Smith & Wesson, Sturm, Other Gun Stocks In Focus As US Reportedly Moves To Ease Firearm Restrictions

Wrapping up Q3 earnings, we look at the numbers and key takeaways for the leisure products stocks, including Polaris and its peers.

Leisure products cover a wide range of goods in the consumer discretionary sector. Maintaining a strong brand is key to success, and those who differentiate themselves will enjoy customer loyalty and pricing power while those who don’t may find themselves in precarious positions due to the non-essential nature of their offerings.

The 12 leisure products stocks we track reported a very strong Q3. As a group, revenues beat analysts’ consensus estimates by 3.8% while next quarter’s revenue guidance was in line.

Luckily, leisure products stocks have performed well with share prices up 10.7% on average since the latest earnings results.

Polaris

Founded in 1954, Polaris designs and manufactures high-performance off-road vehicles, snowmobiles, and motorcycles.

Polaris reported revenues of $1.86 billion, up 6.6% year on year. This print exceeded analysts’ expectations by 3.7%. Overall, it was a very strong quarter for the company with a beat of analysts’ EPS and EBITDA estimates.

Polaris delivered the weakest full-year guidance update of the whole group. Unsurprisingly, the stock is down 1.7% since reporting and currently trades at $69.95.

Best Q3: American Outdoor Brands

Spun off from Smith and Wesson in 2020, American Outdoor Brands is an outdoor and recreational products company that offers outdoor and shooting sports products but does not sell firearms themselves.

American Outdoor Brands reported revenues of $57.2 million, down 5% year on year, outperforming analysts’ expectations by 12.3%. The business had an incredible quarter with a beat of analysts’ EPS and EBITDA estimates.

American Outdoor Brands achieved the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 23.2% since reporting. It currently trades at $9.51.

Weakest Q3: Ruger

Founded in 1949, Ruger is an American manufacturer of firearms for the commercial sporting market.

Ruger reported revenues of $126.8 million, up 3.7% year on year, exceeding analysts’ expectations by 2.1%. Still, it was a softer quarter as it posted a significant miss of analysts’ EBITDA and EPS estimates.

As expected, the stock is down 14.1% since the results and currently trades at $37.74.

Read our full analysis of Ruger’s results here.

Harley-Davidson

Founded in 1903, Harley-Davidson is an American motorcycle manufacturer known for its heavyweight motorcycles designed for cruising on highways.

Harley-Davidson reported revenues of $1.34 billion, up 16.5% year on year. This print topped analysts’ expectations by 2.8%. It was a stunning quarter as it also put up a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Harley-Davidson achieved the fastest revenue growth among its peers. The stock is down 24.2% since reporting and currently trades at $20.54.

Read our full, actionable report on Harley-Davidson here, it’s free.

Clarus

Initially a financial services business, Clarus designs, manufactures, and distributes outdoor equipment and lifestyle products.

Clarus reported revenues of $69.35 million, up 3.3% year on year. This number surpassed analysts’ expectations by 4.3%. Taking a step back, it was a satisfactory quarter as it also recorded an impressive beat of analysts’ adjusted operating income estimates but EPS in line with analysts’ estimates.

The stock is up 14.7% since reporting and currently trades at $3.74.

Read our full, actionable report on Clarus here, it’s free.

What Happened?

A number of stocks jumped in the afternoon session after investors wagered geopolitical tension would be contained following the U.S. military's operation in Venezuela, with the Dow hitting a fresh record. 

Sentiment remained firmly "risk-on" for early 2026, with Wall Street prioritizing domestic economic strength over foreign turbulence. Analysts noted that while the event raises short-term supply questions, the market largely viewed the potential stabilization of Venezuela's vast oil reserves as a long-term economic positive.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

• Education Services company Universal Technical Institute jumped 11.1%. Is now the time to buy Universal Technical Institute? Access our full analysis report here, it’s free for active Edge members.
• Travel and Vacation Providers company Delta jumped 4.8%. Is now the time to buy Delta? Access our full analysis report here, it’s free for active Edge members.
• Travel and Vacation Providers company Choice Hotels jumped 3.6%. Is now the time to buy Choice Hotels? Access our full analysis report here, it’s free for active Edge members.
• Leisure Products company Ruger jumped 3.1%. Is now the time to buy Ruger? Access our full analysis report here, it’s free for active Edge members.
• Specialized Consumer Services company Mister Car Wash jumped 4.4%. Is now the time to buy Mister Car Wash? Access our full analysis report here, it’s free for active Edge members.

Zooming In On Universal Technical Institute (UTI)

Universal Technical Institute’s shares are quite volatile and have had 17 moves greater than 5% over the last year. But moves this big are rare even for Universal Technical Institute and indicate this news significantly impacted the market’s perception of the business.

