American Outdoor Brands stock plummets after $2.2 million first quarter loss
By Christen Smith
American Outdoor Brands stock saw a significant drop last week after the company reported a $2.2 million first quarter loss. The rugged outdoors conglomerate counts Smith & Wesson as its top-earner in a portfolio of more than two dozen brands. (Photo: Smith & Wesson Corp/Facebook)
Stock prices for American Outdoor Brands plummeted 17 percent last week after the company reported a $2.2 million first quarter loss.
The rugged outdoors conglomerate counts Smith & Wesson as its top-earner in a portfolio of more than two dozen brands including Gemtech, Crimson Trace, Bubba Blade and Old Timer.
“Our financial results for the first quarter reflected lower than anticipated shipments in our firearms business, consistent with a softening in wholesaler and retailer orders, partially offset by increased revenue from our outdoor products and accessories business, which grew organically at 11.4 percent and which more than doubled inorganically,” said CEO James Debney in a press release Thursday. “Total revenue for the quarter also faced a challenging comparison to last year’s heightened level of firearms demand, which we believe was driven by concerns for personal safety and the potential for increased firearm legislation.”
The company’s $129 million revenue fell 39 percent over 2016, according to AOBC’s financial filings. The