Latest news with #Seyfert
Business Wire
30-07-2025
- Business
- Business Wire
Sturm, Ruger & Company, Inc. Reports Second Quarter Results
SOUTHPORT, Conn.--(BUSINESS WIRE)--Sturm, Ruger & Company, Inc. (NYSE-RGR) announced today that for the second quarter of 2025, net sales were $132.5 million and the Company lost $1.05 per share. On an adjusted basis, excluding certain items discussed below, diluted earnings per share were 41¢. For the corresponding period in 2024, net sales were $130.8 million and diluted earnings were 47¢ per share. As previously disclosed, the Company has undertaken several strategic initiatives during the quarter aimed at reorganization and realignment to enhance its operational and market positioning. These initiatives adversely impacted the results of operations for the second quarter of 2025: Inventory and related other asset write-off -- $17.0 million Product rationalization and SKU reduction -- $5.7 million Organizational realignment -- $3.7 million For the six months ended June 28, 2025, net sales were $268.2 million and the Company lost 57¢ per share. On an adjusted basis, excluding the items above, diluted earnings for the first half of 2025 were 87¢ per share. For the corresponding period in 2024, net sales were $267.6 million and diluted earnings were 87¢ per share. On an adjusted basis, excluding the reduction in force expense of $1.5 million incurred in the first quarter of 2024, diluted earnings per share for the first half of 2024 were 94¢. The Company also announced today that its Board of Directors declared a dividend of 16¢ per share for the second quarter for stockholders of record as of August 15, 2025, payable on August 29, 2025. This dividend is approximately 40% of adjusted diluted earnings of 41¢ per share for the second quarter of 2025. President and Chief Executive Officer Todd Seyfert commented on the results, 'This quarter marks my first full quarter as CEO, and we took decisive steps to position Ruger for long-term success. As part of this transition, we evolved our leadership structure and reorganized our operations to empower each business unit with greater flexibility and clearer ownership of results. We also brought our entire product strategy under one comprehensive team to sharpen our focus on future innovation and execution.' As part of these steps, the Company conducted a thorough inventory rationalization, reassessing its raw materials, work-in-process, and finished goods to identify and reserve for excess, obsolete, or discontinued inventory. This included legacy models at the end of their lifecycle, products no longer aligned with Ruger's long-term strategy, and Marlin-related items not included in that brand's future roadmap. In addition, the Company repositioned key elements of its product portfolio to better match today's market conditions, ensuring that its most desirable products reach consumers at competitive prices. While these actions adversely impacted this quarter's results, they strengthen Ruger's ability to pursue growth and deliver stability through cyclical markets. Mr. Seyfert also commented on the Company's July expansion into Hebron, Kentucky, 'Our recent acquisition demonstrates our commitment to strengthen Ruger's position as the nation's leading firearms manufacturer for the consumer market. We are delighted to have acquired the manufacturing facility and equipment formerly of Anderson Manufacturing and look forward to welcoming many of their skilled workers to the Ruger team. This $16 million investment, which was paid from cash on hand, will increase our capacity, strengthen our manufacturing capabilities and broaden our product offerings. As I have stated before, we will continue to be proactive in looking for strategic opportunities to grow our portfolio, maximize production and deliver consistent performance over time.' Other observations on the second quarter include: Sales of new products, including the RXM pistol, Super Wrangler revolver, Marlin lever-action rifles, and American Centerfire Rifle Generation II, represented $42.2 million or 33.5% of firearm sales in the second quarter of 2025. New product sales include only major new products that were introduced in the past two years. Compared to the second quarter of 2024, the Company's and distributors' finished goods inventories increased 4,000 units and 4,200 units, respectively. Cash provided by operations during the first half of 2025 was $25.9 million. On June 28, 2025, our cash and short-term investments totaled $101.4 million. Our current ratio is 4.0 to 1 and we have no debt. In the first half of 2025, capital expenditures totaled $6.7 million. The Company expects capital expenditures in the latter half