Ruger stock fluctuates after weak third quarter earnings

By Christen Smith

Ruger CEO Chris Killoy at a gun shop talking shop with Ruger fans. Photograph taken May 13, 2017. (Photo: Ruger/Facebook)
Share prices for Sturm, Ruger and Co. fluctuated in the hours after the gun maker reported weak third quarter earnings — an expected result as the industry recalibrates under a new gun-friendly presidential administration.
Stocks fell as much as 9 percent in after hours trading Tuesday, but appeared on the mend again by Wednesday afternoon, rising nearly 4 percent to $51.25 per share.
Ruger raked in $9.3 million in profits in its third quarter — a 53 percent decline over 2016, the biggest on record for gun sales as consumer fears of impending regulations stoked demand. It’s the second double digit loss for Ruger this year.
Chief Executive Officer Christopher Killoy acknowledged the earnings slide in the company’s financial filings Tuesday. The dismal results come after a strong first quarter for the company, which reported $167.4 million in sales — a 3 percent decline over first quarter 2016. Sales fell more than 35 percent to $104.8 million in the third quarter, according to the company’s earnings reports. Overall, Ruger’s gun sales trail last year by nearly 20 percent.
Killoy told shareholders in May the company “has a consistent game

Source: Guns.com