The previous big move we wrote about was 28 days ago when the stock dropped 3% on the news that new economic data intensified market agitation ahead of the Federal Reserve's policy decision later in the week. 

According to the Bureau of Economic Analysis, real consumer spending, which is adjusted for inflation, stalled in September, marking its weakest performance in four months. Compounding the issue, the University of Michigan's consumer sentiment index, while slightly improved, remained gloomy, with one economist noting that many households faced affordability issues forcing them to be more cautious. This pressure on consumers was reflected in the market, where the Consumer Discretionary sector was among the leading decliners. The broader economic picture showed other signs of caution, as new orders for U.S. factory goods also increased less than anticipated. These indicators collectively suggest a widening slowdown across both consumer and industrial sectors as the Federal Reserve prepared to announce its final policy actions for the year.

Universal Technical Institute is up 10.4% since the beginning of the year, but at $27.44 per share, it is still trading 23.6% below its 52-week high of $35.90 from June 2025. Investors who bought $1,000 worth of Universal Technical Institute’s shares 5 years ago would now be looking at an investment worth $4,348.

Wrapping up Q3 earnings, we look at the numbers and key takeaways for the leisure products stocks, including American Outdoor Brands and its peers.

Leisure products cover a wide range of goods in the consumer discretionary sector. Maintaining a strong brand is key to success, and those who differentiate themselves will enjoy customer loyalty and pricing power while those who don’t may find themselves in precarious positions due to the non-essential nature of their offerings.

The 12 leisure products stocks we track reported a very strong Q3. As a group, revenues beat analysts’ consensus estimates by 3.8% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Best Q3: American Outdoor Brands

Spun off from Smith and Wesson in 2020, American Outdoor Brands is an outdoor and recreational products company that offers outdoor and shooting sports products but does not sell firearms themselves.

American Outdoor Brands reported revenues of $57.2 million, down 5% year on year. This print exceeded analysts’ expectations by 12.3%. Overall, it was an incredible quarter for the company with a beat of analysts’ EPS and EBITDA estimates.

Brian Murphy, President and CEO, said, "Our commitment to innovation, paired with disciplined execution of our long-term strategy to enter new outdoor categories, is fueling the strength of our growth brands and the engagement we are seeing from consumers and retail partners. Pull-through of our products at retail was notably strong during the quarter, with total POS up 4% year-over-year. Together, these factors enabled us to deliver second-quarter results that surpassed our expectations, even amid a dynamic retail backdrop.

American Outdoor Brands scored the biggest analyst estimates beat but had the slowest revenue growth of the whole group. Unsurprisingly, the stock is up 7.4% since reporting and currently trades at $8.30.

Harley-Davidson

Founded in 1903, Harley-Davidson is an American motorcycle manufacturer known for its heavyweight motorcycles designed for cruising on highways.

Harley-Davidson reported revenues of $1.34 billion, up 16.5% year on year, outperforming analysts’ expectations by 2.8%. The business had a stunning quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Harley-Davidson delivered the fastest revenue growth among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 22.7% since reporting. It currently trades at $20.96.

Weakest Q3: Ruger

Founded in 1949, Ruger is an American manufacturer of firearms for the commercial sporting market.

Ruger reported revenues of $126.8 million, up 3.7% year on year, exceeding analysts’ expectations by 2.1%. Still, it was a softer quarter as it posted a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.

As expected, the stock is down 29.1% since the results and currently trades at $31.18.

Read our full analysis of Ruger’s results here.

MasterCraft

Started by a waterskiing instructor, MasterCraft specializes in designing, manufacturing, and selling sport boats.

MasterCraft reported revenues of $69 million, up 5.6% year on year. This print surpassed analysts’ expectations by 3%. Overall, it was a very strong quarter as it also put up a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

MasterCraft delivered the highest full-year guidance raise among its peers. The stock is down 7.6% since reporting and currently trades at $19.82.

Read our full, actionable report on MasterCraft here, it’s free for active Edge members.

Malibu Boats

Founded in California in 1982, Malibu Boats is a manufacturer of high-performance sports boats and luxury watercrafts.

Malibu Boats reported revenues of $194.7 million, up 13.5% year on year. This result beat analysts’ expectations by 4.3%. It was an exceptional quarter as it also recorded a beat of analysts’ EPS estimates and an impressive beat of analysts’ adjusted operating income estimates.

The stock is down 10.4% since reporting and currently trades at $29.19.

Read our full, actionable report on Malibu Boats here, it’s free for active Edge members.

The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how leisure products stocks fared in Q3, starting with Ruger .

