The following is a summary of the Sturm, Ruger & Company, Inc. (RGR) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Sturm, Ruger & Company reported a 9% decrease in net sales to $544 million and a decrease in diluted earnings to $2.71 per share in 2023.

• The company's gross margin decreased from 30% to 25% in 2023 due to unfavorable fixed costs and cost inflation in materials and commodities.

• Despite a decrease in sales, Ruger generated $34 million in cash from operations and maintains strong financial status with no debt.

• The company returned $123 million to shareholders via dividends and share repurchases, with about $75 million still available for future repurchases.

Business Progress:

• New product sales, representing products introduced in the past two years, made up 23% of firearm sales in 2023.

• The company managed to decrease inventory at independent distributors by 39,000 units, indicating effective supply chain management.

• Ruger plans to release special edition firearms and numerous limited-production models to celebrate its 75th anniversary in 2024.

• Successful market expansion was reflected by the approval of five Ruger pistols for sale in California for the first time in over a decade.

• Ruger peojects continued launch of innovative Ruger and Marlin Firearms throughout 2024.

More details: Sturm Ruger IR

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