Sturm Ruger Q3 2026 adjusted earnings rise to $0.44
RGR expects approximately $30 million in 2026 capital expenditures after reporting $9 million year to date.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Sturm, Ruger & Company, Inc. (RGR) reported third-quarter 2026 net sales of $148 million, up 17% from $127 million a year earlier. Adjusted EBITDA was $14 million versus $3 million, and adjusted EBITDA margin was 10%. Diluted earnings were $0.36 per share and adjusted diluted earnings were $0.44 per share, each compared with $0.10 a year earlier. The board declared a third-quarter dividend of $0.18 per share.
For the first nine months, net sales were $447 million, up 13%, and cash generated from operations was $24 million. Quarter-end cash and short-term investments totaled $101 million, with no debt. The company expects approximately $30 million in capital expenditures for 2026. In October, it announced production suspensions for a limited number of product families and final 2026 production and allocation for several others; those products represent roughly 4% of total unit production or roughly $25 million of total revenues, despite generating minimal to no profitability. During the quarter, the company implemented its Oracle Enterprise platform and continued manufacturing modernization.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointThird-quarter net sales rose 17% year over year to $148 million.
- Moderate pointAdjusted EBITDA was $14 million, compared with $3 million a year earlier.
Negative
- None.
Filing Explained
Ruger says the products whose production it suspended could return if demand returns or reengineering supports it, so the disclosed action is a conditional production pause, not a stated permanent discontinuation.
8-K Event Classification
Key Figures
Key Terms
Adjusted EBITDA financial
current ratio financial
Ruger Business System technical
sell-through financial
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much did RGR report in third-quarter 2026 sales and adjusted earnings?
What dividend did RGR declare for the third quarter of 2026?
How much did RGR spend on capital expenditures in the first nine months of 2026?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
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| Item 7.01 | Regulation FD Disclosure |
On November 4, 2026, the Company hosted its post-earnings release conference call and webcast to discuss our third quarter 2026 financial results. The transcript of the conference call and webcast is included as Exhibit 99.1 to this Report on Form 8-K.
The information in this subsection of this Report on Form 8-K and Exhibit 99.1 is furnished pursuant to Item 7.01 and shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The filing of this Report on Form 8-K will not be deemed an admission as to the materiality of any information in the Report that is required to be disclosed solely by Regulation FD.
The text included as Exhibit 99.1 and the replay of the conference call and webcast on November 4, 2026, is available on our website located at Ruger.com/corporate, although we reserve the right to discontinue that availability at any time.
Certain statements contained in this Report on Form 8-K (including Exhibit 99.1) may be deemed to be forward-looking statements under federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements include, but are not limited to, statements regarding 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. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date such forward-looking statements are made or to reflect the occurrence of subsequent unanticipated events.
| Item 9.01 | Financial Statements and Exhibits |
| Exhibit No. | Description |
| 99.1 | Transcript of conference call and webcast conducted on November 4, 2026. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| STURM, RUGER & COMPANY, INC. | |||
| By: | /S/ ANDREW T. WIELAND | ||
| Name: | Andrew T. Wieland | ||
| Title: | Principal Financial Officer, | ||
| Principal Accounting Officer, | |||
| Senior Vice President, and | |||
| Chief Financial Officer | |||
Dated: November 5, 2026
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Sturm, Ruger & Company, Inc. NYSE:RGR
FQ3 2026 Earnings Call Transcripts
Wednesday, November 4, 2026 9:30 PM GMT
S&P Global Market Intelligence Estimates
1
Contents
Table of Contents
| Call Participants | 3 | |
| Presentation | 4 | |
| Question and Answer | 6 |
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STURM, RUGER & COMPANY, INC. FQ3 2026 EARNINGS CALL NOV 04, 2026
Call Participants
EXECUTIVES
Andrew Thomas Wieland
Senior VP & CFO
Sarah Colbert
Todd William Seyfert
President, CEO & Director
ANALYSTS
Mark Eric Smith
Lake Street Capital Markets, LLC,
Research Division
Rommel Tolentino Dionisio
Aegis Capital Corporation, Research
Division
Unknown Analyst
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STURM, RUGER & COMPANY, INC. FQ3 2026 EARNINGS CALL NOV 04, 2026
Presentation
Operator
Hello, everyone. Thank you for joining us, and welcome to Sturm Ruger & Company's Third Quarter 2026 Earnings Call. [Operator Instructions] I will now hand the conference over to Todd Seyfert, CEO and President. Todd, please go ahead.