Leisure products cover a wide range of goods in the consumer discretionary sector. Maintaining a strong brand is key to success, and those who differentiate themselves will enjoy customer loyalty and pricing power while those who don’t may find themselves in precarious positions due to the non-essential nature of their offerings.

The 12 leisure products stocks we track reported a very strong Q3. As a group, revenues beat analysts’ consensus estimates by 3.8% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Weakest Q3: Ruger

Founded in 1949, Ruger is an American manufacturer of firearms for the commercial sporting market.

Ruger reported revenues of $126.8 million, up 3.7% year on year. This print exceeded analysts’ expectations by 2.1%. Despite the top-line beat, it was still a softer quarter for the company with a significant miss of analysts’ EBITDA and EPS estimates.

Unsurprisingly, the stock is down 29.1% since reporting and currently trades at $31.18.

Read our full report on Ruger here, it’s free for active Edge members.

Best Q3: American Outdoor Brands

Spun off from Smith and Wesson in 2020, American Outdoor Brands is an outdoor and recreational products company that offers outdoor and shooting sports products but does not sell firearms themselves.

American Outdoor Brands reported revenues of $57.2 million, down 5% year on year, outperforming analysts’ expectations by 12.3%. The business had an incredible quarter with a beat of analysts’ EPS and EBITDA estimates.

American Outdoor Brands achieved the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 7.4% since reporting. It currently trades at $8.30.

Latham

Started as a family business, Latham is a global designer and manufacturer of in-ground residential swimming pools and related products.

Latham reported revenues of $161.9 million, up 7.6% year on year, falling short of analysts’ expectations by 1.8%. It was a mixed quarter as it posted an impressive beat of analysts’ adjusted operating income estimates but a significant miss of analysts’ EPS estimates.

Latham delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 12.3% since the results and currently trades at $6.31.

Read our full analysis of Latham’s results here.

Smith & Wesson

With a history dating back to 1852, Smith & Wesson is a firearms manufacturer known for its handguns and rifles.

Smith & Wesson reported revenues of $124.7 million, down 3.9% year on year. This number surpassed analysts’ expectations by 0.8%. It was an exceptional quarter as it also put up a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

The stock is up 12.7% since reporting and currently trades at $10.05.

Read our full, actionable report on Smith & Wesson here, it’s free for active Edge members.

Acushnet

Producer of the acclaimed Titleist Pro V1 golf ball, Acushnet is a design and manufacturing company specializing in performance-driven golf products.

Acushnet reported revenues of $657.7 million, up 6% year on year. This print beat analysts’ expectations by 3.8%. Overall, it was a strong quarter as it also produced an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ EBITDA estimates.

The stock is up 8.9% since reporting and currently trades at $81.96.

Read our full, actionable report on Acushnet here, it’s free for active Edge members.

Let’s dig into the relative performance of Latham and its peers as we unravel the now-completed Q3 leisure products earnings season.

Leisure products cover a wide range of goods in the consumer discretionary sector. Maintaining a strong brand is key to success, and those who differentiate themselves will enjoy customer loyalty and pricing power while those who don’t may find themselves in precarious positions due to the non-essential nature of their offerings.

The 12 leisure products stocks we track reported a very strong Q3. As a group, revenues beat analysts’ consensus estimates by 3.8% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Latham

Started as a family business, Latham is a global designer and manufacturer of in-ground residential swimming pools and related products.

Latham reported revenues of $161.9 million, up 7.6% year on year. This print fell short of analysts’ expectations by 1.8%. Overall, it was a mixed quarter for the company with an impressive beat of analysts’ adjusted operating income estimates but a significant miss of analysts’ EPS estimates.

Commenting on the results, Scott Rajeski, President and CEO, said, “In the third quarter, we continued to execute effectively on our strategic priorities – driving the awareness and adoption of fiberglass pools and autocovers, strengthening our position in the Sand State markets, and expanding margins through lean manufacturing, value engineering, and accretive acquisitions.

Latham delivered the weakest performance against analyst estimates of the whole group. Unsurprisingly, the stock is down 9.9% since reporting and currently trades at $6.49.

Best Q3: American Outdoor Brands

Spun off from Smith and Wesson in 2020, American Outdoor Brands is an outdoor and recreational products company that offers outdoor and shooting sports products but does not sell firearms themselves.

American Outdoor Brands reported revenues of $57.2 million, down 5% year on year, outperforming analysts’ expectations by 12.3%. The business had an incredible quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

American Outdoor Brands scored the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 8.1% since reporting. It currently trades at $8.35.

Weakest Q3: Ruger

Founded in 1949, Ruger is an American manufacturer of firearms for the commercial sporting market.

