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The Gorman-Rupp Company - GRC STOCK NEWS

Welcome to our dedicated page for The Gorman-Rupp Company news (Ticker: GRC), a resource for investors and traders seeking the latest updates and insights on The Gorman-Rupp Company stock.

The Gorman-Rupp Company (symbol: GRC) is a leading designer and manufacturer of a wide variety of innovative pumps and pump systems. These products serve diverse applications such as water, wastewater, construction, industrial, petroleum, original equipment, agriculture, fire protection, heating, HVAC, medical, food, and military sectors. With an extensive portfolio and worldwide sales, Gorman-Rupp stands out as a trusted name in fluid-handling solutions.

The company operates primarily in the business segment of manufacturing and selling pumps and pump systems. It generates most of its revenue from the United States, demonstrating strong domestic market performance. Gorman-Rupp has established a reputation for quality and reliability, making it a go-to choice for meeting various fluid-handling needs.

Recent achievements include the development of advanced pump technologies and strategic partnerships that enhance its market reach and operational efficiency. Current projects focus on expanding product lines and entering new markets to diversify its revenue streams and strengthen its competitive position.

Financially, Gorman-Rupp maintains a robust condition with consistent revenue growth and profitability. The company’s dedication to innovation and customer satisfaction ensures it remains at the forefront of the industry, delivering high-quality, dependable products.

For investors looking to stay updated, The Gorman-Rupp Company frequently releases news about its latest products, financial results, and corporate developments. This makes it easier to monitor the company’s progress and strategic initiatives.

News
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The Gorman-Rupp Company (NYSE: GRC) has completed a series of debt refinancing transactions aimed at reducing interest expenses and extending debt maturities. Key highlights include upsizing and extending the Senior Term Loan Facility to $370.0 million, extending the $100.0 million revolving Credit Facility, issuing $30.0 million in new Senior Secured Notes with a 6.40% interest rate due 2031, and retiring a $90.0 million unsecured Subordinated Credit Facility. The combined transactions are expected to reduce annual interest expenses by $7.0 million. However, the company will incur a $1.8 million prepayment fee and a $4.4 million non-cash charge for unamortized deferred transaction fees. The changes are part of the company's strategy to improve leverage following the acquisition of Fill-Rite in May 2022.

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The Gorman-Rupp Company (NYSE: GRC) declares a quarterly cash dividend of $0.18 per share, payable on June 10, 2024, to shareholders of record on May 15, 2024, marking the 297th consecutive quarterly dividend paid by the company.
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The Gorman-Rupp Company (NYSE: GRC) reported its first quarter 2024 financial results, highlighting a slight decrease in net sales, record incoming orders, and an increase in gross margin. Despite a decrease in international sales, the company saw growth in domestic sales across various markets. Operating income and net income also showed positive trends compared to the same period in 2023. The company's backlog of orders increased, driven by strong performance in the municipal market. Capital expenditures for 2024 are projected to be between $18 - $20 million.
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The Gorman-Rupp Company (NYSE: GRC) reported a strong financial performance for the fourth quarter and full year of 2023. Net sales for the fourth quarter of 2023 increased by 10.0% to $160.6 million, with net income of $9.0 million. Adjusted earnings per share for the fourth quarter were $0.34, compared to $0.11 in 2022. For the full year of 2023, net sales increased by 26.6% to $659.5 million, with net income of $35.0 million. Adjusted earnings per share for 2023 were $1.37, compared to $0.94 in 2022. The company also saw a significant improvement in Adjusted EBITDA to a record $121.7 million. The CEO highlighted the company's 90th anniversary, double-digit organic sales growth, and improvement in leverage.
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The Gorman-Rupp Company (GRC) has declared a quarterly cash dividend of $0.18 per share on the common shares of the Company, payable March 8, 2024, to shareholders of record February 15, 2024. This marks the 296th consecutive quarterly dividend paid by the company. The Board of Directors also announced the Annual Meeting of Shareholders scheduled for April 25, 2024, with a record date for shareholders entitled to notice of and to vote at the meeting set as February 26, 2024. The meeting will be in a virtual format only via webcast at 10:00 a.m. Eastern time.
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The Gorman-Rupp Company declares a quarterly cash dividend of $0.18 per share, representing a 2.9% increase over the previous quarter. This marks the 295th consecutive quarterly dividend and the 51st consecutive year of increased dividends.
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The Gorman-Rupp Company (NYSE: GRC) reports financial results for the third quarter ended September 30, 2023. Net sales increased 8.9% to $167.5 million compared to the same period last year. Net income was $9.0 million, compared to $2.2 million in the third quarter of 2022. Adjusted EBITDA increased 16.0% to $30.5 million. Total debt decreased by $25.4 million during the quarter.
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FAQ

What does The Gorman-Rupp Company specialize in?

The Gorman-Rupp Company specializes in designing and manufacturing a wide array of innovative pumps and pump systems for various applications including water, wastewater, construction, and industrial sectors.

Where does The Gorman-Rupp Company generate most of its revenue?

The Gorman-Rupp Company generates the majority of its revenue from the United States.

What industries does Gorman-Rupp serve?

Gorman-Rupp serves industries such as water, wastewater, construction, industrial, petroleum, original equipment, agriculture, fire protection, heating, HVAC, medical, food, and military applications.

What recent achievements has Gorman-Rupp made?

Recent achievements include the development of advanced pump technologies and the formation of strategic partnerships that enhance market reach and operational efficiency.

What is the primary business segment of The Gorman-Rupp Company?

The primary business segment of The Gorman-Rupp Company is the manufacture and sale of pumps and pump systems.

How does Gorman-Rupp maintain its competitive position?

Gorman-Rupp maintains its competitive position through innovation, quality products, customer satisfaction, and strategic market expansion.

What is the financial condition of The Gorman-Rupp Company?

The Gorman-Rupp Company maintains a robust financial condition with consistent revenue growth and profitability.

What makes Gorman-Rupp a trusted name in fluid-handling solutions?

Gorman-Rupp is a trusted name due to its extensive portfolio, quality products, and commitment to meeting diverse fluid-handling needs across various industries.

What current projects is Gorman-Rupp working on?

Current projects focus on expanding product lines and entering new markets to diversify revenue streams and strengthen competitive positioning.

Where can I find the latest news about The Gorman-Rupp Company?

You can find the latest news about The Gorman-Rupp Company on their official website or through financial news outlets that cover the company’s updates and developments.

The Gorman-Rupp Company

NYSE:GRC

GRC Rankings

GRC Stock Data

1.05B
26.21M
21.01%
60.01%
1.01%
Pump and Pumping Equipment Manufacturing
Manufacturing
Link
United States of America
MANSFIELD