Sturm, Ruger & Company, Inc., together with its subsidiaries, designs, manufactures, and sells firearms under the Ruger name and trademark in the United States. It operates through two segments, Firearms and Castings. The company provides single-shot, autoloading, bolt-action, and sporting rifles; rimfire and centerfire autoloading pistols; single-action and double-action revolvers; and firearms accessories and replacement parts, as well as manufactures lever-action rifles under the Marlin name and trademark. The company also manufactures and sells steel investment castings and metal injection molding (MIM) parts. It sells its firearm products through independent wholesale distributors principally to the commercial sporting market; and castings and MIM parts directly or through manufacturers' representatives. The company also exports its firearm products through a network of commercial distributors and directly to foreign customers comprising primarily of law enforcement agencies and foreign governments. Sturm, Ruger & Company, Inc. was founded in 1949 and is based in Southport, Connecticut.
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Here are 1-3 brief analogies for Sturm Ruger (RGR):
- Sturm Ruger is like the Ford of firearms – an established American manufacturer of a wide range of guns.
- Sturm Ruger is like the Caterpillar of guns – known for rugged and reliable firearms.
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- Pistols: Handguns, including both semi-automatic models and revolvers designed for various uses.
- Rifles: Long guns, encompassing centerfire and rimfire variants for hunting, sport, and tactical applications.
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Sturm Ruger (RGR) primarily sells its firearms and related products to other companies rather than directly to individuals. Its major customers are independent wholesale distributors and, to a lesser extent, large national retailers who then sell to the end consumer.
Sturm Ruger's public filings indicate that no single customer accounts for a material percentage (typically 10% or more) of its net sales. As such, specific individual major customers are not disclosed by name in their financial reports. However, the company's products are distributed through a well-established network of firearm wholesalers and large sporting goods retailers that serve the end consumer.
Based on general industry knowledge, the primary direct customers for Sturm Ruger's products are major independent wholesale distributors. While most of these distributors are privately held, they are critical conduits for Ruger's products reaching thousands of retail dealers across the United States. Key distributors include:
- Lipsey's (Private Company)
- Davidson's (Private Company)
- Sports South LLC (Private Company)
- Zanders Sporting Goods (Private Company)
- Chattanooga Shooting Supplies (Private Company)
Additionally, large national sporting goods retailers serve as important sales channels. Some of these retailers may have direct purchasing relationships with Sturm Ruger, alongside purchasing through the aforementioned distributors:
- Academy Sports + Outdoors (NYSE: ASO)
- Sportsman's Warehouse Holdings, Inc. (NASDAQ: SPWH)
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Todd W. Seyfert
President, Chief Executive Officer and Director
Todd W. Seyfert was appointed President and Chief Executive Officer of Sturm, Ruger & Co., Inc. effective March 1, 2025. Prior to joining Sturm, Ruger, he served as the CEO of FeraDyne Outdoors, LLC, a manufacturer of archery and hunting products, where he was responsible for driving growth, innovation, operational improvements, and strategic acquisitions. His professional experience also includes key leadership roles at various manufacturing and consumer goods companies such as ATK/Vista Outdoors, Magnum Research, Bushnell, Michaels of Oregon, and Birchwood Laboratories. He also held the position of President of Segment Land Vehicles Americas at Dometic Group AB. Mr. Seyfert has served as a Board member and Audit Committee chair of Chattanooga Shooting Sports, Inc. from 2019 through February 2024, and currently serves on the Board of Hodgdon Powder Company, the Youth Shooting Sports Alliance, and the Northwest Suburban Chapter of Pheasants Forever.
Thomas A. Dineen
Senior Vice President, Treasurer and Chief Financial Officer
Thomas A. Dineen joined Sturm, Ruger & Co., Inc. in 1997 as Manager of Corporate Accounting. He served as Assistant Controller from 2001 to 2003, and has held the position of Treasurer and Chief Financial Officer since 2003. Before his tenure at Sturm, Ruger, Mr. Dineen worked as an Audit Manager at KPMG LLP. He holds a Bachelor of Science degree in Accounting from Boston College.
Shawn Christopher Leska
Senior Vice President of Sales and Product Strategy
Shawn Christopher Leska was named Senior Vice President of Sales and Product Strategy in July 2025. He previously served as Vice President of Sales from November 2015 and as Director of Sales starting in November 2011.