Ruger reported revenues of $126.8 million, up 3.7% year on year, exceeding analysts’ expectations by 2.1%. Still, it was a softer quarter as it posted a significant miss of analysts’ EBITDA and EPS estimates.

As expected, the stock is down 27.5% since the results and currently trades at $31.87.

Read our full analysis of Ruger’s results here.

Harley-Davidson

Founded in 1903, Harley-Davidson is an American motorcycle manufacturer known for its heavyweight motorcycles designed for cruising on highways.

Harley-Davidson reported revenues of $1.34 billion, up 16.5% year on year. This print surpassed analysts’ expectations by 2.8%. It was a stunning quarter as it also produced a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Harley-Davidson scored the fastest revenue growth among its peers. The stock is down 21.7% since reporting and currently trades at $21.24.

Read our full, actionable report on Harley-Davidson here, it’s free for active Edge members.

Clarus

Initially a financial services business, Clarus designs, manufactures, and distributes outdoor equipment and lifestyle products.

Clarus reported revenues of $69.35 million, up 3.3% year on year. This result beat analysts’ expectations by 4.3%. More broadly, it was a satisfactory quarter as it also produced an impressive beat of analysts’ adjusted operating income estimates but EPS in line with analysts’ estimates.

The stock is up 4.3% since reporting and currently trades at $3.40.

Read our full, actionable report on Clarus here, it’s free for active Edge members.

As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at leisure products stocks, starting with YETI .

Leisure products cover a wide range of goods in the consumer discretionary sector. Maintaining a strong brand is key to success, and those who differentiate themselves will enjoy customer loyalty and pricing power while those who don’t may find themselves in precarious positions due to the non-essential nature of their offerings.

The 12 leisure products stocks we track reported a very strong Q3. As a group, revenues beat analysts’ consensus estimates by 3.8% while next quarter’s revenue guidance was in line.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

YETI

Founded by two brothers from Texas, YETI specializes in durable outdoor goods including coolers, drinkware, and other gear tailored to adventure enthusiasts.

YETI reported revenues of $487.8 million, up 1.9% year on year. This print exceeded analysts’ expectations by 1.6%. Overall, it was a satisfactory quarter for the company with a decent beat of analysts’ EBITDA estimates.

Matt Reintjes, President and Chief Executive Officer, commented, “Our third quarter results continue to show the strength of YETI and the positive momentum of our long-term growth strategy. Anchored in accelerating product innovation, a powerful and growing global brand, and expanding international reach, we are seeing meaningful wins across all three strategic growth pillars. As we look beyond 2025, continued execution against these three pillars sets YETI on the path to a long-term topline growth range of high-single-digits to low-double-digits."

Interestingly, the stock is up 31.7% since reporting and currently trades at $43.97.

Best Q3: American Outdoor Brands

Spun off from Smith and Wesson in 2020, American Outdoor Brands is an outdoor and recreational products company that offers outdoor and shooting sports products but does not sell firearms themselves.

American Outdoor Brands reported revenues of $57.2 million, down 5% year on year, outperforming analysts’ expectations by 12.3%. The business had an incredible quarter with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

American Outdoor Brands pulled off the biggest analyst estimates beat among its peers. The market seems happy with the results as the stock is up 8.1% since reporting. It currently trades at $8.35.

Weakest Q3: Ruger

Founded in 1949, Ruger is an American manufacturer of firearms for the commercial sporting market.

Ruger reported revenues of $126.8 million, up 3.7% year on year, exceeding analysts’ expectations by 2.1%. Still, it was a softer quarter as it posted a significant miss of analysts’ EBITDA and EPS estimates.

As expected, the stock is down 27.5% since the results and currently trades at $31.87.

Read our full analysis of Ruger’s results here.

MasterCraft

Started by a waterskiing instructor, MasterCraft specializes in designing, manufacturing, and selling sport boats.

MasterCraft reported revenues of $69 million, up 5.6% year on year. This print beat analysts’ expectations by 3%. Overall, it was a very strong quarter as it also produced a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

MasterCraft delivered the highest full-year guidance raise among its peers. The stock is down 8.5% since reporting and currently trades at $19.64.

Read our full, actionable report on MasterCraft here, it’s free for active Edge members.

Polaris

Founded in 1954, Polaris designs and manufactures high-performance off-road vehicles, snowmobiles, and motorcycles.

Polaris reported revenues of $1.86 billion, up 6.6% year on year. This number topped analysts’ expectations by 3.7%. It was a very strong quarter as it also recorded a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Polaris had the weakest full-year guidance update among its peers. The stock is down 2% since reporting and currently trades at $69.73.

Read our full, actionable report on Polaris here, it’s free for active Edge members.