Todd William Seyfert
President, CEO & Director
Good afternoon, and thank you for joining us for the Sturm Ruger & Company's Third Quarter 2026 Earnings Conference Call. I'm Todd Seyfert, President and Chief Executive Officer. Before we get started, I would like to turn it over to Sarah Colbert, our General Counsel, for the caution on forward-looking statements.
Sarah Colbert
I'd like to remind everyone that some of the statements we make today will be forward-looking in nature. These statements reflect our current expectations, but actual results could differ materially due to several uncertainties and risks. You can find more information about these factors in our most recent Form 10-K and other filings with the SEC. We do not undertake any obligation to update these forward-looking statements. Reconciliations of any non-GAAP measures discussed today are available in our earnings release and on our website.
Todd William Seyfert
President, CEO & Director
Thank you, Sarah. Our third quarter represented another meaningful step forward in executing our 2026 plan. We delivered another quarter of year-over-year and sequential sales growth while also improving profitability on both a year-over-year and sequential basis.
Just as importantly, we continued making significant changes across the organization that will strengthen how we operate and position the company for the future. During the quarter, we implemented our new Oracle Enterprise platform, continued expanding the Ruger Business System and advanced the work necessary to modernize our manufacturing operations.
Following the quarter, we also announced several portfolio decisions designed to reduce complexity and better align our resources with the products and markets where we see the greatest opportunities for consumer demand, profitability and long-term growth.
Taken together, these actions demonstrate we are doing what we said we would do. We're improving the performance of the business today while building the capabilities necessary to execute our Ruger 2030 strategy.
Now I would like to welcome Andrew Wieland, our Chief Financial Officer, to take you through the financial results.
Andrew Thomas Wieland
Senior VP & CFO
Thanks, Todd. Net sales for the third quarter were $148 million, an increase of 17% compared with $127 million in the third quarter of 2025. Adjusted EBITDA for the quarter was $14 million compared with $3 million in the third quarter of 2025. Adjusted EBITDA margin was 10%, driven by favorable product mix, continued premiumization within our existing product families and improved manufacturing efficiencies.
Diluted earnings were $0.36 per share compared with $0.10 per share in the prior year period. On an adjusted basis, diluted earnings were $0.44 per share compared with $0.10 per share last year. The Board of Directors declared a dividend of $0.18 per share for the third quarter.
Looking at the first nine months of the year, net sales were $447 million, an increase of 13% over the same period in 2025. Cash generated from operations was $24 million. At quarter end, our cash and short-term investments totaled $101 million. Our current ratio is 3:1, and we have no debt.
Year-to-date, our capital expenditures totaled $9 million. As we have mentioned before, we expect capital expenditures to total approximately $30 million for the year. In the first nine months, we returned $6.4 million to our shareholders through the payment of quarterly dividends. Our balance sheet remains strong and gives us the flexibility to continue investing in the business while returning capital to shareholders. Todd?
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STURM, RUGER & COMPANY, INC. FQ3 2026 EARNINGS CALL NOV 04, 2026
Todd William Seyfert
President, CEO & Director
Thank you, Andrew. Overall, the financial results demonstrate that we are growing the top line, improving profitability and continuing to strengthen the underlying performance of the business. I would like to spend a few minutes connecting several of the changes we've discussed over the past few quarters because they are not separate initiatives. They are pieces of the same strategy.
Earlier this year, we formally established the Ruger Business System. The Ruger Business System provides the operating discipline for how we plan, execute, measure performance and continuously improve. Oracle provides the information and visibility necessary to support that discipline.
Together, the Ruger Business System and Oracle give our teams faster access to information, improved business processes and greater accountability. And we're beginning to use those capabilities to make deliberate decisions about where and how we deploy our resources. That brings me to our portfolio.
In October, we announced that we would suspend production of a limited number of product families and complete final 2026 production and allocation of several others. Collectively, these products represent roughly 4% of our total unit production or roughly $25 million of our total revenues despite generating minimal to no profitability.
These decisions are not about making Ruger smaller. They're about making Ruger stronger. We are taking a disciplined look at how we deploy our people, equipment and capital and ensuring those resources are aligned with the products and markets where we see the greatest opportunities for consumer demand, profitability and long-term growth. This is an important part of becoming a more focused and agile company. Yet, I want to be clear about something.
