Sturm, Ruger & Company reported first-quarter 2026 net sales of $141.4 million on Wednesday, topping the analyst consensus of roughly $138.6 million and representing a 4.1-percent increase over the $135.7 million the company recorded in Q1 2025, according to the company's earnings release published May 6. The results landed as the firearms market continues its gradual recovery from the post-pandemic demand correction.

New product introductions carried 41 percent of firearm revenue for the quarter. The $51.6 million in new-model sales came from a broad lineup: the polymer-frame RXM pistol, Marlin 1894 lever-action rifles, the American Centerfire Rifle Generation II, Glenfield and Harrier rifles, and the Red Label III over-under shotgun. Sell-through from the independent distributor tier to end retailers increased 3.2 percent versus Q1 2025. Finished goods inventories fell 95,800 units quarter-over-quarter while distributor inventories dropped 26,400 units — both indicators pointing to healthy channel pull-through rather than inventory-stuffing.

The headline earnings picture was weighed down heavily by non-recurring charges. Reported diluted EPS fell to $0.01 from $0.46 in the year-ago quarter, dragged by $3.2 million in professional fees tied to the now-resolved Beretta proxy contest, $2.5 million in severance from a reduction in force, and a $1.7 million one-time share-based compensation charge. Stock Titan's filing summary notes that adjusted diluted EPS came in at $0.27, stripping out the proxy-related and severance items. Gross margin was 19.9 percent, down year over year, reflecting both lower production levels and $0.8 million of deferred promotional revenue that reduced gross profit by $1.8 million on a comparable basis. The company ended the quarter debt-free, with $105.2 million in cash and short-term investments, working capital of $157.5 million, and paid a quarterly dividend of $0.08 per share.

CEO Todd Seyfert, who took the helm in March 2025, addressed the cost drag directly: "While we are extremely excited about our 2026 plan and approach, we remain focused on improving our overall cost structure and profitability. The actions we took during the quarter — both in protecting the interests of shareholders and driving cost out of the organization — are already contributing to a more focused and efficient operating model. As these temporary expenses roll off, we expect improved visibility into the underlying earnings power of the business."

Ruger does not issue annual guidance. The company's Q2 2026 results are expected in August. Analysts and investors will be watching whether new-product revenue stays above the 40-percent threshold set this quarter and whether gross margins recover once the proxy-contest advisory fees and severance charges drop out of the year-over-year comparisons.