Michael W. Wilson
Senior Vice President of Operations and Engineering
Michael W. Wilson serves as the Senior Vice President of Operations and Engineering at Sturm, Ruger & Co., Inc.
Sarah F. Colbert
Vice President, Administration, General Counsel and Corporate Secretary
Sarah F. Colbert holds the title of Vice President, Administration, General Counsel and Corporate Secretary at Sturm, Ruger & Co., Inc.
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Sturm, Ruger & Co. Inc. (RGR) primarily manufactures firearms, including revolvers, pistols, and rifles.
The addressable market for Sturm Ruger's main products can be identified within the U.S. firearms market and the broader hunting and shooting equipment market.
- The U.S. firearms market was valued at USD 3.7 billion in 2024.
- The Guns & Ammunition Manufacturing market in the U.S. was estimated at $23.2 billion in 2024 and is projected to reach $23.5 billion in 2025.
- The handguns market in the U.S. alone was valued at USD 3.6 billion in 2024.
- The U.S. hunting and shooting equipment market was more than $22 billion in 2023.
- The USA hunting equipment & accessories market is expected to grow from USD 16.86 billion in 2025 to USD 24.92 billion by 2035. Another estimate valued the USA Hunting Equipment & Accessories Market size at USD 15 billion in 2023.
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For Sturm Ruger (symbol: RGR), the following are expected drivers of future revenue growth over the next 2-3 years:
- New Product Development and Launches: Sturm Ruger is actively focusing on strategic product development and promising new product launches. This includes the introduction of the Glenfield brand, advancements in the Ruger American Rifle Generation II, expansion of the RXM pistol series, and the reintroduction of the Ruger Red Label shotgun, along with new sporting rifles from their Hebron, Kentucky facility. These new offerings are anticipated to stimulate sales and contribute to revenue growth.
- Expansion of Existing Product Lines and Calibers: The company plans to expand its product offerings by introducing new calibers within existing popular lines, such as Marlin's range. This strategy aims to cater to a broader customer base and increase sales within established product categories.
- Increased Market Share: Sturm Ruger's strategic growth efforts have already resulted in increased market share, and the company continues to implement measures for sustained long-term expansion. This focus on gaining a larger portion of the firearms market is a direct driver for higher sales volume and revenue.
- Operational Optimization and Cost Structure Enhancement: While primarily aimed at enhancing profitability and margins, optimizing the cost structure and improving operational efficiency can indirectly drive revenue growth. By strengthening its operational base, the company can potentially become more competitive on pricing or allocate more resources to growth initiatives like marketing and product development, thereby attracting more customers and sales.
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Share Repurchases
- In the first nine months of 2025, Sturm Ruger repurchased 731,000 shares of common stock for $26 million.
- For the full year 2024, the company repurchased 835,060 shares for a total of $34.4 million.
- As of December 31, 2024, approximately $40.3 million remained authorized for future share repurchases.
Share Issuance
- Sturm Ruger's share-based compensation has approximately matched its share repurchases over the past several years, totaling $20.2 million over the past three years.
- Under the 2023 Stock Incentive Plan, 1,000,000 shares were reserved for issuance, with 845,000 shares remaining available for future grants as of December 31, 2023.
Inbound Investments
- Sturm, Ruger & Company adopted a limited-duration stockholder rights plan on October 14, 2025, in response to Beretta Holding S.A. disclosing a 9.0% ownership stake.
- Beretta Holding S.A. acquired approximately 1,454,900 RGR shares for an aggregate purchase price of about $54.8 million.
Outbound Investments
- In the first nine months of 2025, capital expenditures included $15.0 million for the acquisition of Anderson Manufacturing in Hebron, Kentucky, which aims to boost domestic production capacity.
Capital Expenditures
- Sturm Ruger expects total capital expenditures for the full year 2025 to be $35 million, primarily for new product introductions, expanded capacity, upgraded manufacturing capabilities, and strengthened facility infrastructure.
- For the first nine months of 2025, year-to-date capital expenditures totaled $27.6 million.
- In 2024, capital expenditures amounted to $20.8 million, focusing on new product introductions and upgrades to manufacturing equipment and facilities.
