Sturm, Ruger & Company, Inc. (NYSE:RGR) Q2 2022 Results Conference Call August 4, 2022 9:00 AM ET

Company Participants

Chris Killoy - President and CEO

Kevin Reid - General Counsel

Tom Dineen - CFO

Conference Call Participants

Mark Smith - Lake Street

Rommel Dionisio - Aegis Capital

Operator

Good day, and thank you for standing by. Welcome to the Q2 2022 Sturm, Ruger Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Chris Killoy, President and CEO. Please go ahead, sir.

Chris Killoy

Good morning, and welcome to the Sturm, Ruger & Company's second quarter 2022 conference call. I'd like to ask Kevin Reid, our General Counsel, to read the caution on forward-looking statements; then Tom Dineen, our Chief Financial Officer, will give an overview of the second quarter 2022 financial results; and then I will discuss our operations and the state of the market. After that, we'll get to your questions. Kevin?

Kevin Reid

Thanks, Chris. 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's 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 is contained from time to time in the company's SEC filings, including, but not limited to: the company's reports on Form 10-K for the year ended December 31, 2021, and of course, on the Form 10-Q for the second quarter of 2022, 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, of course, 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, 2021, and our Form 10-Q for the second quarter of 2022, both of which are posted to our website. Furthermore, the company disclaims all responsibility to update forward-looking statements. Chris?

Chris Killoy

Thank you, Kevin. Now Tom will discuss the company's second quarter 2022 results.

Tom Dineen

Thanks, Chris. For the second quarter of 2022, net sales were $140.7 million and diluted earnings were $1.17 per share. For the corresponding period in 2021, net sales were $200.1 million and diluted earnings were $2.50 per share. The second quarter of 2021 was the highest quarter in sales and profitability in our history.