secwatch.observer — SEC 8-K summary
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Issuer:     GORMAN RUPP CO (GRC)
CIK:        0000042682
Form:       8-K
Filed at:   2024-07-26T23:59:59+00:00
Accession:  0001193125-24-186248
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gorman-Rupp Q2 adjusted EPS $0.54, up 32% YoY; record Adjusted EBITDA $35.4M
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- Q2 net sales $169.5M (-0.9% YoY); GAAP net income $8.3M ($0.32 EPS) vs $10.5M ($0.40) prior year.
- Adjusted EPS $0.54 vs $0.41; Adjusted EBITDA $35.4M (20.8% margin) up 4.9% from $33.7M.
- Completed debt refinancing May 31: upsized term loan to $370M, issued $30M 6.40% notes; expects annual interest savings >$7M.
- Incoming orders $162.5M (+5.5% YoY); backlog $224.4M; municipal sales +$6.7M, fire suppression -$8.0M on normalization.
- Gross margin improved 170 bps to 31.9%; six-month gross margin +190 bps to 31.2%; FY capex planned ~$20.0M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/42682/000119312524186248/0001193125-24-186248-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/42682/000119312524186248/d819816d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-186248

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