Sep. 3 at 11:10 PM
$SWBI —
June: Q1 revenue guided 15%–20% above prior year. ASPs guided to decline ~5% sequentially.
September reality:
→ Q1 revenue printed 32.3% (Full year held at 5%–7%)
→ ASPs missed guidance: handguns flat, long guns +11% seq / +18% YoY (miss wasn't acknowledged)
→ Revolver segment (3 named product lines in June) received zero mention
→
$2.9M tariff refunds (260 bps of GM) introduced with no forward framing
The offsets: 1854 shipments doubled, LE/international high double-digit growth, Springfield build on schedule.
#TheGapReport
