Core Viewpoint - Sturm, Ruger & Company, Inc. held its Q3 2024 earnings conference call, where key executives discussed financial results and operational insights. Group 1: Company Overview - Christopher Killoy, President and CEO, introduced the conference call and outlined the agenda, which included financial results and market operations [3]. - Kevin Reid, General Counsel, provided a caution regarding forward-looking statements, emphasizing that actual results may differ from projections [4]. Group 2: Financial Results - Tom Dineen, Chief Financial Officer, was set to present an overview of the third quarter 2024 financial results, indicating a structured approach to financial reporting [3].

Financial Performance - For Q3 2024, net sales were $122.3 million, a slight increase from $120.9 million in Q3 2023, while diluted earnings decreased to 28¢ per share from 42¢ per share[1][2] - For the first nine months of 2024, net sales totaled $389.9 million, down from $413.2 million in the same period of 2023, with diluted earnings decreasing to $1.15 per share from $2.13 per share[2] - Net firearms sales for the three months ended September 30, 2024, were $121,512 thousand, a slight increase of 0.95% compared to $120,368 thousand for the same period in 2023[17] - Total net sales for the nine months ended September 28, 2024, were $389,868 thousand, down 5.6% from $413,150 thousand for the same period in 2023[17] - Gross profit for the three months ended September 30, 2024, was $22,672 thousand, a decrease of 8.4% from $24,728 thousand in the same period last year[17] - Operating income for the nine months ended September 28, 2024, was $20,245 thousand, down 51.5% from $41,762 thousand for the same period in 2023[17] - EBITDA for the three months ended September 28, 2024, was $9,938 thousand, representing an EBITDA margin of 8.1%, compared to 11.0% in the same period last year[22] - Net income for the nine months ended September 28, 2024, was $20,086 thousand, a decrease of 47.2% from $37,966 thousand for the same period in 2023[18] Cash Flow and Investments - Cash provided by operations during the first nine months of 2024 was $35.5 million, with cash and short-term investments totaling $96.0 million as of September 28, 2024[7] - Cash provided by operating activities for the nine months ended September 28, 2024, was $35,483 thousand, significantly up from $17,298 thousand in the same period last year[18] - Cash and cash equivalents at the end of the period were $7,522 thousand, down from $13,559 thousand at the end of the same period last year[18] - Capital expenditures for the first nine months of 2024 were $17.2 million, with expectations to reach approximately $20 million for the full year[8] Shareholder Returns - The company declared a quarterly dividend of 11¢ per share, which is approximately 40% of net income, payable on November 27, 2024[3] - The company returned $39.3 million to shareholders in the first nine months of 2024 through dividends and share repurchases[8] - The company repurchased common stock amounting to $29,355 thousand during the financing activities[18] Inventory and Sales Trends - Estimated unit sell-through from independent distributors to retailers increased by 4% in the first nine months of 2024 compared to the prior year[5] - Sales of new products accounted for $113.3 million, representing 31.2% of firearm sales in the first nine months of 2024[6] - Finished goods inventories decreased by 26,500 units, while distributors' inventories decreased by 98,600 units compared to Q3 2023[7] Stockholders' Equity - Stockholders' equity as of September 28, 2024, was $314.9 million, equating to a book value of $18.76 per share[9] Earnings Per Share - Basic earnings per share for the three months ended September 30, 2024, were $0.28, down from $0.42 in the same period last year[17]

With markets near record highs, it gets more difficult to find reasonably priced shares that may provide satisfying long-term value. My quest for hunting for bargains has led me to what others refer to as sin stocks like Philipp is a seasoned value investor with nearly 20 years of experience in the field. He takes a global approach to investment opportunities, seeking out undervalued companies that offer a significant margin of safety, leading to attractive dividend yields and returns. While he does not lim ...

