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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.
The Gorman-Rupp Company (NYSE: GRC) reported strong financial results for the first quarter ended
The Gorman-Rupp Company (NYSE: GRC) announced its financial results for Q4 and FY 2022. Net sales reached $146.0 million for Q4, a 55.0% increase from the previous year. However, net income dropped to $2.4 million or $0.09 per share, down from $6.5 million or $0.25 per share in Q4 2021. Adjusted EBITDA rose 104% to $28.5 million. For FY 2022, sales totaled $521.0 million, up 37.7%, while net income fell to $11.2 million, or $0.43 per share, down from $29.9 million or $1.14 per share in 2021. The increase in sales was primarily driven by the Fill-Rite acquisition, contributing $87.4 million in sales since May 2022.
The Gorman-Rupp Company (NYSE: GRC) has declared a quarterly cash dividend of $0.175 per share, payable on March 10, 2023, to shareholders of record as of February 15, 2023. This marks the 292nd consecutive quarterly dividend. The Board announced an Annual Meeting of Shareholders on April 27, 2023, with a record date of February 27, 2023. Director Rick R. Taylor will not stand for re-election at the upcoming meeting.
As a prominent provider of pumps and liquid-handling systems, Gorman-Rupp's announcements reflect ongoing shareholder returns and corporate governance updates.
The Gorman-Rupp Company (NYSE: GRC) has declared a quarterly cash dividend of $0.175 per share, payable on December 9, 2022, to shareholders on record as of November 15, 2022. This marks a 2.9% increase from the previous quarter's dividend of $0.17. The upcoming payment signifies the company’s 291st consecutive quarterly dividend and celebrates its 50th consecutive year of increased dividends, placing it among the top 50 U.S. public companies for longevity in dividend increases.
The Gorman-Rupp Company (NYSE: GRC) reported a net sales increase of 50.6% to $153.8 million for Q3 2022, driven by the Fill-Rite acquisition. However, net income fell to $2.2 million ($0.09/share), down from $8.8 million ($0.34/share) a year earlier. Adjusted EPS dropped to $0.25 from $0.35 due to non-cash amortization expenses and a LIFO impact. Adjusted EBITDA rose 56.3% to $22.5 million. Strong demand resulted in a backlog of $266.7 million. Despite the strong revenue growth, rising costs and diminished profit margins could affect future performance.
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