Americans’ Pre-Election Gun Buying Binge Helps Ruger’s Profit Jump Over 500%

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Ruger-57 5.7x28mm pistol

Ruger-57 (Jeremy S. for TTAG)

Sturm, Ruger’s revenue was up 53% in its most recent fiscal quarter and earnings jumped more than 500%. It seems that Americans are well aware of societal factors making everyday life less safe and are extremely eager to ensure they’re well equipped to protect themselves and their families.

Rommel Dionisio, gun industry analyst for Aegis Capital, said in a note to investors that Sturm, Ruger’s strong sales were due to “increased consumer concerns regarding personal safety and self-defense as a result of recent civil unrest, widespread protests, and calls for reduction in funding for various state and municipal police departments.”

He said that Sturm, Ruger, as a leading producer of firearms, was “naturally well positioned to benefit from such overall industry trends.”

Firearms retailers say that new buyers, including women and senior citizens, are buying up guns designed for self-defense, particularly small, compact, semiautomatic pistols, like the LCP line of pistols from Ruger. Ammunition is selling out across the country, leaving shelves bare of bullets.

– Aaron Smith in Gun Sales Strong Ahead Of Election Day, Says Sturm, Ruger

Source: https://www.thetruthaboutguns.com/americans-pre-election-gun-buying-binge-helps-rugers-profit-jump-over-500/

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