Sturm, Ruger & Company, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 01, 2023 at 09:04 pm
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Sturm, Ruger & Company, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 120.89 million compared to USD 139.39 million a year ago. Net income was USD 7.43 million compared to USD 18.39 million a year ago. Basic earnings per share from continuing operations was USD 0.42 compared to USD 1.04 a year ago. Diluted earnings per share from continuing operations was USD 0.42 compared to USD 1.03 a year ago.
For the nine months, revenue was USD 413.15 million compared to USD 446.62 million a year ago. Net income was USD 37.97 million compared to USD 69.38 million a year ago. Basic earnings per share from continuing operations was USD 2.14 compared to USD 3.93 a year ago. Diluted earnings per share from continuing operations was USD 2.13 compared to USD 3.9 a year ago.
Sturm, Ruger & Company, Inc. is principally engaged in the design, manufacture, and sale of firearms to domestic customers. The Company operates through two segments: firearms and castings. The firearms segment manufactures and sells rifles, pistols, and revolvers principally to a number of federally-licensed, independent wholesale distributors primarily located in the United States. The castings segment manufactures and sells steel investment castings and metal injection molding parts. The Company primarily manufactures firearm products, under the Ruger name and trademark. It also manufactures and sells accessories and replacement parts for its firearms. In addition, the Company manufactures lever-action rifles under the Marlin name and trademark. Its firearms products are sold through a select number of independent wholesale distributors, principally to the commercial sporting market. Its design and manufacturing operations are located in the United States.