The craziness of 2020 has created a run on guns that just won’t stop. Smith and Wesson released their 2nd quarter financial results for 2020, and it has blown away all expectations.
The quarter ended on October 31 and showed the company sales went from $113.7 million to $48.7 million. That amounts to a 118.9 percent increase in quarterly sales. Long gun sales saw a larger increase of 217 percent to $76 million, and handguns climbed 98 percent to $161 million.
“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,” said Mark Smith, President, and CEO. “Along with our existing employees, our new team members played a critical role in achieving these record-breaking numbers.”
While Smith and Wesson have blown away expectations, November appears to be an even bigger increase. The FBI has said that background checks are up 45 percent over last year.