Ruger’s earnings report yesterday erased any doubt that the firearms industry has slowed. For 2019, the company reported net sales of $410.5 million and diluted earnings of $1.82 per share. 2018 net sales were $495.6 million and diluted earnings were $1.06 per share higher at $2.88 per share. Ruger CEO Chris Killoy described 2019 as “challenging for the firearms industry as manufacturing overcapacity, excess inventories at all levels of the channel, and a continued softness of demand led to a marketplace saddled with undisciplined discounting, reckless extension of payment terms, and excessive promotions. If left some distributors and manufacturers in its wake.”
