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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 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.
Graham (NYSE: GHM) has announced the filing of a universal shelf registration statement with the SEC, allowing the company to offer and sell up to $150 million of various securities. This move provides GHM with increased financial flexibility to meet long-term strategic goals and access capital markets efficiently.
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