Sturm, Ruger & Company reported net sales of $139.4 million and diluted earnings of $1.03 per share for the third quarter of 2022, compared to $178.2 million in net sales and $1.98 earnings per share for the third quarter of 2021. Consumer demand remained consistent with the second quarter but below the level of 2021, influenced by inflationary pressures.
Net sales decreased by 22% compared to the prior year.
Diluted earnings per share decreased to $1.03 from $1.98 in the third quarter of 2021.
The company declared a dividend of 41¢ per share for the third quarter.
New product development teams launched three new products in the third quarter.
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.
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