Sturm, Ruger & Company, Inc. ( (RGR) ) has released its Q4 earnings. Here is a breakdown of the information Sturm, Ruger & Company, Inc. presented to its investors.
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Sturm, Ruger & Company, Inc. is a leading American manufacturer of firearms for the commercial sporting market, known for its rugged and reliable products under the Ruger and Marlin brands. Celebrating over 75 years in the industry, the company is committed to corporate and community responsibility, embodying the motto ‘Arms Makers for Responsible Citizens’.
In its latest earnings report, Sturm, Ruger & Company, Inc. announced a decline in overall annual net sales and earnings for 2024 compared to the previous year, with net sales of $535.6 million and diluted earnings of $1.77 per share. However, the company showed resilience with a strong fourth quarter, achieving higher sales and earnings than the same period in 2023. The board declared a dividend of 24¢ per share for the fourth quarter.
Key takeaways from the report include new product introductions contributing significantly to sales, with new products accounting for 32% of firearms sales in 2024. The company’s disciplined approach and focus on innovation helped offset market challenges, such as a 4% decrease in adjusted NICS background checks. Sturm, Ruger ended the year with a robust balance sheet, remaining debt-free and holding substantial cash reserves.
The company also highlighted its continued investment in product development and manufacturing facilities, with capital expenditures for 2024 totaling $20.8 million. Additionally, Sturm, Ruger returned $46.2 million to shareholders through dividends and share repurchases. The upcoming CEO transition is expected to be smooth, with Todd Seyfert set to take the helm in early 2025.
Looking ahead, Sturm, Ruger & Company, Inc. remains optimistic about its future, supported by a strong financial position, a commitment to innovation, and a diverse product lineup. The company aims to continue delivering value to shareholders and exciting new products to consumers as it navigates the ebbs and flows of the firearms market.
