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Sturm, Ruger (RGR) Q3 Earnings Decline, Revenues Up Y/Y
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Sturm, Ruger & Company, Inc.’s (RGR - Free Report) third-quarter 2018 earnings of 52 cents per share reflected an annual decline of 1.9% from 53 cents.
Sales
In the quarter under review, the company’s net sales came in at $114.9 million, up 9.7% from the prior-year figure of $ 104.8 million. Higher production volumes led to the top line growth.
Firearm sales (comprising almost 99.8% of total sales) increased 9.8% on a year-over-year basis, whereas castings sales declined 1%. Sales of new products, which include the Pistol Caliber Carbine, the Mark IV pistol, the LCP II pistol, the EC9s pistol, the Security-9 pistol and the Precision Rimfire Rifle, accounted for 30% of total firearm sales in the first nine months of 2018.
Dividend
Sturm, Ruger declared a third-quarter dividend of 21 cents per share, payable on Nov 30 to shareholders of record as of Nov 16, 2018. The dividend represents about 40% of the company’s net income.
Per management, dividend payouts vary every quarter as it is based on percentage of earnings rather than a fixed amount.
Operational Highlights
Gross profit declined 6.9% to $28.1 million from $30.2 million in the year-ago quarter.
Total operating expenses fell 4.5% to $16.1 million due to lower selling expenses. Operating income was also down 10.2% to $11.9 million from $13.3 million in the third quarter of 2017.
Sturm, Ruger’s earnings before interest, taxes, and depreciation and amortization in the reported quarter was $20.45 million, down 1.85%.
Sturm, Ruger & Company, Inc. Price, Consensus and EPS Surprise
Sturm, Ruger ended the third quarter of 2018 with $137.8 million cash compared with $63.5 million at 2017-end.
Cash generated from operations was approximately $96 million in the first nine months of 2018 compared with $59 million a year ago. The current ratio is 3.5 to 1, with no outstanding debt.
Capital expenditure was $5 million at the end of the nine months of the current year. The company expects capital expenditure of about $10 million in 2018.
Sturm, Ruger returned $16 million to its shareholders through dividend payments during the nine months.
Here are some companies from the Consumer Discretionary sector that recently released their respective quarterly results.
Pool Corporation’s (POOL - Free Report) third-quarter 2018 earnings of $1.66 per share in the quarter topped the Zacks Consensus Estimate of $1.58 by 5.1%
Mohawk Industries (MHK - Free Report) adjusted earnings per share (EPS) of $3.29 in the third quarter missed the Zacks Consensus Estimate of $3.59 by 8.4%.
Dolby Laboratories (DLB - Free Report) reported fourth-quarter fiscal 2018 adjusted earnings of 44 cents per share, beating the Zacks Consensus Estimate of 43 cents.
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Sturm, Ruger (RGR) Q3 Earnings Decline, Revenues Up Y/Y
Sturm, Ruger & Company, Inc.’s (RGR - Free Report) third-quarter 2018 earnings of 52 cents per share reflected an annual decline of 1.9% from 53 cents.
Sales
In the quarter under review, the company’s net sales came in at $114.9 million, up 9.7% from the prior-year figure of $ 104.8 million. Higher production volumes led to the top line growth.
Firearm sales (comprising almost 99.8% of total sales) increased 9.8% on a year-over-year basis, whereas castings sales declined 1%. Sales of new products, which include the Pistol Caliber Carbine, the Mark IV pistol, the LCP II pistol, the EC9s pistol, the Security-9 pistol and the Precision Rimfire Rifle, accounted for 30% of total firearm sales in the first nine months of 2018.
Dividend
Sturm, Ruger declared a third-quarter dividend of 21 cents per share, payable on Nov 30 to shareholders of record as of Nov 16, 2018. The dividend represents about 40% of the company’s net income.
Per management, dividend payouts vary every quarter as it is based on percentage of earnings rather than a fixed amount.
Operational Highlights
Gross profit declined 6.9% to $28.1 million from $30.2 million in the year-ago quarter.
Total operating expenses fell 4.5% to $16.1 million due to lower selling expenses. Operating income was also down 10.2% to $11.9 million from $13.3 million in the third quarter of 2017.
Sturm, Ruger’s earnings before interest, taxes, and depreciation and amortization in the reported quarter was $20.45 million, down 1.85%.
Sturm, Ruger & Company, Inc. Price, Consensus and EPS Surprise
Sturm, Ruger & Company, Inc. Price, Consensus and EPS Surprise | Sturm, Ruger & Company, Inc. Quote
Financial Performance
Sturm, Ruger ended the third quarter of 2018 with $137.8 million cash compared with $63.5 million at 2017-end.
Cash generated from operations was approximately $96 million in the first nine months of 2018 compared with $59 million a year ago. The current ratio is 3.5 to 1, with no outstanding debt.
Capital expenditure was $5 million at the end of the nine months of the current year. The company expects capital expenditure of about $10 million in 2018.
Sturm, Ruger returned $16 million to its shareholders through dividend payments during the nine months.
Zacks Rank
Sturm, Ruger carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
Here are some companies from the Consumer Discretionary sector that recently released their respective quarterly results.
Pool Corporation’s (POOL - Free Report) third-quarter 2018 earnings of $1.66 per share in the quarter topped the Zacks Consensus Estimate of $1.58 by 5.1%
Mohawk Industries (MHK - Free Report) adjusted earnings per share (EPS) of $3.29 in the third quarter missed the Zacks Consensus Estimate of $3.59 by 8.4%.
Dolby Laboratories (DLB - Free Report) reported fourth-quarter fiscal 2018 adjusted earnings of 44 cents per share, beating the Zacks Consensus Estimate of 43 cents.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>