Gorman-Rupp Q3 net sales $167.5M (+8.9% YoY), net income $9.0M ($0.34 EPS) vs $2.2M

GORMAN RUPP CO

Net sales $167.5M, up 8.9% YoY; net income $9.0M ($0.34 EPS) vs $2.2M ($0.09 EPS) in Q3 2022.
Adjusted EBITDA $30.5M (+16% YoY); gross margin improved to 28.7% from 26.4%.
Total debt net of cash reduced $25.4M in Q3; capex plan ~$20M for 2023.
Backlog $237.5M (down from $266.7M year ago); incoming orders up 6.9% YTD.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

GORMAN RUPP CO reported the third quarter ended September 30, 2023 results: revenue $167.5 million, net income $9.0 million, EPS $0.34 per share.

Period: the third quarter ended September 30, 2023
Revenue: $167.5 million
Net income: $9.0 million
EPS: $0.34 per share
Result: reported results

Exact text from the filing

WIRE)--October 27, 2023--The Gorman-Rupp Company (NYSE: GRC) reports financial results for the third quarter ended September 30, 2023. Third Quarter 2023 Highlights Net sales of $167.5 million increased 8.9%, or $13.7 million, compared to the third quarter of 2022 Third quarter net income was $9.0 million, or $0.34 per share, compared to net income of $2.2 million, or

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Source: SEC EDGAR

accession 0001157523-23-001563

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