Sturm Ruger Inc (RGR) Q2 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Sturm Ruger Inc (RGR) Q2 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Sturm, Ruger sees a 50% jump in sales
Published: 5/9/2021 8:00:04 PM
A worldwide pandemic, political turmoil and mass shootings are usually not good for most businesses, but for firearms manufacturers like Sturm, Ruger & Co. they have meant increased revenue and profits.
The company reported a nearly 50% boost in revenue, to $184.4 million, for the first quarter of 2021 over the same quarter in 2020. It also said its net income more than doubled to $38.2 million for the same period, and it announced a quarterly dividend of 71 cents a share.
Some of the boost was generated by development of new firearms, but background checks show that sales increased 13%, and in a filing with the Securities and Exchange Commission, Ruger said the hike in sales may be attributed to “increased public concern about personal protection and home defense in reaction to: