Welcome to our dedicated page for Gorman-Rupp Co news (Ticker: GRC), a resource for investors and traders seeking the latest updates and insights on Gorman-Rupp Co stock.
The Gorman-Rupp Company (NYSE: GRC) is a pump and pumping equipment manufacturer that designs, manufactures and markets pumps and pump systems for water, wastewater, construction, dewatering, industrial, petroleum, original equipment, agriculture, fire suppression, HVAC, military and other liquid-handling applications. This news page focuses on the company’s public announcements and financial communications.
Visitors can review Gorman-Rupp’s quarterly and annual financial results, where the company reports net sales, gross margin, operating income, interest expense, net income, adjusted earnings per share, adjusted EBITDA, incoming orders, backlog and cash flow from operating activities. These releases also describe trends in key markets such as municipal water and wastewater projects, fire suppression, construction, agriculture, industrial applications including data center-related demand, petroleum, OEM and repair.
The news feed also includes dividend declarations, which highlight Gorman-Rupp’s history of consecutive quarterly dividends and many years of dividend increases. Investors following income-oriented strategies may use these updates to track the company’s dividend actions over time.
In addition, Gorman-Rupp’s news releases provide management commentary on factors affecting performance, including infrastructure spending, flood control and storm water management projects, construction activity, agricultural conditions, tariffs, supply chain considerations, healthcare costs and debt refinancing. Safe harbor statements in these releases outline company-specific and general risk factors that may influence future results.
By monitoring this page, readers can follow the latest reported results, dividend announcements and other company communications related to GRC, all drawn from the firm’s official news releases and associated SEC Form 8-K filings.
The Gorman-Rupp Company (NYSE: GRC) has announced a 2.8% increase in its quarterly cash dividend to $0.185 per share, up from $0.18 in the previous quarter. The dividend is payable December 10, 2024, to shareholders of record November 15, 2024. This marks the company's 299th consecutive quarterly dividend and 52nd consecutive year of increased dividends, placing Gorman-Rupp among the top 50 U.S. public companies for consecutive years of dividend increases.
Gorman-Rupp (NYSE: GRC) reported Q3 2024 financial results with net sales of $168.2 million, a 0.4% increase from Q3 2023. Net income rose to $12.9 million ($0.49 per share), up from $9.0 million ($0.34 per share) in Q3 2023. The company achieved a 260 basis point improvement in gross margin to 31.3% and reduced interest expense by 25.9%. Sales growth was driven by increases in municipal, repair, OEM, and petroleum markets, offset by decreases in fire suppression, industrial, construction, and agriculture markets. The company's backlog stood at $207.8 million, with incoming orders up 4.1% year-to-date.
Gorman-Rupp (NYSE: GRC) reported Q2 2024 financial results with net sales of $169.5 million, down 0.9% year-over-year. Net income was $8.3 million ($0.32 per share), compared to $10.5 million ($0.40 per share) in Q2 2023. Adjusted earnings per share improved to $0.54 from $0.41 last year. Key highlights include:
- Record Adjusted EBITDA of $35.4 million, up 4.9% year-over-year
- Incoming orders increased 5.5% to $162.5 million
- Gross margin improved 170 basis points to 31.9%
- Completed debt refinancing expected to reduce annual interest expense by over $7 million
The company saw sales increases in municipal, OEM, repair, and petroleum markets, offset by decreases in fire suppression, agriculture, industrial, and construction markets. Management remains focused on top-line growth and margin improvement in the second half of 2024.
The Gorman-Rupp Company (NYSE: GRC), a leading pump manufacturer, has declared a quarterly cash dividend of $0.18 per share on its common stock. The dividend is payable on September 10, 2024, to shareholders of record as of August 15, 2024. This marks the 298th consecutive quarterly dividend paid by the company, highlighting its consistent commitment to shareholder returns.
Founded in 1933, Gorman-Rupp designs, manufactures, and markets pumps and pump systems for various applications, including water, wastewater, construction, industrial, petroleum, agriculture, fire suppression, HVAC, and military uses. The company's long-standing dividend history demonstrates its financial stability and dedication to rewarding investors.
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.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.