Guns

The Largest Gun Maker is No Longer Profitable

JM Ashby
Written by JM Ashby

Remmington, the largest gun maker in America, is now bleeding money because guns just aren't selling the way they did under President Obama when Americans bought enough guns to equip several armies.

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.

There are so many implications to process here.

You know, as effective as Democratic presidents are for gun sales, perhaps the National Rifle Association (NRA) should support Democratic candidates.

Dropping tens of millions of dollars to elect Trump clearly hasn't paid off for them. Wouldn't it be more strategic for them to publicly accuse Democrats of being gun-grabbers while privately helping them win? At the very least, they should probably consider not helping Republicans.

It's not as if President Obama was ever really going to snatch up all the guns. He never even called for it nor did he have the authority to do it. But just the idea of the black president taking guns away from the white man was enough to propel gun sales to record levels.

Suckers.

  • muselet

    I can’t wait until the Rs decide the US firearms industry needs loan guarantees to remain in business—you know, exactly the same thing the Rs decried as UNCONSTITUTIONAL SOCIALISTICAL BAILOUTS! when the Obama administration kept the US car industry from collapsing.

    I wish I were joking.

    –alopecia

    • JMAshby

      I could definitely see this happening.

  • Aynwrong

    One of the companies that fund the NRA and the GOP to enable the massacre of American citizens for the sake of increased profits are no longer profitable?

    Cry me a river.

  • 1933john

    “There will always be those that are fucked-up in the head”
    – Sigmund John 2017

  • Username1016

    I just had a brilliant idea. I just heard that the bottom is dropping out of retail, and it’s NOT because online shopping has grabbed all the market share, it’s because predatory capitalists like that joint Mitt Romney used to work for (Baines Capital?) are loading them up with debt and then pulling the rug out from under them. What if a bunch of left-leaning billionaires (there are some) did the same to the gun manufacturers? How fun would that be!

    • That’s what is destroying Sears and Toy-R-Us