sales of firearms have plummeted since President Trump took office, and American Outdoor Brands has felt the brunt of the drop. In the company's fiscal second quarter, management said that NICS background checks for … [Read more...] about Better Buy: Axon Enterprise vs. American Outdoor Brands
Compared with last year, 2018 can't be any worse for American Outdoor Brands (NASDAQ: AOBC), right? The slowdown in gun sales wrecked its stock, which lost 40% of its value, and though data indicates industry weakness will persist, there are some very good reasons to be hopeful that this year will be better, though not its best. Politics still matter While the sense of urgency behind buying a gun was largely eliminated at the federal level with the election of President Trump and a Republican Congress, 2017 was a rather tumultuous year in Washington, and 2018 is shaping up as more of the same. Image source: Getty Images. There were six special elections held in 2017, five for the House of Representatives and one for the Senate. While the House seats didn't flip parties, the Senate seat did, meaning that Republicans now have just a one-vote margin of control. In 2018, there are four more special elections, all for the House, plus the regular congressional races in November, … [Read more...] about Will 2018 Be American Outdoor Brands Corp.’s Best Year Yet?
What happened Shares of American Outdoor Brands Corporation (NASDAQ: AOBC) -- formerly known as Smith & Wesson -- dropped 39.1% in 2017, according to data from S&P Global Market Intelligence, as the firearms and outdoor sports company struggled to sell its wares absent the threat of gun regulation. To be fair, American Outdoor Brands stock was up more than 15% through the first half of 2016 -- that is, at least until shares plummeted on the heels of its fiscal fourth-quarter report at the end of June. AOBC data by YCharts So what Even then, American Outdoor Brands' June report appeared to hold good news at first. Quarterly revenue climbed a modest 3.6% year over year and translated to adjusted earnings of $0.57 per share -- well above Wall Street's expectations at the time. Investors were less impressed, however, by American Outdoor Brands' guidance, which called for full-year earnings to decline a whopping 44% at the midpoint of its range of $1.16 to $1.36. Things … [Read more...] about Why American Outdoor Brands Stock Fell 39.1% in 2017