secwatch.observer — SEC 8-K summary
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Issuer:     GORMAN RUPP CO (GRC)
CIK:        0000042682
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0001193125-24-111944
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gorman-Rupp Q1 net income rises to $7.9M; record orders of $178.9M up 7% YoY
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- Net sales $159.3M (-0.7% YoY); net income $7.9M ($0.30 EPS) vs $6.5M ($0.25 EPS) prior year.
- Record incoming orders $178.9M, +7.1% YoY and +27.0% sequentially; backlog $234.2M.
- Gross margin expanded 200 bps to 30.4% on material cost improvements; SG&A up to 15.6% of sales.
- Operating margin up 90 bps to 12.8%; adjusted EBITDA $28.2M vs $28.4M in Q1 2023.
- Full-year capex guided $18-20M; net debt decreased $1.6M to $381.6M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/42682/000119312524111944/0001193125-24-111944-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/42682/000119312524111944/d823272d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-111944

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer