earnings
confidence high
sentiment neutral
materiality 0.80
Gorman-Rupp reports Q2 net loss of $1.0M due to Fill-Rite costs; revenue up 28%
GORMAN RUPP CO
- Q2 net loss $1.0M ($0.04 loss per share) vs. net income $7.1M in Q2 2021; adjusted EPS $0.27 vs. $0.32.
- Revenue $119.1M, +28% YoY (+13.4% organic); Fill-Rite contributed $13.6M from May 31 close.
- Completed $526.3M acquisition of Fill-Rite on May 31, funded with $440M term loans and cash.
- Backlog $264.7M, +$69.2M in Q2 including $14.7M from Fill-Rite; orders up 44.5% in Q2.
- Operating income includes $6.9M acquisition costs and $1.4M inventory step-up; adjusted EBITDA up 13.2% to $15.4M.