Trump has been terrible for the gun industry
Illustration: Rebecca Zisser / Axios
Presidents Obama and Trump had very different views toward private gun ownership, but gun manufacturers may be pining for the one who was much more critical of their industry:
Remington Outdoors, the country's largest gun-maker, has become unprofitable in 2017. The privately-held company reports a $60.5 million net loss through October 1 on $467 million in revenue, compared to a $19.1 million gain on $644 million in revenue for the first nine months of 2016. It also reported a whopping 78% drop in EBITDA between the third quarters of 2016 and 2017, causing downward pressure on its bond prices.
Sturm Ruger revenue has fallen nearly 20% year-over-year, and 35% during the third quarter. It remains profitable, but that too has become much narrower.
American Outdoor Brands, which previously was known as Smith & Wesson, swung to a quarterly loss in the third quarter and experienced a 38% decrease in revenue.
Go deeper: Government statistics show a boom in gun manufacturing and sales beginning in 2009, with a particular peak in 2013 (due, perhaps, to unrecognized gun control fears in the wake of the December 2012 massacre at Sandy Hook Elementary School).