Sturm, Ruger & Company, Inc. (NYSE:RGR) Q2 2023 Earnings Conference Call August 3, 2023 9:00 AM ET
Company Participants
Christopher Killoy - President and Chief Executive Officer
Kevin Reid - General Counsel
Thomas Dineen - Chief Financial Officer
Conference Call Participants
Alex Sturnieks - Lake Street Capital Markets LLC
Rommel Dionisio - Aegis Capital Corp.
Christopher Killoy
[Abruptly Start] I’ll ask Kevin Reid, our General Counsel to read our caution on forward-looking statements. Then, Tom Dineen, our Chief Financial Officer will give an overview of the second quarter 2023 financial results, and then I will discuss our operations in the current market. After that, we’ll get to your questions. Kevin?
Kevin Reid
Thanks, Chris. As usual, we want to remind everyone that statements made in the course of this meeting that state the company’s or management’s intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements. It is important to note that the company’s actual results could differ materially from those projected in such forward-looking statements.
Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements as contained from time to time in the company’s SEC filings, including, but not limited to, of course, the company’s reports on the Form 10-K for the year-ended December 31, 2022, and on the Form 10-Q’s for the first and second quarters of 2023, the latter of which we filed last night. Copies of these documents may be obtained by contacting the company or the SEC or on the company website at ruger.com/corporate or the SEC website at sec.gov.
We do reference non-GAAP EBITDA. Please note that the reconciliation of GAAP net income to non-GAAP EBITDA can be found in our Form 10-K for the year ended December 31, 2022, and our Form 10-Q’s for the first and second quarters of 2023, all of which are posted to our website. Furthermore, the company disclaims all responsibility to update forward-looking statements. Chris?
Christopher Killoy
Thanks, Kevin. And now, Tom will discuss the company’s second quarter 2023 results. Tom?
Thomas Dineen
Thanks, Chris. For the second quarter of 2023, net sales were $142.8 million and diluted earnings were $0.91 per share. For the corresponding period in 2022, net sales were $140.7 million and diluted earnings were $1.17 per share. For the 6 months ended July 1, 2023, net sales were $292.3 million and diluted earnings were $1.72 per share. For the corresponding period in 2022, net sales were $307.2 million and diluted earnings were $2.87 per share.