Smith & Wesson Sales Put Perspective on Firearm Demand

by
posted on December 10, 2020
** When you buy products through the links on our site, we may earn a commission that supports NRA's mission to protect, preserve and defend the Second Amendment. **
another-record-breaker.jpg

For the three-month period that ended Oct. 31, Smith & Wesson sold more guns than the company ever has before. The high-water mark erases a record set only three months earlier.

“Today, I am pleased to report a second consecutive record-breaking quarter for our 168-year-old company,” said Mark Smith, company president and chief executive officer, in a quarterly report issued last week. “Because of the hard work of our employees, who have been diligently following our safety protocols, we have been able to continue safely operating our business and, during these extremely difficult times when so many of our fellow Americans are out of work, we successfully created and filled 287 new jobs during our second quarter.”

Comments made during the follow-up earnings call put current demand for firearms into perspective and indicate selection at retailers will remain limited for some time. Smith told participants that total units shipped by the company during the reporting period came in at 586,000. Despite the fact the figure represents an increase of 93.4 percent, it wasn’t enough to keep pace with orders. Inventory in reported channels, during the same period, dropped by 208,000.

A total of 420,000 handguns came out of the factory and were shipped during the quarter, a 73.4 percent increase. The volume didn’t bolster the number held on retail shelves or in warehouses. Units there went down by 178,000.

Pistols and revolvers aren’t the only firearms selling fast. The company’s long-arm shipments went up 167.7 percent while inventory dwindled by 30,000.

Smith explained during the conference call that, “…we can estimate that there were nearly 8 million Americans who made the decision in 2020, so far, to exercise their Second Amendment rights for the first time.” He later told participants, “And all indications are that anywhere between a quarter to a third of those are going to become long-term enthusiasts.”

As for how long the increased demand will last, his answer to one question indicates well into 2021. “We expect this to continue at least through our Q3 and into our Q4, and we’ll see where it goes from there,” Smith explained. “But as I said, I mean, we’re really taking a long-term view to this. And I think we’ve got—as you said, we’ve kind of put a new layer on in terms of the consumer base.”

Latest

Gotw Rra Lar 22 Tactical Carbine Web
Gotw Rra Lar 22 Tactical Carbine Web

Gun Of The Week: Rock River Arms LAR-22 Tactical Carbine

This week, we're on the range with the Rock River Arms LAR-22 Tactical Carbine, a rimfire variant of the AR-15 that's designed for reliability and gives enthusiasts a way to shoot affordably.

The Armed Citizen® July 11, 2025

Read today's "The Armed Citizen" entry for real stories of law-abiding citizens, past and present, who used their firearms to save lives.

Japanese Last-Ditch Small Arms Of World War II

The crude assortment of fighting tools used by the Japanese during World War II give clues of an unprepared and unmatched last-ditch fight that ultimately lead to Allied victory.

Federal Ammunition Awards 2025 Tom Knapp Memorial Scholarships

Federal Ammunition recently awarded the 2025 Tom Knapp Memorial Scholarships to two 4-H shooting sports teen ambassadors.

2025 Optic Of The Year: Burris Eliminator 6

Even as new generation after new generation of Burris Eliminator continued to add more advanced technology and functionality, it remained odd-looking—until the launch of this year’s sixth-generation product, which is the first in the line that can mount atop a rifle using standard 34 mm scope rings.

I Have This Old Gun: Star Model B

Of the many Spanish-made firearms to emerge throughout the 19th and 20th century, one of the most recognizable is the Star Model B, largely due to its similarity to the Colt Model 1911.

Interests



Get the best of American Rifleman delivered to your inbox.