Sturm, Ruger & Company, Inc. Reports First Quarter Diluted Earnings of 46¢ Per Share and Declares Quarterly Dividend of 18¢ Per Share

April 30, 2025

Sturm, Ruger & Company, Inc. (NYSE-RGR) announced today that for the first quarter of 2025, net sales were $135.7 million and diluted earnings were 46¢ per share. For the corresponding period in 2024, net sales were $136.8 million and diluted earnings were 40¢ per share.

The Company also announced today that its Board of Directors declared a dividend of 18¢ per share for the first quarter for stockholders of record as of May 16, 2025, payable on May 30, 2025. This dividend varies each quarter because the Company pays a percentage of earnings rather than a fixed amount per share. This dividend is approximately 40% of net income.

Chief Executive Officer Todd W. Seyfert commented on the first quarter of 2025, "The challenges in the firearms market are clear and well-documented across the industry. According to RetailBI's Q1 2025 report, retail firearm unit sales declined 9.6% year-over-year, with revenue down 11.5%. Handguns, rifles, and shotguns were all under pressure, and even adjusted NICS checks declined by 4.2%. Despite these headwinds, I'm proud to report that Ruger remained flat in sales, while staying profitable. My mindset as CEO is that although the firearms industry may be cyclical, Ruger does not have to be, and our performance this quarter supports that.

That resilience is a direct result of our disciplined operations and strong new product pipeline. Consumer demand for the Ruger American Rifle Generation II, our Marlin lever-action rifles, and the RXM pistol developed with Magpul Industries contributed to our momentum. These products not only reinforce our commitment to quality but also continue to excite our loyal base, drive demand and elevate the entire portfolio of Ruger products."

Other observations on the quarter include:

• Sales of new products, including the RXM pistol, Super Wrangler revolver, Marlin lever-action rifles, and American Centerfire Rifle Generation II, represented $40.7 million or 31.6% of firearm sales in the first quarter of 2025. New product sales include only major new products that were introduced in the past two years.
• Compared to the first quarter of 2024, the Company's and distributors' finished goods inventories increased 17,900 units and decreased 20,100 units, respectively.
• Cash provided by operations during the first quarter of 2025 was $11.1 million. At March 29, 2025, our cash and short-term investments totaled $108.3 million. Our current ratio is 4.6 to 1 and we have no debt.
• In the first quarter of 2025, capital expenditures totaled $1.1 million. We expect our 2025 capital expenditures will increase from recent years and may exceed $30 million as we invest in new product introductions, expand capacity, upgrade our manufacturing capabilities and strengthen our facility infrastructure.
• The Company returned $7.0 million to its shareholders in the first quarter of 2025 through:
  • the payment of $4.0 million of quarterly dividends, and
  • $3.0 million through the repurchase of 79,200 shares of its common stock at an average cost of $37.74 per share.
• At March 29, 2025, stockholders' equity was $321.4 million, which equates to a book value of $19.39 per share, of which $6.53 per share was cash and short-term investments.

Mr. Seyfert discussed the Company's plans for moving forward, "Looking ahead, innovation remains our core focus. As I stated earlier, our robust pipeline of upcoming products is designed to energize the market, drive growth, and extend our brand reach. We have plans in the works for expanding the availability of key models, increasing the speed to market on our new product roadmaps, and offering more configurations of recently launched new models. In addition, as a U.S.-based manufacturer, we are uniquely positioned to navigate global trade disruptions. Our American-made products insulate us to a degree from current tariff and supply chain uncertainties, though we are monitoring areas where these costs may still have an effect. With that said, we continue to plan for growth, position ourselves for long-term market leadership, and aggressively manage costs across the business. We look forward to sharing more detail on these initiatives, and our roadmap for long-term growth, at the upcoming annual meeting on Thursday, May 29th at 9:00 AM."

Today, the Company filed its Quarterly Report on Form 10-Q for the first quarter of 2025. The financial statements included in this Quarterly Report on Form 10-Q are attached to this press release. - View Release

Tomorrow, May 1, 2025, Sturm, Ruger will host a webcast at 9:00 a.m. ET to discuss the first quarter operating results. Interested parties can listen to the webcast via this link or by visiting Ruger.com/corporate. Those who wish to ask questions during the webcast will need to pre-register prior to the meeting.

The Quarterly Report on Form 10-Q for the first quarter of 2025 is available on the SEC website at SEC.gov and the Ruger website at Ruger.com/corporate. Investors are urged to read the complete Quarterly Report on Form 10-Q to ensure that they have adequate information to make informed investment judgments.