Ruger Stocks Climb on News of Spike in Sales

By Chris Eger

Sales of new products, such as the Ruger 57 pistol, a full-sized handgun chambered in 5.7x28mm, accounted for about 20% of the company’s sales last quarter. (Photo: Chris Eger/Guns.com)
One of the nation’s largest publicly-traded gun companies reported a revenue jump for the first quarter of 2020, followed by a rise in stock prices.
Sturm, Ruger & Company, Inc. (NYSE: RGR) last week announced $123.6 million in quarterly sales, an increase of about 7.8% over the same quarter in 2019. The company also reported a 37% spike in sales from distributors to retailers when compared with a year ago.
About 20% of the company’s firearm sales, some $23 million, came from guns introduced in the past two years including the Wrangler, a budget .22LR single-action revolver; the Ruger-57, the LCP II in .22 LR, the PC Charger, and the AR-556 pistol.
“Strong consumer demand, exciting new products, and reduced reliance on promotions led to improved earnings and cash flows, which strengthened our already robust debt-free balance sheet as we ended the quarter with $188 million of cash and short-term investments,” said Chief Executive Officer Christopher J. Killoy. “In addition, inventories were reduced at both Ruger and at our distributors as retail demand outstripped available inventories, particularly

Source: Guns.com