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Graham Corporation reports developments tied to its engineered equipment business for the Defense, Energy & Process, and Space markets. The company designs and manufactures mission-critical fluid, power, heat transfer, vacuum, cryogenic pump, turbomachinery, and advanced mixing technologies, and also supports installed equipment with service and spare parts.
Company news commonly covers quarterly operating results, orders and backlog by end market, financial guidance, industrial and aerospace-defense conference presentations, acquisitions that expand technology capabilities, and management or governance updates. Recurring business themes include demand across defense, space, and process-industry applications, custom-engineered systems, and investments in automation, testing, and technical capabilities.
Graham (NYSE: GHM), a global leader in mission-critical technologies for defense, space, energy, and process industries, has announced its participation in the Midwest IDEAS Conference. The event will take place on August 29, 2024, at The Gwen in Chicago.
Key highlights:
- President and CEO Daniel J. Thoren and CFO Christopher J. Thome will represent GHM
- Company presentation scheduled for 10:45 a.m. Central Time
- Live audio webcast and slides will be available on GHM Investor Relations website
- An archive of the presentation will be accessible after the conference
This event provides an opportunity for investors to gain insights into GHM's operations, strategies, and future outlook directly from top executives.
Graham (NYSE: GHM) reported strong financial results for Q1 fiscal 2025, with net income increasing 12% to $3.0 million and gross margin expanding to 24.8%. The company achieved record quarterly net sales of $50.0 million, up 5% year-over-year, driven by strength in defense and refining markets. Orders totaled $55.8 million, resulting in a book-to-bill ratio of 1.1x and a backlog of nearly $400 million.
Key highlights include:
- Adjusted net income up 20% to $3.6 million
- Adjusted EBITDA of $5.1 million, or 10.3% of sales
- Strong balance sheet with no debt and $21.6 million in cash
- Reaffirmed fiscal 2025 guidance with net sales of $200-$210 million
The company's performance reflects successful execution of strategic initiatives, growth in the defense business, and improved operational efficiency.
Graham (NYSE: GHM) has secured three contracts totaling over $65 million in the defense and space industries. The contracts include:
1. Providing the MK19 Air Turbine Pump assembly for the Columbia-class submarine
2. Supplying cryogenic recirculation pumps for space launch vehicles
3. An additional option year for alternators and regulators supporting the MK48 Mod 7 Heavyweight Torpedo program
These contracts highlight GHM's expanded capabilities in serving the defense and space sectors. The company's Arvada, Colorado operations will manufacture the products, with revenue recognition spread over the next three to eight years.
Graham (NYSE: GHM) has been awarded $2.1 million to expand its welder training programs and related equipment. The contract, awarded by BlueForge Alliance, supports the U.S. Navy's Submarine Industrial Base initiatives. The funds will be used to increase production capacity at GHM's Batavia operation, including expanding its welding training program and increasing its skilled labor workforce by over 20%. GHM aims to complete this workforce expansion by early 2025 to support the U.S. Navy's submarine construction plans. This award reinforces GHM's position as a strategic supplier for the U.S. Navy's Submarine Industrial Base and demonstrates the company's commitment to enhancing its capabilities in the defense industry.
Graham (NYSE: GHM), a global leader in mission-critical fluid, power, heat transfer, and vacuum technologies for defense, space, energy, and process industries, has announced its first quarter fiscal year 2025 financial results conference call and webcast. The company will release its financial results on Wednesday, August 7, 2024, before the market opens.
The conference call and webcast are scheduled for 11:00 a.m. Eastern Time on the same day. Investors can access the call via phone at (201) 689-8560 or through the company's website at ir.grahamcorp.com. A telephonic replay will be available until August 14, 2024, by dialing (412) 317-6671 with conference ID 13746993. The webcast replay and transcript will also be accessible on the company's investor relations website.
Graham (NYSE: GHM), a global leader in fluid, power, heat transfer, and vacuum technologies, announced its inclusion in the Russell 2000® and Russell 3000® Indexes, effective June 28, 2024. This milestone reflects GHM's progress in boosting revenue growth and profitability. Membership in the Russell 3000® Index signifies automatic inclusion in the small-cap Russell 2000® Index, enhancing GHM's visibility, liquidity, and investor base. The annual Russell indexes reconstitution captures the largest U.S. stocks by market capitalization and is widely used for index funds and investment benchmarks, with approximately $9.1 trillion in assets benchmarked against Russell's U.S. indexes.
Graham (NYSE: GHM) reported strong financial results for the fiscal year ended March 31, 2024. The company's revenue grew 18% to a record $185.5 million, driven primarily by defense and aftermarket sales. Gross margin expanded by 570 basis points to 21.9%, while net income increased significantly to $4.6 million from $0.4 million in the prior year. Adjusted EBITDA reached $13.3 million, a 56% increase. The fourth quarter saw a 14% rise in revenue to $49.1 million, with gross margin improving by 930 basis points. The company paid off its entire $12.5 million debt during the year. Looking ahead, Graham projects fiscal 2025 revenue to be between $200 million to $210 million, with adjusted EBITDA expected to range from $16.5 million to $19.5 million, reflecting continued growth and profitability improvements.
Graham (NYSE: GHM), a leading global company in fluid, power, heat transfer, and vacuum technologies, will present at the Sidoti Small-Cap Virtual Conference on June 13, 2024.
CEO Daniel J. Thoren and CFO Christopher J. Thome will represent the company. The presentation starts at 10:00 a.m. Eastern Time and will be webcast live with slides. An archived version will be available post-event on the GHM Investor Relations site.
Graham (NYSE: GHM), a leading provider of fluid, power, heat transfer, and vacuum technologies, has secured $17 million in orders for energy and petrochemical expansion projects in North America and the Middle East. The North American project involves creating the world's first net-zero carbon emissions ethylene cracker and derivatives site, utilizing Graham's advanced surface condensers. This order was received in April 2024, with revenue expected in fiscal 2025 and 2026. The Middle Eastern project includes a vacuum system for a crude to chemical vacuum distillation tower, enhancing Group II and III Base Oils production. This order was received in March 2024, with revenue to be recognized in fiscal 2025.
Graham (NYSE: GHM), a leader in fluid, power, heat transfer, and vacuum technologies for various industries, will release its Q4 and fiscal year 2024 financial results on Friday, June 7, 2024, before the market opens.
The company will hold a conference call and webcast at 11:00 a.m. ET to discuss the results, strategies, and outlook. The call will include a Q&A session.
A replay will be available from 3:00 p.m. ET on June 7 until June 14, 2024. Access to the replay is available through the company's website or by dialing a provided phone number with the conference ID.