Gorman-Rupp Q3 net sales up 50.6% to $153.8M; net income falls to $2.2M on acquisition costs and pension charges

GORMAN RUPP CO

Net sales $153.8M (+50.6% YoY); organic growth 11.3% excluding Fill-Rite acquisition.
GAAP net income $2.2M ($0.09 EPS) vs $8.8M ($0.34 EPS) in Q3 2021; adjusted EPS $0.25.
Fill-Rite contributed $40.1M sales and $8.4M adjusted EBITDA in its first full quarter.
Adjusted EBITDA rose 56.3% to $22.5M; backlog $266.7M, up from $156.5M a year ago.
Full-year capex guided $15-18M; management cites strong demand and ongoing pricing actions.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GORMAN RUPP CO reported the third quarter ended September 30, 2022 results: revenue $153.8 million, net income $2.2 million, EPS $0.09 per share.

Period: the third quarter ended September 30, 2022
Revenue: $153.8 million
Net income: $2.2 million
EPS: $0.09 per share
Result: reported results

Exact text from the filing

Net sales of $153.8 million increased 50.6% or $51.7 million compared to the third quarter of 2021, an 11.3% increase excluding sales from Fill-Rite which was acquired in May 2022 Third quarter net income was $2.2 million, or $0.09 per share, compared to net income of $8.8 million, or $0.34 per share, for the third quarter of 2021

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GORMAN RUPP CO reported the nine months ended September 30, 2022 results: revenue $375.0 million.

Period: the nine months ended September 30, 2022
Revenue: $375.0 million
Result: reported results

Exact text from the filing

Net sales for the first nine months of 2022 were $375.0 million compared to net sales of $284.2 million for the first nine months of 2021, an increase of 32.0% or $90.9 million.

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Source: SEC EDGAR

accession 0001157523-22-001423

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