Sturm, Ruger & Company, Inc. Files Q1 2024 10-Q Report

TL;DR

<b>Sturm, Ruger & Company, Inc. has filed its Q1 2024 10-Q, reporting on its financial position as of March 30, 2024.</b>

AI Summary

STURM RUGER & CO INC (RGR) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Sturm, Ruger & Company, Inc. filed its quarterly report on Form 10-Q for the period ended March 30, 2024. The company is incorporated in Delaware and its fiscal year ends on December 31. Its common stock trades under the symbol RGR on the New York Stock Exchange. As of April 4, 2024, there were 17,401,204 shares of common stock outstanding. The filing indicates the company is a large accelerated filer.

Why It Matters

For investors and stakeholders tracking STURM RUGER & CO INC, this filing contains several important signals. This filing provides investors with the latest unaudited financial statements, offering insight into the company's performance and financial health during the first quarter of 2024. As a large accelerated filer, Sturm Ruger is subject to stringent reporting requirements, and this 10-Q submission ensures compliance and transparency for shareholders and the market.

Risk Assessment

Risk Level: low — STURM RUGER & CO INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements within the 10-Q to assess Sturm Ruger's revenue, profitability, and debt levels for Q1 2024.

Key Numbers

• 20240330 — Quarterly Period End Date (Form 10-Q filing)
• 20240507 — Filing Date (Form 10-Q filing)
• 17,401,204 — Shares Outstanding (As of April 4, 2024)

Key Players & Entities

• STURM RUGER & CO INC (company) — Filer name
• RGR (company) — Trading Symbol
• New York Stock Exchange (company) — Exchange where common stock is registered
• Delaware (company) — State of incorporation
• 17,401,204 (dollar_amount) — Number of shares outstanding as of April 4, 2024

FAQ

Risk Factors

• Compliance with SEC Reporting Requirements [low — regulatory]: The company must comply with all reporting obligations under the Securities Exchange Act of 1934, including timely filing of Forms 10-Q and 10-K.

Industry Context

Sturm, Ruger & Company, Inc. operates in the firearms industry, manufacturing and selling firearms and related accessories.

Regulatory Implications

The company is subject to federal, state, and local laws and regulations governing the manufacture, sale, and possession of firearms.

What Investors Should Do

1. Analyze the unaudited financial statements for the quarter ended March 30, 2024.
2. Review any updates or changes in risk factors disclosed in the filing.
3. Compare key financial metrics to previous periods to identify trends.

Key Dates

• 2024-03-30: Quarterly Period End — End of the reporting period for the unaudited financial statements.
• 2024-05-07: Filing Date — Date the Form 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the Form 10-Q filing for the first quarter of 2024, following the Form 10-K annual report filed previously.

Key Financial Figures

• $1 — ange on which registered Common Stock, $1 par value RGR New York Stock Exchange

Filing Documents

• rgr-20240330.htm (10-Q) — 511KB
• ex31-1.htm (EX-31.1) — 10KB
• ex31-2.htm (EX-31.2) — 10KB
• ex32-1.htm (EX-32.1) — 5KB
• ex32-2.htm (EX-32.2) — 5KB
• 0001174947-24-000687.txt (&nbsp;) — 3477KB
• rgr-20240330_cal.xml (EX-101.CAL) — 32KB
• rgr-20240330_def.xml (EX-101.DEF) — 158KB
• rgr-20240330_lab.xml (EX-101.LAB) — 332KB
• rgr-20240330_pre.xml (EX-101.PRE) — 159KB
• rgr-20240330.xsd (EX-101.SCH) — 48KB
• rgr-20240330_htm.xml (XML) — 326KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) Condensed consolidated balance sheets – March 30, 2024 and December 31, 2023 3 Condensed consolidated statements of income and comprehensive income – Three months ended March 30, 2024 and April 1, 2023 5 Condensed consolidated statement of stockholders' equity – Three months ended March 30, 2024 6 Condensed consolidated statements of cash flows – Three months ended March 30, 2024 and April 1, 2023 7 Notes to condensed consolidated financial statements – March 30, 2024 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28 PART II. OTHER INFORMATION 29 Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 31 Item 6. Exhibits 32

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) STURM, RUGER & COMPANY, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Dollars in thousands) March 30, 2024 December 31, 2023 (Note) Assets Current Assets Cash $ 15,807 $ 15,174 Short-term investments 99,486 102,485 Trade receivables, net 65,815 59,864 Gross inventories (Note 4) 139,876 150,192 Less LIFO reserve ( 65,555 ) ( 64,262 ) Less excess and obsolescence reserve ( 5,825 ) ( 6,120 ) Net inventories 68,496 79,810 Prepaid expenses and other current assets 8,971 14,062 Total Current Assets 258,575 271,395 Property, plant and equipment 464,080 462,397 Less allowances for depreciation ( 396,325 ) ( 390,863 ) Net property, plant and equipment 67,755 71,534 Deferred income taxes 15,092 11,976 Other assets 43,555 43,912 Total Assets $ 384,977 $ 398,817 Note : The Condensed Consolidated Balance Sheet at December 31, 2023 has been derived from the audited consolidated financial statements at that date but does not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. See notes to condensed consolidated financial statements. 3 STURM, RUGER & COMPANY, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Continued) (Dollars in thousands, except per share data ) March 30, 2024 December 31, 2023 (Note) Liabilities and Stockholders' Equity Current Liabilities Trade accounts payable and accrued expenses $ 29,675 $ 31,708 Contract liabilities with customers (Note 3) 30 149 Product liability 309 634 Employee compensation and benefits 14,002 24,660 Workers' compensation 6,036 6,044 Total Current Liabilities 50,052 63,195 Employee compensation 871 1,685 Product liability accrual 60 46 Lease liability (Note 5) 2,038 2,170 Contingent liabilities (Note 13) — — Stockholders' Equity Common Stock,

View Full Filing

View this 10-Q filing on SEC EDGAR