Sturm, Ruger & Company, Inc. Reports Second Quarter 2026 Results

July 29, 2026

- Delivered Second Quarter Net Sales of $158.1 Million
- Earnings per Share was $0.43, Adjusted Earnings per Share was $0.52
- Generated $17.3 Million of Cash from Operations
- Declares Quarterly Dividend of $0.21 Per Share

Sturm, Ruger & Company, Inc. (NYSE-RGR) ("Ruger" or the "Company") announced today its financial results for the second quarter 2026.

Second Quarter 2026 Financial Highlights

• The Company achieved net sales of $158.1 million, a 19% increase over the $132.5 million achieved in the corresponding period in 2025.
• Diluted earnings were $0.43 per share compared to $1.05 diluted loss per share in the corresponding period in 2025.
• On an adjusted basis, diluted earnings for the second quarter of 2026 were $0.52 per share compared to $0.41 per share in the corresponding period in 2025.
• Average selling price increased 10% to $384 during the quarter, while improved product mix and operational execution contributed to a 4% increase in adjusted gross margin compared to Q2 2025.
• Net Income Margin for the Quarter was 4.4%. Adjusted EBITDA Margin for the Quarter was 10.5%

During the second quarter, the Company incurred incremental expenses associated with negotiating and finalizing the Strategic Cooperation Agreement (“Agreement”) with Beretta Holding S.A. (“Beretta Holding”), which was announced on May 4, 2026. The Company incurred legal, professional and advisory fees and other expenses totaling approximately $1.2 million related to the Agreement negotiations during the quarter. Additionally, there were one-time expenses related to the transition of the Chief Financial Officer that were incurred in the quarter. These items do not, in the opinion of management, reflect the underlying performance of the core business.

The Company announced today that its Board of Directors declared a dividend of $0.21 per share for the second quarter for shareholders of record as of August 14, 2026, payable on August 28, 2026. This dividend equates to approximately 40% of adjusted net income of $0.52 per share for the second quarter of 2026.

The second quarter reflected continued execution of the Company's 2026 Plan, highlighted by improved operating performance, strong core product demand and the introduction of the Ruger Business System, establishing the Company's long-term operating framework.

"Our second quarter results demonstrate our ability to deliver against our strategy," said Todd Seyfert, President and Chief Executive Officer. "We delivered sequential and year-over-year sales growth, improved bottom-line results and improved manufacturing execution following first quarter production constraints."

Second Quarter 2026 Operational Highlights

• The estimated sell-through of the Company’s products from the independent distributors to retailers in Q2 2026 increased by 19% from Q2 2025, exceeding a 5% increase in adjusted NICS during the same period.
• Compared to the second quarter of 2025, the Company's finished goods inventories decreased 100,100 units while distributors’ inventories decreased 45,800 units, reflecting strong retail pull through of our new products.

"Adjusted NICS remained above prior-year levels during the quarter, and Ruger continued to outperform the broader market," Seyfert added. "Improved manufacturing execution also allowed us to begin rebuilding finished goods inventory, enhancing product availability for our customers while maintaining disciplined inventory management."

An important milestone during the quarter was the formal establishment of the Ruger Business System – the operating framework for how the company will plan, execute and continuously improve performance across the enterprise.

"The establishment of the Ruger Business System is much more than a new operating process," Seyfert continued. "It creates a common way of working company-wide, aligning our people around shared objectives, reinforcing accountability and providing the tools and capabilities for successful execution of our Ruger 2030 strategy, and beyond."

Year-to-Date 2026 Highlights
Through the first six months of 2026, the Company continued executing its 2026 Plan while strengthening its operational foundation through improved manufacturing performance and disciplined capital allocation. Other highlights include:

• The Company achieved net sales of $299.4 million for the period, a 12% increase over the $268.2 million achieved in the corresponding period in 2025.
• Diluted earnings were $0.44 per share for the period compared to $0.57 diluted loss per share in the corresponding period in 2025.
• On an adjusted basis, excluding severance costs related to a first quarter reduction-in-force and legal, professional and advisory fees and other expenses related to the stockholder matters, diluted earnings for the first six months of 2026 were $0.79 per share compared to adjusted earnings of $0.87 per share for the first half of 2025. The 2025 adjusted earnings exclude the inventory and related other asset write-off, product rationalization, and organizational realignment incurred in the second quarter of 2025.
• Sales of new products, including the RXM pistol, Marlin 1894 lever-action rifles, American Centerfire Rifle Generation II, Glenfield rifles, Harrier rifles and the Ruger Red Label III Shotgun, represented $80.9 million, or 29%, of firearm sales for the period. New product sales include only major new products that were introduced in the past two years.
• Cash generated from operations during the first half of 2026 totaled $36.1 million, compared to $25.9 million in 2025.
• As of June 27, 2026, Ruger’s cash and short-term investments totaled $117.5 million. The Company’s current ratio is 3.3 to 1 and there is no debt.
• For the period, capital expenditures totaled $8.1 million. The Company expects capital expenditures to total approximately $30 million for the year for continued investments in new product introductions, expanded capacity for product lines in greatest demand, upgraded manufacturing capabilities and strengthened facility infrastructure.
• In the first six months, the Company returned $3.0 million to its shareholders through the payment of quarterly dividends. The Company did not repurchase any shares of its common stock during the period.

"As we reach the midpoint of 2026, we are encouraged by the progress we've made across the business. While there is still important work ahead, we believe the operational foundation we continue building positions Ruger to execute with greater consistency, respond more effectively to changing market conditions and create durable long-term value for our shareholders," Seyfert concluded.

Today, the Company filed its Quarterly Report on Form 10-Q for the second quarter of 2026. The financial statements included in this Quarterly Report on Form 10-Q are attached to this press release. - View Release

The Quarterly Report on Form 10-Q for the second quarter of 2026 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.

Earnings Call Information

The Company will host a webcast at 4:30pm ET today to discuss the second quarter 2026 financial results. Participants may access the live 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.