Sturm Ruger Q1 EPS slides to $0.40; cuts 80 jobs, sees $9M annual savings

STURM RUGER & CO INC

2024-Q1 EPS reported $0.40 revenue$136,820,000

Net sales $136.8M, down 8.5% YoY; diluted EPS $0.40 vs $0.81.
Gross margin fell to 21% from 26% due to product mix, fixed cost deleverage, and inflation.
Reduction in force impacts ~80 employees; $1.5M severance charge; expects $9M annualized savings.
New product sales rose to $42M (32% of firearm sales) from $30M (21%) a year ago.
Declared Q1 dividend $0.16/share, payable June 7; repurchased 75k shares for $3.2M in Q1.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

STURM RUGER & CO INC reported first quarter ended March 30, 2024 results: revenue net sales were $136.8 million, EPS diluted earnings were 40¢ per share.

Period: first quarter ended March 30, 2024
Revenue: net sales were $136.8 million
EPS: diluted earnings were 40¢ per share
Result: reported results

Exact text from the filing

for the first quarter of 2024, net sales were $136.8 million and diluted earnings were 40¢ per share.

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Source: SEC EDGAR

accession 0001174947-24-000688

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