Welcome to our dedicated page for Gorman-Rupp Co news (Ticker: GRC), a resource for investors and traders seeking the latest updates and insights on Gorman-Rupp Co stock.
Gorman-Rupp Co (GRC) delivers essential pump system solutions for water management, industrial operations, and critical infrastructure projects worldwide. This news hub provides investors and industry professionals with comprehensive updates on corporate developments, technical innovations, and market positioning.
Access timely updates including earnings reports, product launches, strategic partnerships, and operational milestones. Our curated collection features press releases about fluid-handling advancements, manufacturing expansions, and sustainability initiatives that demonstrate GRC's engineering leadership.
Key content includes:
• Quarterly financial performance
• New pump system developments
• Industry-specific application breakthroughs
• Regulatory compliance updates
• Global market expansion news
Bookmark this page for direct access to verified information about GRC's contributions to water infrastructure, construction technology, and industrial fluid management. Regularly updated to serve as your primary resource for understanding this pump manufacturer's evolving role in essential industries.
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.
The Gorman-Rupp Company (NYSE: GRC) has declared a quarterly cash dividend of $0.17 per share, payable on September 9, 2022, to shareholders of record as of August 15, 2022. This payment marks the company's 290th consecutive quarterly dividend, underscoring its commitment to returning value to shareholders. Founded in 1933, Gorman-Rupp specializes in pumps and pump systems across various sectors, including water, wastewater, and industrial applications.
The Gorman-Rupp Company (GRC) reported a net loss of $1.0 million or $0.04 per share for Q2 2022, in contrast to a net income of $7.1 million or $0.27 per share in Q2 2021. Net sales rose 28.0% to $119.1 million, aided by the Fill-Rite acquisition, which contributed $13.6 million in sales post-acquisition. Adjusted EBITDA increased 13.2% to $15.4 million. However, gross margin fell to 23.7%, a decline attributed to increased material costs. The backlog grew to $264.7 million, indicating robust order levels, with significant increases noted across multiple markets.
The Gorman-Rupp Company (NYSE: GRC) announced the completion of its acquisition of Fill-Rite and Sotera from Tuthill Corporation for $525 million, resulting in a net transaction value of approximately $445 million after anticipated tax benefits. The acquisition was funded through existing cash and new debt, including a $350 million term loan and a $90 million subordinated term loan. Fill-Rite, well-regarded in the pump market, adds to Gorman-Rupp's portfolio, promising future synergies and growth opportunities.
The Gorman-Rupp Company (NYSE: GRC) has declared a quarterly cash dividend of
The Gorman-Rupp Company (NYSE: GRC) has announced its acquisition of Fill-Rite and Sotera, a division of Tuthill Corporation, for
The Gorman-Rupp Company (NYSE: GRC) reported a 14.8% increase in net sales for Q1 2022, reaching $102.2 million, compared to $89.0 million in Q1 2021. Earnings per share rose to $0.29, up from $0.28, despite an unfavorable LIFO impact. Incoming orders increased 9.6% to $112.0 million, while backlog surged 55.7% to $195.5 million. Operating income was $9.5 million with a margin of 9.3%. SG&A expenses rose by 14%, tied to higher payroll and travel costs. The company projects continued top-line growth, though inflationary pressures on materials persist.
