Ruger Reports Sales Way Up, Sees Incredible Demand

Ruger's 57 pistol is one of the hot new offerings the company says in in high demand this year. (Photo: Chris Eger/Guns.com)

One of only two publicly-traded firearms companies in the country, Sturm, Ruger last week announced they had a great second quarter. 

The company reported net sales of $130.3 million last quarter, which ended in June, compared to $96.3 million in sales for the same period in 2019. When coupled with the first quarter of 2020, net sales were $253.9 million, compared to $210.4 million for the first half of last year. Further, with no debt, the company had a whopping cash balance of $227 million, enabling it to both return a dividend to investors and make capital investments. 

Chief Executive Officer Christopher J. Killoy said that consumer demand, which began to surge earlier this year, continued to explode in the second quarter-- and it didn't come just from people looking for duck guns. 

"This increased demand appears to be driven, in part, by concerns about personal protection and home defense stemming from the continuing COVID-19 pandemic; protests, demonstrations, and civil unrest in many cities throughout the United States; and the call, by some, for the reduction in funding and authority of various law enforcement organizations," said Killoy. "As a result of this oversized demand, inventories were significantly reduced at all levels in the channel during the second quarter."

The company noted that in the latest quarter, overall inventories decreased 57 percent, with Ruger itself moving 20,800 units and distributors another 106,500 units. 

The company has almost 1,600 employees, across three manufacturing facilities, and reports that, while they have established COVID-19 safety guidelines, the pandemic has not harmed their operations. 

"We have been fortunate to have only limited restrictions on our operations thus far," said Killoy. "Our financial strength, evidenced by our debt-free balance sheet, provides financial security and flexibility as we continue to manage through this crisis."

Give the People What They Want

Ruger said that sales of new products, including the single-action Wrangler .22 LR revolver, the innovative 5.7mm Ruger-57 handgun, the LCP II in .22 LR, the PC Charger pistol, and the recently-introduced AR-556 pistol, represented $48 million or 21 percent of firearm sales in the first half of 2020.

In all, the company offers consumers almost 700 variations of more than 40 product lines including such iconic offerings as the 10/22 and Mini-14 carbines to the Ruger 77 bolt-action rifle, Blackhawk single-action revolvers, Redhawk double-action revolvers, and Ruger SR-series pistols.

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