Net income declined 22% in Q2 to $16,185,000 from $20,757,000 on RGR’s first year-over-year sales increase in six quarters, with the top line gaining 2% to $142,804,000 against $140,653,000. Channel inventories of some firearms remain lower than desired, but the distribution chain has largely normalized after shortages starting in 2020, and overstocks last year. RGR noted that independent distributors’ inventory turns are about six per year, an appropriate level. Some product families are in short supply, however, and it is working to catch up.

But consumer demand has softened for some of ... Log in to view full article.