Graham Corp Q2 sales $45.1M (+18% YoY); net income $0.4M vs loss; adj. EBITDA $2.7M

GRAHAM CORP

2024-Q2 EPS reported $0.28 revenue$92,645,000

Defense market sales up 69% to $25.1M; aftermarket sales to refining/petrochemical record $10.8M (+74%).
Gross margin expanded 220 bps to 16.0%; net income $0.04/diluted share vs ($0.02).
Backlog $313.3M, 80% defense; FY2024 guidance reiterated: revenue $170-180M, adj. EBITDA $11.5-13.5M.
Post-quarter closed new $50M revolver; paid off $11.5M term loan, leaving zero debt outstanding.

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 second quarter ended September 30, 2023 results: revenue $45.1 million, net income $0.4 million, EPS $0.04 per diluted share.

Period: second quarter ended September 30, 2023
Revenue: $45.1 million
Net income: $0.4 million
EPS: $0.04 per diluted share
Result: reported results

Exact text from the filing

per diluted share, as well as the reconciliation of net income to adjusted EBITDA, adjusted net income (loss), and adjusted net income (loss) per diluted share. Net sales of $45.1 million increased 18.2%, or $7.0 million. Sales to the defense market increased $10.3 million, or 69%, reflecting more direct labor, better execution, the timing of material receipts,

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Source: SEC EDGAR

accession 0001193125-23-270837

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