Smith & Wesson Brands Inc. (SWBI) surged as much as 28% at the start of US stock trading, reaching $17.56, approaching the March 21, 2024 high of $18.05, the January 5, 2022 high of $18.94, and the November 19, 2021 high of $24.26.

The company reported net sales of $178.4 million for the fourth fiscal quarter, surpassing analysts’ expectations of $155.5 million. Adjusted earnings per share (EPS) came in at $0.36. Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was $30.9 million, compared to $23.5 million for the same period last year, while the market had expected $23.3 million. Adjusted operating income was $21.3 million, above the market’s forecast of $15.4 million. Expand