Graham Corp Q2: record revenue $53.6M, gross margin 23.9% (+790bps), backlog $407M, raises FY adj EBITDA guidance

GRAHAM CORP

2024-Q2 EPS reported $0.57 revenue$103,514,000

Record Q2 net sales $53.6M, +19% YoY; net income $3.3M ($0.30 diluted) vs $0.4M ($0.04) last year.
Gross margin expanded 790bps to 23.9%; adjusted EBITDA margin +550bps to 10.5%.
Orders $63.7M, book-to-bill 1.2x; backlog record $407M, +30% YoY.
Raised FY2025 gross margin guidance to 23-24% (from 22-23%) and adj EBITDA to $18-21M (from $16.5-19.5M).
Cash $32.3M, no debt; capex guidance increased to $13-18M for land and testing facility.

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