Welcome to our dedicated page for Gorman-Rupp news (Ticker: GRC), a resource for investors and traders seeking the latest updates and insights on Gorman-Rupp stock.
The Gorman-Rupp Company reports developments tied to its pump and pump system business for water, wastewater, construction, dewatering, industrial, petroleum, OEM, agriculture, fire suppression, HVAC, military and other liquid-handling applications. Company updates commonly cover quarterly and annual results, sales by end market, incoming orders, backlog, gross margin, operating margin, material costs, labor and overhead leverage, and SG&A trends.
News for GRC also includes recurring capital-return and governance items, including quarterly cash dividend declarations, dividend increases, annual meeting scheduling, and shareholder record-date actions. Founded in 1933, the company operates as a manufacturer and international marketer of pumps and pump systems, with U.S. revenue forming the largest geographic contribution in the available company profile.
The Gorman-Rupp Company (GRC) reported third-quarter earnings per share of $0.28, down from $0.37 a year earlier, impacted by a non-cash pension settlement charge of $0.03 per share. Net sales reached $89.0 million, a decline of 10.4% compared to Q3 2019 but an increase of 3.7% from Q2 2020. Year-to-date net sales were $266.5 million, down 12.5% from the previous year. The company experienced sales declines across multiple markets, primarily due to the COVID-19 pandemic and a slowdown in the oil and gas industry. Despite challenges, Gorman-Rupp's backlog of orders increased to $102.0 million.