Analyst had eps at 1.16 per share. They missed earnings and revenue by a too big margin to explain coherently. A miss like this needs to be called out and exposed. You can be wrong, have a bias, but to not understand the story...is..really embarrassing.
Sturm Ruger said quarterly net income rose to $32.3 million, or $1.63 per share, from $18.0 million, or 91 cents per share, a year earlier.
Analysts on average had expected a profit of $1.18 per share, according to Thomson Reuters I/B/E/S.
Revenue rose 50 percent to $179.5 million in the quarter ended June 29, above market estimates of $154.7 million.
Looking Forward:" Analysts have a more negative outlook for the company’s next-quarter performance "
I agree. $1.63 vs. $1.16 is too wide, especially for a company that is relatively simple with a straight forward balance sheet. It is like the estimates are for a completely unrelated company. That was my initial reaction when I saw the headline.
Such a wide margin between estimates vs actual only happens to companies in the financials space, which is understandable because they have all these financial engineering accruals provisions schemes.
It's a stupid call that should get him fired. He knows they reported 1.20 EPS in the first quarter and they are running flat out against a huge backlog and ramping up production steadily, as well as raising prices and he predicts a lower EPS for the 2nd quarter, and very little to no Revenue gain??? Deny, deny, deny. There were also some shorts around here who have since scurried into the cracks in the woodwork, like imarugerfan, who insisted stridently that the orders in the backlog would most certainly be cancelled, despite Fifer's advisement that they needed to get inventories up to a level that would provide a cushion against future surges.
Agree one hundred percent. Been I. This stock three years now and watched all of the bs go down. Been buying during non sense dips while selling a little along the way. Regret not buying more before earnings. Where dk you think this stock goes during the next few days. I'm thinkin to 56 sit there untilthe divi and then it will slowly sell off as it always does when holded s over react to nonsense.