Smith & Wesson VP of Sales to retire in May 2025

MARYVILLE, Tennessee - Smith & Wesson Brands, Inc. (NASDAQ: SWBI), a prominent American firearms manufacturer, announced today the upcoming retirement of Sue Cupero, the company's Vice President of Sales. Ms. Cupero is set to retire in May 2025, marking the end of a notable career spanning more than four decades with the company.

Since her start at Smith & Wesson in 1979, Cupero has been instrumental in developing the company's sales strategies and expanding its market presence. Her efforts have significantly contributed to strengthening client and partner relationships. Mark Smith, CEO of Smith & Wesson, praised Cupero's dedication and her role in establishing a robust sales team, positioning her as an industry icon.

The company confirmed that the process to find Cupero's successor would begin immediately, with the aim of ensuring a smooth transition of responsibilities before her departure.

Smith & Wesson Brands, Inc. is known for its extensive range of quality firearms, including handguns, long guns, and suppressors, as well as manufacturing services like forging and precision molding. The company operates under the Smith & Wesson® and Gemtech® brands, catering to both consumer and professional markets globally.

This announcement is based on a press release statement from Smith & Wesson Brands, Inc. and includes forward-looking statements regarding the appointment of a new Vice President of Sales, which are subject to risks and uncertainties that could cause actual results to differ from those anticipated.

In other recent news, Smith & Wesson Brands, Inc. reported second-quarter earnings that fell short of analyst expectations, leading to a reduced outlook for the remainder of fiscal 2025. The firearms manufacturer posted adjusted earnings per share of $0.11, missing the $0.17 consensus estimate, and revenue of $129.7 million, slightly below the projected $132.42 million but marking a 3.8% YoY increase. The company attributes the weaker-than-expected results to normalizing demand and inflationary pressures impacting consumer spending.

In light of these developments, Smith & Wesson anticipates third-quarter revenue to be approximately 10-15% lower than the same period last fiscal year. Despite these challenges, the company reported an increase in market share, with new products accounting for 44% of the quarter's sales. Additionally, the company's gross margin improved to 26.6% from 25.4% in the year-ago period.

Smith & Wesson's board authorized a new $50 million share repurchase program and maintained its quarterly dividend of $0.13 per share. The company also secured a new $175 million unsecured credit line, increasing its total available borrowings by $75 million. Following the announcement of these results and the revised outlook, Lake Street Capital Markets and Craig-Hallum downgraded the company's stock.

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