Gorman-Rupp Q3 net income up 44%; Executive Chairman to non-executive role

GORMAN RUPP CO

2025-Q3 EPS reported $1.11 vs consensus $0.57 ▲ beat (+94.5%)

Q3 net income $12.9M ($0.49/share) vs $9.0M ($0.34) in Q3 2023, a 44% increase.
Net sales $168.2M up 0.4%; gross margin improved 260 bps to 31.3%.
Interest expense down $2.7M to $7.8M due to May 2024 refinancing.
Backlog $207.8M at Sep 30 vs $237.5M a year ago; incoming orders up 4.1% YTD.
Jeffrey S. Gorman to step down as Executive Chairman to non-executive Chairman effective Jan 3, 2025.

item 2.02 item 5.02 item 9.01

Executive movements

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Role change

Jeffrey S. Gorman

Chairman of the Board

GRC · GORMAN RUPP CO

Effective: 2025-01-03
Filed: October 25, 2024, 7:59 PM ET

Jeffrey S. Gorman notified the Board of Directors of the Company that, effective January 3, 2025, he will transition from Executive Chairman of the Board to Chairman of the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jeffrey S. Gorman changed role as Chairman of the Board at GORMAN RUPP CO.

Action: transition
Role: Chairman of the Board

Exact text from the filing

Jeffrey S. Gorman notified the Board of Directors of the Company that, effective January 3, 2025, he will transition from Executive Chairman of the Board to Chairman of the Board.

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GORMAN RUPP CO filing history →

Source: SEC EDGAR

accession 0001437749-24-032093

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