Does anyone know how many firearms S&W produced in 2023? Just trying to put the amount of warranty returned new purchases in some kind of perspective.
Thanks in advance.
Thanks in advance.
How many?
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HughD1
Member
A quick check on the internet says 1.5 million. I don't know how accurate that is.
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Jeppo
Member
I don't find production numbers. But, they do release sales figures (theoretically firearms actually shipped during the fiscal year). It was 941,000 according to their 2023 Annual Report. An enormous reduction from the previous year.
SGT ROCK 11B
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Smith & Wesson, which produces around 1.5 million 30+ Striking U.S. Firearm Industry Statistics [2023]: How Big Is The US Gun Industry - Zippia
Jeppo
Member
Actually, not 1.5 million but 1.88 million. Except that was in 2022. As you see from their own numbers, 2023 saw an enormous drop in sales.
gwpercle
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They don't report that publicly that I can find.
They do have an accounting accrual for warranty repairs. As of the fiscal year ending April 30th 2023 it was $1.67 million. But that's just their annual accrual and not the balance, or drawdown, of the accrual account. Sometimes companies carry a balance in that accrual account to cushion against a big warrant issue.
It's all in their annual report that I don't want to spend time analyzing in detail. I'm not an accountant.
Search their 10-K for the word "warranty".
The following table sets forth the change in accrued warranties, a portion of which is recorded as a non-current liability, in the fiscal years ended
April 30, 2023, 2022, and 2021 (in thousands):
Balance as of April 30, 2021 $ 5,693
Warranties issued and adjustments to provisions 1,910
Warranty claims (2,730 )
Balance as of April 30, 2022 4,873
Warranties issued and adjustments to provisions 1,496
Warranty claims (2,364 )
Balance as of April 30, 2023 $ 4,005
OP
First thanks for the input from everyone!
So, If we go with one million produced on average a 1% return would be 10,000 "units", for lack of a better word. If we go with an average cost of $200.00/return and with paper work, both internal and external, labor, parts, packaging and shipping it could well be more. That is $2,000,000.00 per year against the bottom line. The board would have the collective supervisors through plant/operations managers heads on pikes.
From this I make the assumption their return rate is below the decimal. For a company with over one million square feet of manufacturing between two sites, producing mechanical devices, is quite good...
This may be of little comfort to a person who just laid down hard earned money for a lemon but it has happened to all of us at one time or another.
Just making an attempt to keep things in perspective on a company that produces a product we have built an entire internet forum around quell some of the negative from other posts.
Thanks for reading my opinion.
So, If we go with one million produced on average a 1% return would be 10,000 "units", for lack of a better word. If we go with an average cost of $200.00/return and with paper work, both internal and external, labor, parts, packaging and shipping it could well be more. That is $2,000,000.00 per year against the bottom line. The board would have the collective supervisors through plant/operations managers heads on pikes.
From this I make the assumption their return rate is below the decimal. For a company with over one million square feet of manufacturing between two sites, producing mechanical devices, is quite good...
This may be of little comfort to a person who just laid down hard earned money for a lemon but it has happened to all of us at one time or another.
Just making an attempt to keep things in perspective on a company that produces a product we have built an entire internet forum around quell some of the negative from other posts.
Thanks for reading my opinion.
If you found it on the internet it MUST be true.
Warranty cost of $1.6 million on $479million in sales is less that 1/2 of 1% of revenue. Not really enough to cause management an issue. Like the man said, it sucks when you get a bad one, but unless a lot of people are just not filing warranty claims, the numbers aren't as bad as it might seem.
Yeah, $1.6 million isn't chump change, but ALL manufacturers have QC & warranty costs and less that 1/2 of 1% is pretty good.
I just looked at CZ annual report and they show approx $1.2million in warranty costs on a little over $650 million in sales. No breakdown for Colt only.
Yeah, $1.6 million isn't chump change, but ALL manufacturers have QC & warranty costs and less that 1/2 of 1% is pretty good.
I just looked at CZ annual report and they show approx $1.2million in warranty costs on a little over $650 million in sales. No breakdown for Colt only.
hkcavalier
US Veteran
Sounds like they're chasing the next big thing. Everyone got their inexpensive CCW gun. Far fewer people want a PCC or bullpup shotgun.
A portion of this may have been due to the moving of their semi-auto's plant. This year's numbers may be affected as well as production ramps up. Can't sell what you don't have!
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