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The Gorman-Rupp Company (symbol: GRC) is a leading designer and manufacturer of a wide variety of innovative pumps and pump systems. These products serve diverse applications such as water, wastewater, construction, industrial, petroleum, original equipment, agriculture, fire protection, heating, HVAC, medical, food, and military sectors. With an extensive portfolio and worldwide sales, Gorman-Rupp stands out as a trusted name in fluid-handling solutions.
The company operates primarily in the business segment of manufacturing and selling pumps and pump systems. It generates most of its revenue from the United States, demonstrating strong domestic market performance. Gorman-Rupp has established a reputation for quality and reliability, making it a go-to choice for meeting various fluid-handling needs.
Recent achievements include the development of advanced pump technologies and strategic partnerships that enhance its market reach and operational efficiency. Current projects focus on expanding product lines and entering new markets to diversify its revenue streams and strengthen its competitive position.
Financially, Gorman-Rupp maintains a robust condition with consistent revenue growth and profitability. The company’s dedication to innovation and customer satisfaction ensures it remains at the forefront of the industry, delivering high-quality, dependable products.
For investors looking to stay updated, The Gorman-Rupp Company frequently releases news about its latest products, financial results, and corporate developments. This makes it easier to monitor the company’s progress and strategic initiatives.
Gorman-Rupp (NYSE: GRC) reported its Q4 and full-year 2024 financial results. Q4 net sales increased 1.3% to $162.7 million, with net income rising to $11.0 million ($0.42 per share) compared to $9.0 million ($0.34 per share) in Q4 2023. Full-year 2024 net sales marginally increased 0.1% to $659.7 million, while net income reached $40.1 million ($1.53 per share).
The company completed significant debt refinancing in May 2024, reducing interest expenses and improving leverage. Q4 incoming orders increased 15.8% compared to Q4 2023. Municipal market sales grew by $21.5 million in 2024, while fire suppression sales decreased by $22.1 million as backlog returned to normal levels. The company reduced total debt by $43.0 million during 2024 and maintained its 52-year streak of dividend increases.
Gorman-Rupp Company (NYSE: GRC) has announced its quarterly cash dividend of $0.185 per share, payable March 10, 2025, to shareholders of record February 14, 2025. This marks the company's 300th consecutive quarterly dividend payment, demonstrating a strong history of shareholder returns.
The company also announced its Annual Meeting of Shareholders, scheduled for April 24, 2025, at 10:00 a.m. Eastern time. The meeting will be held virtually via webcast, with February 24, 2025, set as the record date for shareholder voting eligibility.
The Gorman-Rupp Company (NYSE: GRC) has announced a 2.8% increase in its quarterly cash dividend to $0.185 per share, up from $0.18 in the previous quarter. The dividend is payable December 10, 2024, to shareholders of record November 15, 2024. This marks the company's 299th consecutive quarterly dividend and 52nd consecutive year of increased dividends, placing Gorman-Rupp among the top 50 U.S. public companies for consecutive years of dividend increases.
Gorman-Rupp (NYSE: GRC) reported Q3 2024 financial results with net sales of $168.2 million, a 0.4% increase from Q3 2023. Net income rose to $12.9 million ($0.49 per share), up from $9.0 million ($0.34 per share) in Q3 2023. The company achieved a 260 basis point improvement in gross margin to 31.3% and reduced interest expense by 25.9%. Sales growth was driven by increases in municipal, repair, OEM, and petroleum markets, offset by decreases in fire suppression, industrial, construction, and agriculture markets. The company's backlog stood at $207.8 million, with incoming orders up 4.1% year-to-date.
Gorman-Rupp (NYSE: GRC) reported Q2 2024 financial results with net sales of $169.5 million, down 0.9% year-over-year. Net income was $8.3 million ($0.32 per share), compared to $10.5 million ($0.40 per share) in Q2 2023. Adjusted earnings per share improved to $0.54 from $0.41 last year. Key highlights include:
- Record Adjusted EBITDA of $35.4 million, up 4.9% year-over-year
- Incoming orders increased 5.5% to $162.5 million
- Gross margin improved 170 basis points to 31.9%
- Completed debt refinancing expected to reduce annual interest expense by over $7 million
The company saw sales increases in municipal, OEM, repair, and petroleum markets, offset by decreases in fire suppression, agriculture, industrial, and construction markets. Management remains focused on top-line growth and margin improvement in the second half of 2024.
The Gorman-Rupp Company (NYSE: GRC), a leading pump manufacturer, has declared a quarterly cash dividend of $0.18 per share on its common stock. The dividend is payable on September 10, 2024, to shareholders of record as of August 15, 2024. This marks the 298th consecutive quarterly dividend paid by the company, highlighting its consistent commitment to shareholder returns.
Founded in 1933, Gorman-Rupp designs, manufactures, and markets pumps and pump systems for various applications, including water, wastewater, construction, industrial, petroleum, agriculture, fire suppression, HVAC, and military uses. The company's long-standing dividend history demonstrates its financial stability and dedication to rewarding investors.
The Gorman-Rupp Company (NYSE: GRC) has completed a series of debt refinancing transactions aimed at reducing interest expenses and extending debt maturities. Key highlights include upsizing and extending the Senior Term Loan Facility to $370.0 million, extending the $100.0 million revolving Credit Facility, issuing $30.0 million in new Senior Secured Notes with a 6.40% interest rate due 2031, and retiring a $90.0 million unsecured Subordinated Credit Facility. The combined transactions are expected to reduce annual interest expenses by $7.0 million. However, the company will incur a $1.8 million prepayment fee and a $4.4 million non-cash charge for unamortized deferred transaction fees. The changes are part of the company's strategy to improve leverage following the acquisition of Fill-Rite in May 2022.
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