Ruger Ships 46,500 More Guns Than Distributors Sold in the Third Quarter

Ruger lifted third-quarter sales 16.5% to $147.6 million and gross margin to 20.7%, yet shipped 46,500 more guns than distributors sold to retailers, whose purchases fell 4%. The margin gain looks durable, since Ruger credits cost control and mix and is dropping about $25 million of products that earned little, but part of the sales gain looks borrowed from the fourth quarter. The real test of the Ruger 2030 plan is sell-through, the number that went backward while shipments rose.