Firearms maker Sturm, Ruger tumbles after flat Q1 sales

Shares of firearms maker Sturm, Ruger RGR.N down 10.9% at $36.21 on Thurs after qtrly results

RGR shares on course for biggest one-day pct drop since Nov 2, 2023, hit over two-month low

Southport, Connecticut-based firm late Weds posted Q1 sales of $135.7 mln vs $136.8 mln a year ago

Earnings of 46 cents/sh in the qtr were up from 40 cents in comp period in 2024

CEO Todd Seyfert said challenges in firearms market are clear and well-documented, pointing to retail analytics firm RetailBI's Q1 report of declining guns and rifles sales, and reduced checks in the Federal Bureau of Investigation's National Instant Criminal Background Checks System, or NICS

"Despite these headwinds, I’m proud to report that Ruger remained flat in sales, while staying profitable," Seyfert said in the statement

Shares of peer Smith & Wesson Brands SWBI.O down 2% on Thurs

On Feb 20, RGR shares jumped ~12% after co posted rising sales and earnings, and boosted its dividend

With move on the session, stock up 2% YTD