“Sturm, Ruger & Co. Reports Financial Results for 2024 as President and CEO Prepares for Retirement”

American firearm manufacturer Sturm, Ruger & Co. (RGR) unveiled significant developments along with their 2024 financial performance. The company announced the timeline for the retirement of its President and CEO Chris Killoy while reflecting on an eventful financial year marked by anniversary celebrations and various financial milestones.

For 2024, the company reported net sales of $536 million. Although a slight dip compared to the previous year’s $544 million, the firm’s diluted earnings per share came in at $1.77, compared to $2.71 in 2023. The decrease in profitability was attributed to unfavourable deleveraging of fixed costs stemming from reduced production and sales, inflationary cost pressures, and a product mix shift towards lower-margin products that were in stronger demand.

However, the company saw noticeable improvement in its figures for Q4 2024, with net sales amounting to $146 million and diluted earnings sitting at $0.62 per share

The firm hosted a year-end 2024 conference call, during which Killoy announced his plan to retire in May 2025. In the interim, Todd Seyfert will assume the role of President and CEO starting March 1, 2025, to ensure a smooth transition. Seyfert, a veteran of the industry, attended the Shooting, Hunting, Outdoor Trade (SHOT) Show last month, familiarizing himself with key partners and works of the company. Killoy conveyed his confidence in Seyfert, expressing his belief in Seyfert’s ability to continue delivering innovative products, profitability, and long-term value to shareholders.

2024 also marked the 75th anniversary for Sturm, Ruger & Co., prompting numerous events throughout the year to commemorate the milestone. Among their triumphs was the launch of their RXM, a 9-millimeter pistol developed in partnership with Magpul Industries. Demand catapulted for the firearm following its unveiling, making significant contributions to Q4 earnings.

Forward-looking statements from the company suggest a continued focus on long-term shareholder value. Possibilities of strategic acquisitions and expansion of new product lines were also hinted at in addition to maintaining a strong financial balance.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Sturm, Ruger & Company, Inc.’s 8K filing here.

About Sturm, Ruger & Company, Inc.

Sturm, Ruger & Co, Inc engages in the business of designing, manufacturing, and selling firearms to domestic customers. It operates under the Firearms and Castings segments. The Firearms segment focuses on manufacturing and selling rifles, pistols, and revolvers principally to a number of federally licensed, independent wholesale distributors.