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The Gorman-Rupp Company Common Shares - GRC STOCK NEWS

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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.

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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.

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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.

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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.

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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.

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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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The Gorman-Rupp Company (NYSE: GRC) declares a quarterly cash dividend of $0.18 per share, payable on June 10, 2024, to shareholders of record on May 15, 2024, marking the 297th consecutive quarterly dividend paid by the company.
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The Gorman-Rupp Company (NYSE: GRC) reported its first quarter 2024 financial results, highlighting a slight decrease in net sales, record incoming orders, and an increase in gross margin. Despite a decrease in international sales, the company saw growth in domestic sales across various markets. Operating income and net income also showed positive trends compared to the same period in 2023. The company's backlog of orders increased, driven by strong performance in the municipal market. Capital expenditures for 2024 are projected to be between $18 - $20 million.
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The Gorman-Rupp Company (NYSE: GRC) reported a strong financial performance for the fourth quarter and full year of 2023. Net sales for the fourth quarter of 2023 increased by 10.0% to $160.6 million, with net income of $9.0 million. Adjusted earnings per share for the fourth quarter were $0.34, compared to $0.11 in 2022. For the full year of 2023, net sales increased by 26.6% to $659.5 million, with net income of $35.0 million. Adjusted earnings per share for 2023 were $1.37, compared to $0.94 in 2022. The company also saw a significant improvement in Adjusted EBITDA to a record $121.7 million. The CEO highlighted the company's 90th anniversary, double-digit organic sales growth, and improvement in leverage.
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The Gorman-Rupp Company (GRC) has declared a quarterly cash dividend of $0.18 per share on the common shares of the Company, payable March 8, 2024, to shareholders of record February 15, 2024. This marks the 296th consecutive quarterly dividend paid by the company. The Board of Directors also announced the Annual Meeting of Shareholders scheduled for April 25, 2024, with a record date for shareholders entitled to notice of and to vote at the meeting set as February 26, 2024. The meeting will be in a virtual format only via webcast at 10:00 a.m. Eastern time.
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The Gorman-Rupp Company declares a quarterly cash dividend of $0.18 per share, representing a 2.9% increase over the previous quarter. This marks the 295th consecutive quarterly dividend and the 51st consecutive year of increased dividends.
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FAQ

What is the current stock price of The Gorman-Rupp Company Common Shares (GRC)?

The current stock price of The Gorman-Rupp Company Common Shares (GRC) is $39.13 as of December 20, 2024.

What is the market cap of The Gorman-Rupp Company Common Shares (GRC)?

The market cap of The Gorman-Rupp Company Common Shares (GRC) is approximately 1.0B.

What does The Gorman-Rupp Company specialize in?

The Gorman-Rupp Company specializes in designing and manufacturing a wide array of innovative pumps and pump systems for various applications including water, wastewater, construction, and industrial sectors.

Where does The Gorman-Rupp Company generate most of its revenue?

The Gorman-Rupp Company generates the majority of its revenue from the United States.

What industries does Gorman-Rupp serve?

Gorman-Rupp serves industries such as water, wastewater, construction, industrial, petroleum, original equipment, agriculture, fire protection, heating, HVAC, medical, food, and military applications.

What recent achievements has Gorman-Rupp made?

Recent achievements include the development of advanced pump technologies and the formation of strategic partnerships that enhance market reach and operational efficiency.

What is the primary business segment of The Gorman-Rupp Company?

The primary business segment of The Gorman-Rupp Company is the manufacture and sale of pumps and pump systems.

How does Gorman-Rupp maintain its competitive position?

Gorman-Rupp maintains its competitive position through innovation, quality products, customer satisfaction, and strategic market expansion.

What is the financial condition of The Gorman-Rupp Company?

The Gorman-Rupp Company maintains a robust financial condition with consistent revenue growth and profitability.

What makes Gorman-Rupp a trusted name in fluid-handling solutions?

Gorman-Rupp is a trusted name due to its extensive portfolio, quality products, and commitment to meeting diverse fluid-handling needs across various industries.

What current projects is Gorman-Rupp working on?

Current projects focus on expanding product lines and entering new markets to diversify revenue streams and strengthen competitive positioning.

Where can I find the latest news about The Gorman-Rupp Company?

You can find the latest news about The Gorman-Rupp Company on their official website or through financial news outlets that cover the company’s updates and developments.

The Gorman-Rupp Company Common Shares

NYSE:GRC

GRC Rankings

GRC Stock Data

1.04B
20.70M
21%
63.48%
0.34%
Specialty Industrial Machinery
Pumps & Pumping Equipment
Link
United States of America
MANSFIELD