Keep at it, ladies!
The horror that follows a mass shooting event does not last long in the public memory. And that’s good news for the firearms industry.
Smith & Wesson, one of the three biggest U.S. gunmakers (along with Sturm, Ruger & Co. and privately held Freedom Group, which owns Remington), beat analyst expectations this week with its third-quarter earnings. Quarterly revenue of $130.6 million was down nearly 11% from the third quarter of last year, but that still topped predictions. Across the board, indicators that were down were not down by as much as expected, and the market responded: Smith & Wesson stock shot up nearly 10% on Tuesday after the earnings announcement. The stock is up nearly 5% in the last year, and 45% in the past two years. It was, in all, a very good earnings report for the gunmaker.
Why is Smith & Wesson beating expectations? CEO James Debney…
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