Portfolio rationalization does not mean we are pulling back from product development. In fact, it's the opposite. We're creating capacity to focus more resources on the products and platforms where we believe Ruger can win. While we're reducing complexity in parts of the portfolio, we're accelerating investment in product innovation.
We anticipate introducing numerous new and innovative models over the coming months. That pipeline reflects the work underway across product development, engineering, manufacturing, sales and marketing… the next generation of our portfolio. We're becoming more disciplined about where we compete, more flexible in how we manufacture and more focused on bringing compelling products to market. That combination is imperative to the long-term growth of Ruger.
At the beginning of the year, we laid out five priorities for 2026. Those priorities were straightforward: improve profitability, align factory capacity with demand, right size the business to our future product portfolio, increase output on proven high-demand product lines and expand into new markets through complete product ecosystems. Three quarters into the year, we have made measurable progress against these priorities.
Profitability has improved. We're modernizing our manufacturing operations and aligning capacity more closely with demand. We've made difficult but necessary portfolio decisions. We're redirecting resources toward products and platforms with stronger opportunities for growth, and we're investing in a significant pipeline of new products that will support the future.
At the same time, we're building the infrastructure that supports all these priorities through individual initiatives that matter. The Ruger Business System provides that discipline. Oracle provides the information. Portfolio rationalization provides the focus, manufacturing modernization provides the flexibility and product innovation provides the opportunity for growth. That's how our 2026 plan begins building the capabilities required for Ruger 2030.
There is still important work ahead, but we're doing what we said we would do. We're executing our 2026 plan while building the capabilities necessary to deliver our Ruger 2030 strategy. Ruger is financially healthy. Our strategy is clear and our organization is aligned around its execution. The decisions we're making today are not simply about improving the next quarter. They're all about building a stronger, more agile and more profitable Ruger capable of creating durable long-term value for our shareholders.
Before we open the call for questions, I want to thank our employees across Ruger for their continued hard work and commitment. There has been significant change across the organization this year, and our teams continue to respond with tremendous effort and focus. Thank you. Operator, can we please have the first question?
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STURM, RUGER & COMPANY, INC. FQ3 2026 EARNINGS CALL NOV 04, 2026
Question and Answer
Operator
[Operator Instructions] The first question is from the line of Mark Smith with Lake Street.
Mark Eric Smith
Lake Street Capital Markets, LLC, Research Division
I wanted to ask first about kind of production and capacity. I think that this might have been your highest number of units produced in several years here this quarter. I'm curious how much of this was Kentucky and the addition of that facility and kind of how you feel about how production is running against your capacity?
Todd William Seyfert
President, CEO & Director
Mark, so I would tell you, it is a near-term record. A lot of this is the culmination of really what we've been doing in the last 18 months, which is really this focus on rationalization, making sure that we're focused on the right products where there's high demand and investing in that additional capacity where we had the backlog that I know we've talked about in the past.
So I think it's a combination of that. It's a combination of the flexibility in terms of product mix, really focusing that product mix, which is making it a little bit easier in terms of planning. And then finally, I think it's the people getting on board in terms of these priorities across the facilities. All those things together, Mark, I think, are what's driving the increased output.
Mark Eric Smith
Lake Street Capital Markets, LLC, Research Division
Perfect. And then looking at your product mix, the ASP on units ordered came in, I guess, a bit lower than expected and lower than historically you've kind of run. Curious, is that purely just a mix thing? Or is there any of the changes in production and development here that maybe impacted some of the orders maybe late in the quarter?
Todd William Seyfert
President, CEO & Director
No, I think it really does come down to mix, Mark. Depending on the time of year, Q3 and some of the delays around the shipments in the quarter, I think it really comes down to more mix than anything else. our backlog is still healthy. We're happy with where we sit heading into Q4, kind of holiday season, Black Friday. So to me, that's more of a short-term issue.
Mark Eric Smith
Lake Street Capital Markets, LLC, Research Division
Okay. And the last one for me is just looking at distributor inventory. Curious if you can comment on kind of comfort levels. It came up a little bit, but it still seems in a good historical place. But your comfort with the distributor inventory and then any commentary on kind of what you guys are seeing in the demand environment today?
Todd William Seyfert
President, CEO & Director
Yes. So I think we're happy with distributor inventory. We monitor that closely, as you know. And to me, it's a proxy of their inventory and the sell-through as well as what we see at retail. Generally speaking, we're happy with where Q3 was in terms of consumer demand. And again, planning for Q4, it really is making sure that our channel is healthy. And I would say that given where we've been in the last year, we're really happy with where the distributors sit with inventory as we head into the fall season.