of 2025 to increase from the first half of the year, exclusive of the Anderson purchase, as we invest in new product introductions, expand capacity, upgrade our manufacturing capabilities and strengthen our facility infrastructure. The Company returned $23.0 million to its shareholders in the first half of 2025 through: the payment of $6.9 million of quarterly dividends, and $16.1 million through the repurchase of 443,084 shares of its common stock at an average cost of $36.42 per share. On June 28, 2025, stockholders' equity was $289.3 million, which equates to a book value of $17.82 per share, of which $6.24 per share was cash and short-term investments. Mr. Seyfert concluded, 'We know the market remains dynamic, and we expect to see continued challenges and potential consolidation across the industry throughout the remainder of this year. Yet, our realignment and our acquisition strengthen Ruger's ability to respond, adapt and grow for the long term. We remain committed to our guiding principles: delivering rugged, reliable and innovative products, operating with financial discipline and creating long-term value for our shareholders.' Today, the Company filed its Quarterly Report on Form 10-Q for the second quarter of 2025. The financial statements included in this Quarterly Report on Form 10-Q are attached to this press release. Tomorrow, July 31, 2025, Sturm, Ruger will host a webcast at 9:00 a.m. ET to discuss the second quarter operating results. Interested parties can listen to the webcast via this link or by visiting Those who wish to ask questions during the webcast will need to pre-register prior to the meeting. The Quarterly Report on Form 10-Q for the second quarter of 2025 is available on the SEC website at and the Ruger website at Investors are urged to read the complete Quarterly Report on Form 10-Q to ensure that they have adequate information to make informed investment judgments. About Sturm, Ruger & Co., Inc. Sturm, Ruger & Co., Inc. is one of the nation's leading manufacturers of rugged, reliable firearms for the commercial sporting market. With products made in America, Ruger offers consumers almost 800 variations of more than 40 product lines, across both the Ruger and Marlin brands. For over 75 years, Ruger has been a model of corporate and community responsibility. Our motto, 'Arms Makers for Responsible Citizens ®,' echoes our commitment to these principles as we work hard to deliver quality and innovative firearms. The Company may, from time to time, make forward-looking statements and projections concerning future expectations. Such statements are based on current expectations and are subject to certain qualifying risks and uncertainties, such as market demand, sales levels of firearms, anticipated castings sales and earnings, the need for external financing for operations or capital expenditures, the results of pending litigation against the Company, the impact of future firearms control and environmental legislation, and accounting estimates, any one or more of which could cause actual results to differ materially from those projected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date such forward-looking statements are made or to reflect the occurrence of subsequent unanticipated events. STURM, RUGER & COMPANY, INC. (Dollars in thousands, except per share data) June 28, 2025 December 31, 2024 Liabilities and Stockholders' Equity Current Liabilities Trade accounts payable and accrued expenses $ 32,589 $ 35,750 Contract liabilities with customers 91 - Product liability 786 431 Employee compensation and benefits 17,998 18,824 Workers' compensation 5,758 5,804 Total Current Liabilities 57,222 60,809 Employee compensation 1,485 1,835 Product liability accrual 61 61 Lease liabilities 1,434 1,747 Contingent liabilities - - Stockholders' Equity Common Stock, non-voting, par value $1: Authorized shares 50,000; none issued - - Common Stock, par value $1: Authorized shares – 40,000,000 2025 – 24,490,478 issued, 16,233,934 outstanding 2024 – 24,467,983 issued, 16,654,523 outstanding 24,490 24,468 Additional paid-in capital 52,751 50,536 Retained earnings 420,271 436,609 Less: Treasury stock – at cost 2025 – 8,256,544 shares 2024 – 7,813,460 shares (208,179 ) (192,031 ) Total Stockholders' Equity 289,333 319,582 Total Liabilities and Stockholders' Equity $ 349,535 $ 384,034 Expand STURM, RUGER & COMPANY, INC. (Dollars in thousands, except per share data) Three Months Ended Six Months Ended June 28, 2025 June 29, 2024 June 28, 2025 June 29, 2024 Net firearms sales $131,567 $129,829 $266,762 $265,837 Net castings sales 924 932 1,467 1,744 Total net sales 132,491 130,761 268,229 267,581 Cost of products sold 127,345 101,607 