One of the nation’s largest gun makers is ramping up production after a record-breaking first quarter in 2020.
Smith & Wesson, one of only two publicly traded gun manufacturers in America, reported a 140 percent year-over-year jump in gun sales between the beginning of May and the end of July. The company moved 584,000 guns in that period, an unprecedented demand that caused inventories to fall. That’s why the company has doubled down on its efforts to manufacture more guns in order to meet continuing demand.
“As we’ve seen before during these surge periods, these results reflect that despite our record numbers in market share growth, consumer demand for our products during the quarter still exceeded our internal manufacturing capacity levels, ” Mark Smith, Smith & Wesson president and CEO, told investors in a call on Thursday. “We’re continuing to ramp up…. We’re going to go to maximum capacity.”