Analyst Summary:
Smith & Wesson Brands, Inc. (SWBI) reported its third quarter fiscal year 2023 financial results, with its top-line increasing sequentially and above pre-pandemic levels. The bottom-line results also show a significant improvement over pre-pandemic levels allowed by the work its team has done to capitalize on the opportunity afforded by a flexible manufacturing model during the surge. The company's investment in the relocation to Tennessee resulted in borrowing against its line of credit during the third quarter, but it expects to be able to repay this balance by the time the relocation is complete. Despite inflationary pressures, the average selling prices and profitability for the third quarter remained well above pre-pandemic levels. The company will focus on managing the business for long-term profitability, market share performance, and capital return to its stockholders. The conference call may include forward-looking statements.