Sturm Ruger & Co Inc (NYSE:RGR)
$ 34.77 -0.11 (-0.32%) Market Cap: 583.82 Mil Enterprise Value: 489.61 Mil PE Ratio: 20.10 PB Ratio: 1.85 GF Score: 65/100
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Q2 2024 Sturm Ruger & Company Inc Earnings Call Transcript

Aug 01, 2024 / 01:00PM GMT
Release Date Price: $43.27 (-4.08%)

Key Points

Positve
  • Sturm Ruger & Co Inc (RGR) reported net sales of $130.8 million and diluted earnings of $0.47 per share for Q2 2024.
  • The company increased production by 18% in Q2 2024 despite a reduction in headcount.
  • Sturm Ruger & Co Inc (RGR) has a strong cash position with $106 million in cash and short-term investments and no debt.
  • The company returned $27.1 million to shareholders through dividends and share repurchases in the first half of 2024.
  • New product sales totaled $80 million, accounting for 31% of firearm sales in the first half of 2024.
Negative
  • Net sales and diluted earnings per share decreased compared to the corresponding period in 2023.
  • The firearms market experienced a decline in consumer demand, impacting overall sales.
  • The company had to implement a reduction in force to achieve greater efficiency and productivity.
  • July 2024 was a slow period for retail demand, with lower-priced items being the primary movers.
  • The company is not expecting a significant ramp-up in demand related to the upcoming presidential election.
Operator

Good day and thank you for standing by. Welcome to the Sturm Ruger Earnings Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Chris Killoy, President and CEO. Please go ahead.

Christopher Killoy
Sturm Ruger & Company Inc - President, Chief Executive Officer, Director

Good morning, and welcome to the Sturm Ruger & Company second quarter 2024 conference call. I'll ask Patricia Shepard, our Deputy General Counsel to read the caution on forward-looking statements. Tom Dineen, our Chief Financial Officer, will then give an overview of the second quarter 2024 financial results. And then I will discuss our operations and the market. After that, we'll get to your questions. Pat.

Patricia Shepard
Sturm Ruger & Company Inc - Deputy General Counsel

Thanks, Chris. I just want to remind everyone that statements made in the course of this meeting that state the company's or management's

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