233,188 209,024 Gross profit 5,146 29,154 35,041 58,557 Operating expenses: Selling 10,277 9,484 19,690 19,190 General and administrative 15,585 10,698 27,595 22,864 Total operating expenses 25,862 20,182 47,285 42,054 Operating (loss) income (20,716 ) 8,972 (12,244 ) 16,503 Other income: Interest income 954 1,329 1,992 2,684 Interest expense (22 ) (25 ) (38 ) (42 ) Other income, net 396 179 649 357 Total other income, net 1,328 1,483 2,603 2,999 (Loss) income before income taxes (19,388 ) 10,455 (9,641 ) 19,502 Income taxes (2,162 ) 2,191 (183 ) 4,154 Net (loss) income and comprehensive (loss) income $(17,226 ) $8,264 $(9,458 ) $15,348 Basic earnings per share $(1.05 ) $0.48 $(0.57 ) $0.88 Diluted earnings per share $(1.05 ) $0.47 $(0.57 ) $0.87 Expand STURM, RUGER & COMPANY, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Dollars in thousands) Six Months Ended June 28, 2025 June 29, 2024 Operating Activities Net (loss) income $ (9,458 ) $ 15,348 Adjustments to reconcile net (loss) income to cash provided by operating activities: Depreciation and amortization 11,143 11,137 Stock-based compensation 2,415 2,152 Excess and obsolescence inventory reserve 40 (467 ) Inventory and other asset write-off 17,002 - Loss on disposal of assets 185 - Deferred income taxes (2,440 ) (2,751 ) Changes in operating assets and liabilities: Trade receivables 5,340 3,745 Inventories 10,247 6,945 Trade accounts payable and accrued expenses (3,194 ) (2,770 ) Contract liabilities with customers 91 (149 ) Employee compensation and benefits (1,123 ) (8,469 ) Product liability 355 (305 ) Prepaid expenses, other assets and other liabilities (4,726 ) 1,669 Cash provided by operating activities 25,877 26,085 Investing Activities Property, plant and equipment additions (6,746 ) (10,414 ) Purchases of short-term investments (63,793 ) (76,409 ) Proceeds from maturities of short-term investments 81,165 80,404 Cash provided by (used for) investing activities 10,626 (6,419 ) Financing Activities Remittance of taxes withheld from employees related to share-based compensation (178 ) (624 ) Repurchase of common stock (16,148 ) (20,276 ) Dividends paid (6,933 ) (6,787 ) Cash used for financing activities (23,259 ) (27,687 ) Increase (decrease) in cash and cash equivalents 13,244 (8,021 ) Cash and cash equivalents at beginning of period 10,028 15,174 Cash and cash equivalents at end of period $ 23,272 $ 7,153 Expand Non-GAAP Financial Measures In an effort to provide investors with additional information regarding its financial results, the Company refers to various United States generally accepted accounting principles ('GAAP') financial measures and three non-GAAP financial measures, EBITDA, EBITDA margin, and adjusted earnings per share, which management believes provides useful information to investors. These non-GAAP financial measures may not be comparable to similarly titled financial measures being disclosed by other companies. In addition, the Company believes that the non-GAAP financial measures should be considered in addition to, and not in lieu of, GAAP financial measures. The Company believes that EBITDA and EBITDA margin are useful to understanding its operating results and the ongoing performance of its underlying business, as EBITDA provides information on the Company's ability to meet its capital expenditure and working capital requirements, and is also an indicator of profitability. The Company believes that this reporting provides better transparency and comparability to its operating results. The Company uses both GAAP and non-GAAP financial measures to evaluate the Company's financial performance. EBITDA is defined as earnings before interest, taxes, and depreciation and amortization. The Company calculates this by adding the amount of interest expense, income tax expense, and depreciation and amortization expenses that have been deducted from net income back into net income, and subtracting the amount of interest income that was included in net income from net income to arrive at EBITDA. The Company's EBITDA calculation also excludes any one-time non-cash, non-operating expense. The Company calculates EBITDA margin by dividing EBITDA by total net sales. Non-GAAP Reconciliation – Adjusted EPS Adjusted Earnings per Share Adjusted earnings per share is defined as net income, adjusted to exclude items that may include, but are not limited to, significant charges or credits, and unusual and infrequent non-operating items that impact current results but are not related to our ongoing operations, such as M&A, integration and related costs. Adjusted diluted earnings per share is defined as adjusted net income divided by the weighted average diluted common shares outstanding.
