Smith & Wesson Brands Inc ( SWBI ) shares are trading higher after the company reported its fourth-quarter financial results Thursday. Here's a look at the key figures from the report. 

The Details: Smith & Wesson reported quarterly earnings of 45 cents per share, which beat the analyst consensus estimate of 34 cents by 32.35%.

Quarterly sales came in at $159.1 million, which beat the analyst consensus estimate of $156.796 million and represents a 9.89% increase over sales of $144.777 million from the same period last year.

The company said gross margin was 29% compared with 39.8% in the comparable quarter last year.

“Fiscal 2023 ended with a very solid fourth quarter as the headwinds we faced from elevated channel inventory throughout the first half of the fiscal year abated. Focused consumer promotions in the second half were successful in driving retail and distributor inventories down significantly and we are now at or below targeted levels with every major customer,” said Mark Smith, president and CEO of Smith & Wesson Brands ( SWBI ).

“And most importantly, our retail market share data indicates that we’ve maintained our leadership position at the sales counter with the firearm consumer. Combined with lower inventory levels, this points to continued success throughout fiscal 2024,” Smith added.

SWBI Price Action: According to Benzinga Pro, Smith & Wesson shares are up 8.48% after-hours at $17.79 at the time of publication Thursday.

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