Smith & Wesson gun sales are up 22%

Gun stocks surge after Orlando tragedy
Gun stocks surge after Orlando tragedy

Smith & Wesson is selling more guns than ever.

The company, one of the nation's largest gun sellers, reported a 22.4% annual increase in firearm sales Thursday.

Smith & Wesson executives also projected robust sales growth for the next 10 months.

Shares of Smith & Wesson (SWHC) spiked nearly 7% in after-hours trading after the report was released.

That follows a volatile few days for the gun manufacturer's stock, which initially jumped after the deadliest mass shooting in U.S. history that left 49 victims dead at an Orlando gay club.

Smith & Wesson's report included sales in the three months through April 30. But it's typical for gun manufacturers to see demand rise in the wake of such violent incidents as pro-gun consumers fear laws will restrict access.

After the shooting in San Bernardino in December, Smith & Wesson's quarterly sales jumped 61.5%.

Jeff Buchanan, CFO of Smith & Wesson, explicitly told investors the company does not alter its guidance based on political rhetoric or anticipated legislation.

Buchanan instead attributed their favorable forecast to "product innovation in the firearm and accessories division."

smith and wesson guns

Correction: An earlier version of this article incorrectly reported the increase in Smith & Wesson's shares during Thursday's trading day.

Social Surge - What's Trending

Mortgage

Newsletter

CNNMoney Sponsors