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Article Date: July 2020
Word Count: 348

Sturm, Ruger Benefits from Gun Buying Frenzy in Q2


Net income at the gun maker nearly tripled to $18,594,000 from $6,233,000 in the second quarter on surging revenues that grew 35% to $130,264,000 from $96,329,000 on growing demand for self-defense firearms brought on by the Covid-19 pandemic and civil unrest. The sudden jump in demand at the end of Q1, much of it from first-time gun buyers, continued to build momentum through the quarter. Unit sell-through of Ruger products from distributors to retailers increased 47% in H1, while NSSF-adjusted NICS checks increased 65% over the same period. But the results were lower than Wall St. expectations, and RGR shares ... Log in to view full article.

 


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