Graham Q2 sales up 12% to $38.1M, record backlog $313M, reaffirms FY2023 guidance

GRAHAM CORP

2022-Q2 EPS reported $0.05 revenue$74,218,000

Net loss $0.2M ($0.02 diluted loss); adjusted diluted EPS $0.03; adjusted EBITDA $1.5M vs $0.1M prior year.
Record orders of $91.5M (book-to-bill 2.4x); backlog $313.3M, up 20% sequentially with 79% defense.
Gross margin improved to 13.8% from 10.1% on better mix and execution.
Revenue guidance reaffirmed: $135M-$150M; adjusted EBITDA $6.5M-$9.5M.
Defense orders $69.6M driven by repeat U.S. Navy programs; expects first article projects to complete by Q1 FY2024.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GRAHAM CORP reported second quarter ended September 30, 2022 results: revenue $38.1 million, net income Net loss was $196 thousand, EPS diluted earnings per share (“EPS”) was a loss of $0.02 per share. Guidance reaffirmed.

Period: second quarter ended September 30, 2022
Revenue: $38.1 million
Net income: Net loss was $196 thousand
EPS: diluted earnings per share (“EPS”) was a loss of $0.02 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

RELEASE G RAHAM C ORPORATION R EPORTS S ECOND Q UARTER F ISCAL 2023 S ALES G ROWTH OF 12% AND R ECORD B ACKLOG OF $313 MILLION ● S ECOND QUARTER SALES INCREASED $4.0 MILLION TO $38.1 MILLION OVER THE PRIOR - YEAR PERIOD REFLECTING SOLID GROWTH IN SPACE AND R EFINING /P ETROCHEMICAL C OMMERCIAL A FTERMARKET ● D EFENSE , SPACE AND OTHER COMMERCIAL REPRESENTED 65% OF

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Source: SEC EDGAR

accession 0001193125-22-278469

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