Graham Corp Q3 revenue $39.9M (+39% YoY); raises FY23 revenue guidance to $145-155M

GRAHAM CORP

2022-Q3 EPS reported $0.08 revenue$114,091,000

Net income $368K ($0.03 diluted EPS) vs prior-year loss of $3.7M; adjusted EBITDA $2.2M.
Defense revenue up $5.1M YoY; shipped 4th first article unit to US Navy, on schedule for remaining by Q2 FY2024.
Raised FY2023 revenue guidance to $145-155M (from $135-150M); tightened adjusted EBITDA guidance to $7.5-8.5M.
Quarterly orders $20M (down 71% YoY) due to large contract timing; backlog $293.7M (+8% YoY), 80% defense.
Reduced debt by $5M to $14.2M; bank leverage ratio down to 2.5x; operating cash flow $9.3M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GRAHAM CORP reported third quarter ended December 31, 2022 results: revenue $39.9 million, net income $368 thousand, EPS $0.03 on a per diluted share basis. Guidance raised.

Period: third quarter ended December 31, 2022
Revenue: $39.9 million
Net income: $368 thousand
EPS: $0.03 on a per diluted share basis
Guidance: raised
Result: reported results

Exact text from the filing

--- EX-99.1 Exhibit 99.1 News Release Graham Corporation ◆ 20 Florence Avenue ◆ Batavia, NY 14020 IMMEDIATE RELEASE G RAHAM C ORPORATION E XECUTING TO P LAN AND D ELIVERS $39.9 MILLION IN R EVENUE FOR T HIRD Q UARTER F ISCAL 2023 • T HIRD QUARTER SALES INCREASED 39%, OR $11.1 MILLION , TO $39.9 MILLION OVER PRIOR - YEAR PERIOD REFLECTING SOLID EXECUTION ON

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Source: SEC EDGAR

accession 0001193125-23-024874

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