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Graham Corporation (GHM) is a renowned leader in the design and manufacturing of vacuum and heat transfer equipment, catering to a broad spectrum of process industries worldwide. With a commitment to product quality and customer satisfaction, Graham Corporation plays a pivotal role in the production of everyday essential goods. The company provides critical products such as ejectors, surface condensers, turbopumps, compressors, and liquid vacuum pumps.
Graham's equipment is integral to the production processes in industries such as synthetic fibers, chemicals, petroleum, electric power, processed food, pharmaceuticals, paper, steel, and fertilizers. The company's primary markets include petroleum refining, chemical and petrochemical industries, and electric power generation, with notable involvement in cogeneration and geothermal power.
Beyond its primary markets, Graham Corporation also serves the metal refining, pulp and paper, shipbuilding, water heating, refrigeration, desalination, food processing, pharmaceutical, and HVAC industries. The company's brand is synonymous with engineering expertise in vacuum systems and heat transfer, a dedication to outstanding product quality, and a relentless focus on meeting customer needs.
Recent achievements highlight Graham's strategic contributions to the defense sector, where its equipment is utilized in nuclear propulsion systems for the U.S. Navy. In the chemical and petrochemical sectors, Graham's solutions are essential in the production of fertilizers, ethylene, methanol, and various downstream chemicals.
Despite the challenging economic landscape, Graham Corporation has showcased robust financial performance, driven by its innovative product suite and strategic market positioning. Key revenue streams are derived from both domestic and international markets, with a significant portion originating from the U.S.
Graham Corporation's commitment to excellence and innovation continues to drive its growth and influence across diverse industries, ensuring its products remain crucial to modern industrial processes.
Graham Corporation (NYSE: GHM) reported a 22% increase in revenue to $34.1 million for Q2 FY22, driven by the acquisition of Barber-Nichols (BN). Orders surged 50% sequentially to $31.4 million, with a backlog of $233.2 million, 78% from defense projects. However, profits declined, with a net loss of $0.5 million and a gross margin drop to 10.1%. SG&A expenses rose 23% due to BN. Fiscal 2022 revenue guidance remains at $130-$140 million, with 45%-50% from defense.
Graham Corporation (NYSE: GHM) has declared a quarterly cash dividend of $0.11 per common share. This dividend is payable on November 23, 2021, to stockholders of record as of November 9, 2021. Graham Corporation is recognized for designing and manufacturing essential equipment for various sectors, including defense and energy. This dividend announcement reflects the company's commitment to returning value to shareholders while emphasizing its ongoing operations in critical industrial sectors.
Graham Corporation (NYSE: GHM) will release its second quarter fiscal year 2022 financial results on October 27, 2021, before market opening. The company will hold a conference call at 11:00 a.m. ET to discuss its financial performance, strategy, and future outlook. A question-and-answer segment will follow the presentation. Interested parties can access the call via phone or an internet webcast. A replay will be available from 2:00 p.m. ET on the same day through November 3, 2021.
Graham Corporation (NYSE: GHM) will present at the Sidoti Fall 2021 Virtual Small Cap Conference on September 22, 2021, at 4:00 p.m. Eastern Time. The company specializes in designing, manufacturing, and selling essential equipment for the defense, energy, and chemical sectors. With a reputation for engineering excellence in vacuum and heat transfer technologies, Graham remains committed to quality service and innovation. Additional details can be found on their website.
Graham Corporation (NYSE: GHM) reported over $20 million in orders for the second quarter of fiscal 2022, driven by demand in defense/space, energy, and chemical industries. Key highlights include $10 million related to the defense sector, with notable projects like $1.2 million for cooling pumps in space applications. 40% of this revenue will be recognized in fiscal 2022, supporting guidance of $130 million to $140 million for the year.
The company is encouraged by order momentum and a promising pipeline despite past weaknesses in refining and chemical markets.
Graham Corporation (NYSE: GHM) announces participation in the 12th Annual Midwest IDEAS Investor Conference on August 26, 2021. Key executives, Daniel J. Thoren and Jeffrey F. Glajch, will present virtually, with a webcast available starting at 8:00 AM ET on August 25, 2021. Investors can access the presentation via the conference website and Graham's investor relations page. The presentation will remain accessible for 90 days. Graham Corporation specializes in high-engineered equipment for various industries, emphasizing engineering expertise and quality service.
Graham Corporation (NYSE: GHM) reported Q1 fiscal 2022 net sales of $20.2 million, a 21% increase driven by the acquisition of Barber-Nichols (BN) and higher sales in the refining sector. However, gross profit declined to $0.9 million with a 4.5% margin. The company faced a net loss of $3.1 million and an operating loss of $3.8 million. The backlog reached $235.9 million, with strong demand from defense projects. Fiscal 2022 revenue guidance remains at $130 million to $140 million, with optimism for stronger margins in the future.
Graham Corporation (NYSE: GHM) has appointed Daniel J. Thoren as President and CEO, effective September 1, 2021. Thoren, previously President and COO, succeeds James R. Lines, who is retiring after 37 years with the company. Thoren aims to drive growth in the defense and energy markets, capitalizing on the leadership benefits gained from the recent acquisition of Barber-Nichols. The company has experienced expansion under Lines, particularly in cash generation and market presence, positioning it for future improvements under Thoren's leadership.
Graham Corporation (NYSE: GHM) has declared a quarterly cash dividend of $0.11 per common share. This dividend is scheduled for payment on August 25, 2021, to stockholders of record by August 11, 2021. Graham is recognized for its critical equipment manufacturing for sectors including energy, defense, and chemical/petrochemical industries, with a commitment to quality and engineering excellence through its subsidiary, Barber-Nichols LLC.
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