Sturm Ruger Stock Is Down on Huge Q3 Earnings Miss

Sturm Ruger & Company stock (NYSE:RGR) was down late in the day Wednesday as the company reported its latest quarterly earnings results after hours, which were below what analysts were calling for in the earnings front by a considerable margin.

Sturm Ruger StockThe firearm manufacturing company said that for its third quarter of fiscal 2018, it brought in a profit of $9.21 million, or 52 cents per share. This figure is weaker than what the company amassed during its year-ago quarter of $9.37 million, or 53 cents per share.

Analysts were calling for Sturm Ruger & Company to bring in earnings of 92 cents per share, according to data compiled by Thomson Reuters when excluding special items. The company added that for its third quarter of the fiscal year, it brought in revenue of $114.95 million, marking a 9.7% increase compared to its $104.82 million from its third quarter of fiscal 2017.

The company added that today, its board of directors declared a dividend of 21 cents per share for its third quarter for stockholders of record as of November 16, 2018, which is payable to them on November 30, 2018.

RGR stock is down about 0.7% after the bell as the company’s quarterly earnings results fell well short of what the Wall Street consensus estimate was calling for. RGR stock declined about 3.3% during regular trading hours in anticipation of the company’s quarterly results.

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