Operator
The next question is from the line of Rommel Dionisio with Aegis Capital.
Rommel Tolentino Dionisio
Aegis Capital Corporation, Research Division
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STURM, RUGER & COMPANY, INC. FQ3 2026 EARNINGS CALL NOV 04, 2026
With regards to some of the supply chain initiatives that you guys are putting into place, are you still very much on track with regards to the new product cadence here as we enter the latter part of the year, especially going to SHOT over 2027?
Todd William Seyfert
President, CEO & Director
Yes, we're actually very happy with the progress we've made. We spent a lot of time in the organization really aligning kind of the new product development process. We have a number of initiatives around the launches. And I think if you're going to be at SHOT Show, hopefully, I'll get to say hello, and you'll be able to see the benefit of the introductions that we'll do there. But we're happy with where we sit in the quarter as far as the new launches that we have planned over the next three to four months.
Rommel Tolentino Dionisio
Aegis Capital Corporation, Research Division
Okay. And just in terms of -- with a lot of moving parts on the infrastructure internally, can you just talk about redeployment of employee resources? I mean, obviously, you're streamlining the product portfolio and so forth. But is there anything set in place from a manufacturing standpoint, from a marketing standpoint with the specific personnel in place? Obviously, there have been some management additions here over the last few months. And I just want to just check that that's pretty much in place as you launch these new products going into the next several months.
Todd William Seyfert
President, CEO & Director
Yes. I would say our deployment is in line with what we've done in the past. I think in terms of just headcount, I think one of the things that is coming through in the quarter is some of the actions that we took early in the year. The savings are flowing through and continue to flow through. So we made the right decisions in terms of allocation of resources early in the year. We took those numbers out, and we haven't replaced them.
And so heading into the fall again, I think in terms of the focus on new product development, the cadence that we want to get into in terms of the amount of new products we're launching within a year and within a quarter, we're on track for those. And we have the, what I would call, the marketing and the sales programs in place to support those.
Operator
Your next question is from the line of James Param with Standish Management.
James Param
In the past month have released new kind of heritage-focused revolver models. And I was wondering if you could comment kind of where Ruger sees the revolver market and revolver demand going. I mean, obviously, you guys discontinued almost all revolver production and kind of what you guys are seeing that Smith & Wesson and Taurus might not be?
And then kind of a follow-on to that question is, are there plans to kind of handle -- there's a lot of discontent in the gun owner community right now around Ruger's decision to discontinue the heritage lines. Are there plans to kind of address that? And are you worried about losing customers due to this decision?
Todd William Seyfert
President, CEO & Director
So I think a couple of questions there. I think the first one is if you look at the total amount of products that we're suspending, and I think it's important that we talk about suspension versus discontinuation. And so the first thing I'll say is that Ruger has a history of suspending production when demand is not there. And I think that's what we're talking about here.
In terms of the market, I can't speak to our competitors, but when we look at demand, demand across some of those categories were low enough for us to have these difficult conversations. If demand returns or if there's a manufacturing opportunity for us to reengineer a product that makes it better and therefore, would increase consumer demand by all means, we will do those things. And so these are things we look at all the time. and we have products that get paused throughout the portfolio. So I think that's the first part of the question.
The second part is, listen, we talk to our customers all the time, and we talk to whether it's distributor partners, whether we talk to our retail partners or our consumers. Some of these things are emotional. But when it comes down to the opportunity for Ruger long term
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STURM, RUGER & COMPANY, INC. FQ3 2026 EARNINGS CALL NOV 04, 2026
is to make sure that we're listening to what our consumers want. And in the current environment, they're asking for other things than the products that we put on pause.
Operator
There are no further questions at this time. I will now turn the call back to Todd Seyfert for closing remarks.
Todd William Seyfert
President, CEO & Director
Thank you again for joining us today and for your continued investment in Ruger. We're pleased with the progress we're making, but we know there's more work to do. Our focus remains on executing our plan, improving the performance of the business and building a stronger Ruger for our customers, employees and shareholders. We look forward to talking again in the next quarter. Thank you, and have a good evening.
Operator
This concludes today's call. Thank you for attending. You may now disconnect.
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STURM, RUGER & COMPANY, INC. FQ3 2026 EARNINGS CALL NOV 04, 2026
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