Yahoo
01-07-2025
- Science
- Yahoo
This supermassive black hole is eating way too quickly — and 'burping' at near-light speeds
When you buy through links on our articles, Future and its syndication partners may earn a commission. Astronomers have witnessed a distant supermassive black hole devouring its surrounding matter so rapidly that it is "burping" out excess mass at nearly a third of the speed of light. The discovery was made when researchers studied the supermassive-black-hole-powered Active Galactic Nucleus (AGN) of a Seyfert galaxy located about 1.2 billion light-years away. The black hole, designated PG1211+143, has a mass around 40 million times that of the sun and powers a bright quasar. This made it a prime target for astronomers seeking to understand how supermassive black holes grow by feeding on, or "accreting," matter. The team examined the black hole using the European Space Agency (ESA) X-ray spacecraft XMM-Newton, finding an influx of matter equivalent to the mass of 10 Earths flowing to the object over a period of just five weeks. The matter falling around the black hole settles into a flattened cloud of gas and dust called an accretion disk, from which material is fed to the central black hole. But even this monstrous black hole can't stomach so much matter, leading to some serious indigestion in the form of outflows travelling at around 0.27 times the speed of light. That's about 181 million miles per hour, or 100,000 times the top speed of a Lockheed Martin F-16 jet fighter. These outflows followed the black hole's inflow of matter with a delay of a few days, heating matter around the AGN to temperatures of several million degrees. This generated radiation pressure that pushed excess matter away from the central region of PG1211+143. Because stars form in galaxies from excesses of cold, dense gas, these high-speed outflows could be starving PG1211+143's surrounding space of the building blocks for new stars, both by heating gas and dust and by pushing that material away. That means studying these high-speed outflows from this black hole could help scientists to discover how black hole eruptions transform galaxies from hubs of star birth to a more quiescent existence. Related Stories: — Scientist image 3-million-light-year-long 'cosmic web' ensnaring 2 galaxies for 1st time — 'Superhighways' connecting the cosmic web could unlock secrets about dark matter — How does the Cosmic Web connect Taylor Swift and the last line of your 'celestial address?'years "Establishing the direct causal link between massive, transient inflow and the resulting outflow offers the fascinating prospect of watching a supermassive black hole grow by regular monitoring of the hot, relativistic winds associated with the accretion of new matter," team leader Ken Pounds from the University of Leicester said in a team's research was published on June 10 in the journal Monthly Notices of the Royal Astronomical Society (MNRAS)
Yahoo
14-06-2025
- Business
- Yahoo
Sturm Ruger CEO sees 2025 bottom line impacted by price repositioning moves
On June 13, Sturm, Ruger & Company provided a communication from Todd Seyfert, CEO, to its employees regarding his first 100 days and management's ongoing corporate strategy initiatives, the company disclosed in a regulatory filing. In the letter to employees, Seyfert stated in part: 'The last few months have been nothing short of transformative – and it's thanks to your focus, dedication, and belief in what we're building. As I have been doing since my first days as CEO, I wanted to update you all transparently and clearly about where I see our short-term and long-term future… With these bold moves, there comes a cost – both emotionally and financially. Change of this scale requires tough decisions, meaningful investment, and short-term impacts that we've chosen to take head-on to position Ruger for long-term strength… It is important to note that we are making these strategic decisions now – thoughtfully and intentionally – so that Ruger is positioned for consistency, stability, and profitable growth in 2026 and beyond. Yet, there will be a cost to the Company for 2025. We expect the expense-related to these initiatives to total approximately $15 million to $20 million over the remainder of the year. We additionally anticipate our price repositioning moves to impact our overall bottom line over that same period. Consequently, we currently believe that our results for the remainder of the year, before the one-time costs and expenses, will look more like prior periods, such as the latter part of 2019, where the Company continued to focus on executing its long-term strategy and delivering long-term value for shareholders in the face of broader industry challenges. These actions will be largely completed by the beginning of 2026, placing Ruger in a strong position for renewed growth and performance in the years to come. Importantly, none of this will slow our momentum when it comes to investing in what matters most, including aggressive new product development and expansion of capacity in areas where market demand exceeds our current ability to supply. We remain fully committed to profitable expansion, product innovation, agile responsiveness, and ensuring we meet the expectations of our customers and the marketplace.' Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on RGR: Disclaimer & DisclosureReport an Issue Sturm Ruger Announces Strategic Initiatives Under New CEO Supreme Court blocks Mexico suit against gunmakers Sturm Ruger Appoints New General Counsel Sturm Ruger Amends By-Laws for Shareholder Actions Sturm Ruger Reports Stable Q1 2025 Financial Results Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
RGR Q1 Earnings Call: Flat Sales in Weak Market, Focus Remains on Innovation and Capacity
