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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