Gorman-Rupp Q4 sales up 55% to $146M; GAAP EPS drops to $0.09

GORMAN RUPP CO

Q4 net sales $146.0M (+55% YoY); organic growth 19.3% excluding Fill-Rite acquisition.
Q4 GAAP net income $2.4M ($0.09 EPS) vs $6.5M ($0.25) in Q4 2021.
Full-year 2022 sales $521.0M (+37.7%); adjusted EPS $0.94 vs $1.21 in 2021.
Backlog at Dec 31, 2022: $267.4M, up 43.8% from 2021, driven by strong orders and Fill-Rite.
Interest expense $19.2M in 2022 ($0 in 2021) due to Fill-Rite acquisition debt.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

GORMAN RUPP CO reported the fourth quarter ended December 31, 2022 results: revenue $146.0 million, net income $2.4 million, EPS $0.09 per share.

Period: the fourth quarter ended December 31, 2022
Revenue: $146.0 million
Net income: $2.4 million
EPS: $0.09 per share
Result: reported results

Exact text from the filing

Net sales of $146.0 million increased 55.0% or $51.8 million compared to the fourth quarter of 2021, a 19.3% increase excluding sales from Fill-Rite which was acquired in May 2022 Fourth quarter net income was $2.4 million, or $0.09 per share, compared to net income of $6.5 million, or $0.25 per share, for the fourth quarter of 2021

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

GORMAN RUPP CO reported the year ended December 31, 2022 results: revenue $521.0 million, net income $11.2 million, EPS $0.43 per share.

Period: the year ended December 31, 2022
Revenue: $521.0 million
Net income: $11.2 million
EPS: $0.43 per share
Result: reported results

Exact text from the filing

Net sales of $521.0 million increased 37.7% or $142.7 million compared to 2021, a 14.6% increase excluding sales from Fill-Rite which was acquired in May 2022 Net income was $11.2 million, or $0.43 per share, compared to net income of $29.9 million, or $1.14 per share, for 2021

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Source: SEC EDGAR

accession 0001157523-23-000162

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