American firearm manufacturing company Ruger (NYSE:RGR) fell short of the market's revenue expectations in Q1 CY2025, with sales flat year on year at $135.7 million. Its non-GAAP profit of $0.46 per share was 29.2% below analysts' consensus estimates. Is now the time to buy RGR? Find out in our full research report (it's free). Revenue: $135.7 million vs analyst estimates of $148 million (flat year on year, 8.3% miss) Adjusted EPS: $0.46 vs analyst expectations of $0.65 (29.2% miss) Adjusted EBITDA: $14.3 million vs analyst estimates of $18.71 million (10.5% margin, 23.6% miss) Operating Margin: 6.2%, in line with the same quarter last year Free Cash Flow Margin: 7.4%, up from 4.1% in the same quarter last year Market Capitalization: $612.4 million Ruger's first quarter results reflected the impact of a challenging firearms market, with management citing pressure across handguns, rifles, and shotguns. CEO Todd Seyfert emphasized that while industry-wide retail sales declined, Ruger's own performance held steady, supported by demand for recent new product introductions such as the RXM pistol and the Marlin lever-action rifles. Seyfert highlighted operational improvements and the company's ability to adapt production levels to market conditions, noting, 'Our flexible manufacturing model allowed us to adjust production based on demand while maintaining our focus on safety, quality, delivery, and cost.' Looking forward, management outlined plans to accelerate new product launches and expand production capacity, even as broader consumer demand remains uncertain. Seyfert described a 'full pipeline of roadmaps for our product categories' and indicated that capital investments would support getting new models to market faster. He acknowledged industry headwinds but projected that Ruger's financial discipline and U.S.-centric supply chain would help the company maintain stability and pursue growth opportunities, stating, 'We actually feel that we have opportunity to go out in certain categories, be more aggressive, take share, and we have the balance sheet to do that.' Management attributed Ruger's flat sales to continued demand for new products and operational adaptability in a declining market. They also highlighted ongoing investments intended to improve long-term competitiveness. Leadership Transition: The quarter marked Todd Seyfert's first as CEO, following Chris Killoy's retirement. Seyfert has prioritized maintaining Ruger's culture of quality and operational discipline during the transition. Industry-wide Demand Weakness: Management pointed to a nearly 10% year-on-year decline in overall U.S. retail firearm unit sales, with Ruger's results outperforming this trend by remaining flat. Seyfert noted, 'Although the firearms industry may be cyclical, Ruger does not have to be.' New Product Contribution: New product sales made up 31.6% of quarterly revenue. High-demand launches included the RXM pistol, second-generation Ruger American rifle, and Marlin lever-action rifles, indicating ongoing customer interest in recently introduced models. Flexible Manufacturing and Supply Chain: Ruger's U.S.-based manufacturing footprint and sourcing insulated the company from immediate tariff impacts. The company increased raw material inventories to buffer against potential supply disruptions and cost increases. Capital Investment Plans: Management discussed higher capital expenditures—potentially exceeding $30 million for the year—to support faster new product introductions, capacity expansion, and manufacturing upgrades. Seyfert stated, 'We will be more aggressive in terms of the pace of the launches.' Management expects near-term performance to be shaped by ongoing market headwinds, but plans to pursue growth through accelerated product launches, operational investments, and market share gains. Accelerated Product Launches: The company plans to increase the pace of new firearm introductions, aiming to capture customer interest and respond quickly to shifting market preferences. This approach is designed to offset weak industry demand. Capacity Expansion and Efficiency: Planned investments in production capacity and manufacturing upgrades are intended to improve output and reduce production bottlenecks. Management believes this will position Ruger to capitalize on future market recovery and consumer trends. Monitoring Industry Risks: Management acknowledged risks from persistent weak consumer demand, potential supply chain disruptions, and the impact of tariffs. While immediate effects are limited, the company is closely watching input costs and inventory dynamics to maintain margin stability. Rommel Dionisio (Aegis Capital): Asked if higher capital spending signals a more aggressive pace of new product launches. Seyfert confirmed, 'We will be more aggressive in terms of the pace of the launches.' Rommel Dionisio (Aegis Capital): Inquired about marketing and sales investment impact on profitability. Seyfert said near-term spending would be capital-focused, with expense increases tied to future growth in new product introductions. Rommel Dionisio (Aegis Capital): Questioned which product categories offer the most significant launch opportunities. Seyfert declined specifics but stated the pipeline is robust across all platforms. Mark Smith (Lake Street): Asked about the RXM pistol's effect on average selling price (ASP). Seyfert noted a short-term impact from the ramp-up, expecting stabilization as production levels out. Mark Smith (Lake Street): Probed confidence behind capacity expansion amid weak demand. Seyfert cited a combination of strong new product roadmaps and the ability to invest aggressively due to Ruger's solid balance sheet. Looking ahead, the StockStory team will be monitoring (1) the pace and commercial reception of new product launches across Ruger's core and emerging platforms, (2) the effectiveness of capital investments in boosting production efficiency and meeting demand, and (3) any signs of improvement or further deterioration in broader U.S. firearms market trends. Updates on supply chain stability and tariff impacts will also be important indicators of future performance. Ruger currently trades at a forward EV-to-EBITDA ratio of 11.3×. Should you double down or take your chips? See for yourself in our free research report. 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