(AOF) – Smith & Wesson published quarterly results at their lowest in 13 years due to a sharp drop in demand and significant destocking by distributors. The arms maker posted net income of $3.3 million, or 7 cents per share, in the first quarter of its 2022/2023 fiscal year. Excluding exceptional items, earnings per share came out at 11 cents against a consensus of 11 cents. Turnover fell by 69.3% to 84.4 million. Wall Street expected 129.8 million.
AOF – LEARN MORE
The end of a duopoly?
For several decades, the American Boeing and the European Airbus have shared 99% of the world market for airliners with more than 110 seats. This market weighs more than 100 billion dollars per year. However, this duopoly seems to be weakened in 2022 for several reasons. First, for the first time, two medium-haul single-aisle aircraft, the Chinese Comac’s C919 and the Russian Irkut’s MC-21, are about to enter service. Added to this is the Boeing 737 MAX crisis. With the cessation of deliveries of this aircraft between 2019 and 2021, the production balance has been broken. In 2021 Boeing posted 340 deliveries, with Airbus remaining well ahead with 611.