Financial Data and Key Metrics - Net sales for Q2 2024 were $130.8 million, down from $142.8 million in Q2 2023 [5] - Diluted earnings per share for Q2 2024 were $0.47, compared to $0.91 in Q2 2023 [5] - For the first half of 2024, net sales were $267.6 million, down from $292.3 million in the same period in 2023 [5] - Diluted earnings per share for the first half of 2024 were $0.87, compared to $1.72 in the first half of 2023 [5] - Cash and short-term investments totaled $106 million as of June 29, 2024 [6] - The company generated $26.1 million in cash from operations in the first half of 2024 and reinvested $10.4 million in capital expenditures [6] Business Line Performance - New product sales accounted for $80 million or 31% of firearm sales in the first half of 2024 [10] - Recently introduced products such as the American Rifle Generation II, Marlin 1895 Dark Series, and LC Carbine Chambered in 45 auto drove distributor sell-through [9] - The company plans to increase production in the second half of 2024 to replenish inventories, especially for new products [10] Market Performance - Estimated unit sell-through of products from independent distributors to retailers increased by 1% in both Q2 and the first half of 2024 compared to the prior year [8] - NICS background checks, adjusted by the National Shooting Sports Foundation, decreased by 8% in Q2 and 6% in the first half of 2024 [8] Company Strategy and Industry Competition - The company is focused on designing, engineering, and manufacturing innovative new products, with new product sales contributing significantly to overall sales [10] - The company has implemented cost reduction initiatives and increased production by 18% in Q2 2024, with further improvements expected in the second half of the year [11] - The company's disciplined pricing and promotion strategy aims to enhance long-term performance and promote consistency in the distribution channel [11] Management Commentary on Operating Environment and Future Outlook - Management noted that consumer demand in the firearms market has declined compared to last year, but demand for certain products remains consistent [8] - The company expects to leverage fixed costs and improve margins through increased production in the second half of 2024 [10] - Management is not banking on a significant demand spike related to the upcoming presidential election but is prepared to meet any unexpected increase in demand [19] Other Important Information - The company returned $27.1 million to shareholders in the first half of 2024 through dividends and share repurchases [7] - The Board of Directors declared a $0.19 per share quarterly dividend, payable on August 30, 2024 [7] - The company's current cash balance remains above $100 million, and it has no debt [6][7] Q&A Session Summary Question: ASPs and Backlog - The backlog is primarily driven by Marlin lever action rifles and Ruger American Generation II rifles, which are at a higher price point compared to incoming orders that include 75th-anniversary models [13] Question: Demand for Lower-Priced Items - The mix of products shipped in Q2 2024 was strong but biased towards lower-priced items, particularly 75th-anniversary models, which were priced sharply to ensure velocity in the market [14][15] Question: Margin Outlook - Margin improvements are expected to be driven by cost reduction initiatives and increased production, which will help leverage fixed costs [16] Question: July Demand - July demand remained slow, with lower-priced items and hard-to-get items driving sales, reflecting the cyclical and seasonal nature of the firearms industry [17][18] Question: New Product Launches - The company plans to continue launching new products in the second half of 2024 and does not intend to slow down product introductions despite the challenging industry environment [20][21][22] Question: Election Impact on Demand - The company is not expecting a significant demand spike related to the upcoming presidential election but is prepared to meet any unexpected increase in demand [19]

EXHIBIT 99.1 1 LACEY PLACE, SOUTHPORT, CT 06890 U.S.A. - (203) 259-7843 - www.ruger.com · RGR FOR IMMEDIATE RELEASE STURM, RUGER & COMPANY, INC. REPORTS SECOND QUARTER DILUTED EARNINGS OF 47¢ PER SHARE AND DECLARES QUARTERLY DIVIDEND OF 19¢ PER SHARE SOUTHPORT, CONNECTICUT, July 31, 2024--Sturm, Ruger & Company, Inc. (NYSE-RGR) announced today that for the second quarter of 2024, net sales were $130.8 million and diluted earnings were 47¢ per share. For the corresponding period in 2023, net sales were $142. ...

Thank you for standing by, and welcome to Sturm, Ruger's First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-andanswer session. [Operator Instructions]. In the first quarter of 2024, we implemented a reduction in force that impacted about 80 of our employees and resulted in a severance expense of $1.5 million. This charge reduced earnings per share by $0.07. Chris will provide further commentary on th ...

EXHIBIT 99.1 FOR IMMEDIATE RELEASE STURM, RUGER & COMPANY, INC. REPORTS FIRST QUARTER DILUTED EARNINGS OF 40¢ PER SHARE AND DECLARES QUARTERLY DIVIDEND OF 16¢ PER SHARE SOUTHPORT, CONNECTICUT, May 7, 2024--Sturm, Ruger & Company, Inc. (NYSE-RGR) announced today that for the first quarter of 2024, net sales were $136.8 million and diluted earnings were 40¢ per share. For the corresponding period in 2023, net sales were $149.5 million and diluted earnings were 81¢ per share. The Company also announced today t ...

Sturm, Ruger & Company, Inc. (NYSE:RGR) Q4 2023 Earnings Conference Call February 22, 2024 9:00 AM ET Company Participants Christopher Killoy - President and Chief Executive Officer Kevin Reid - General Counsel Thomas Dineen - Senior Vice President-Finance, Treasurer and Chief Financial Officer Conference Call Participants Mark Smith - Lake Street Ryan Hamilton - Morgan Dempsey Rommel Dionisio - Aegis Capital Operator Thank you for standing by and welcome to this Sturm, Ruger Fourth Quarter 2023 Earnings Co ...

EXHIBIT 99.1 FOR IMMEDIATE RELEASE STURM, RUGER & COMPANY, INC. REPORTS 2023 DILUTED EARNINGS OF $2.71 PER SHARE AND DECLARES DIVIDEND OF 23¢ PER SHARE SOUTHPORT, CONNECTICUT, February 21, 2024--Sturm, Ruger & Company, Inc. (NYSE-RGR) announced today that for 2023 the Company reported net sales of $543.8 million and diluted earnings of $2.71 per share, compared with net sales of $595.8 million and diluted earnings of $4.96 per share in 2022. For the fourth quarter of 2023, net sales were $130.6 million and ...

SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K FOR ANNUAL AND TRANSITION REPORTS PURSUANT TO SECTION 13 OR 15(d) THE SECURITIES EXCHANGE ACT OF 1934 (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ___________ Commission File Number 0-4776 STURM, RUGER & CO ...