Demand for guns from Sturm, Ruger & Co. slowed in the first quarter, according to the company's earnings results released on Monday.
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STURM RUGER: Gun demand was unusually strong before the election, but now it's slumping (RGR)
Demand for guns from Sturm, Ruger & Co. slowed in the first quarter, according to the company's earnings results.
U.S. President Donald Trump delivers remarks at the National Rifle Association (NRA) Leadership Forum at the Georgia World Congress Center in Atlanta, Georgia, U.S. April 28, 2017.
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The firearms-maker said sell-through of its products from independent distributors to retailers fell 7% after "
Gun demand rose as then-Democratic presidential candidate Hillary Clinton led in the polls. Some prospective owners believed that tighter regulations would make it harder to buy guns in the future, prompting them to buy sooner rather than later.
But those fears were calmed after the election, and demand for guns has subsequently cooled.
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Outgoing CEO
Sturm Ruger reported a 3% decrease in net sales to $167.4 million from the first quarter of 2016. Its diluted earnings per share were unchanged at $1.21, but higher than what analysts had forecast.
Its shares rose 4% in after-hours trading.
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