Gorman-Rupp Reports Third Quarter 2024 Financial Results [Yahoo! Finance]
Gorman-Rupp Company (The) (GRC)
NASDAQ:AMEX Investor Relations:
gormanrupp.com/investor
Company Research
Source: Yahoo! Finance
Third Quarter 2024 Highlights Net sales of $168.2 million increased 0.4%, or $0.7 million, compared to the third quarter of 2023 Third quarter net income was $12.9 million, or $0.49 per share, compared to net income of $9.0 million, or $0.34 per share, for the third quarter of 2023 Gross margin improved 260 basis points Interest expense decreased $2.7 million or 25.9% primarily due to debt refinanced in the second quarter of 2024 Adjusted EBITDA of $32.0 million for the third quarter of 2024 increased $1.5 million, or 5.1%, from $30.5 million for the same period in 2023 Jeffrey S. Gorman will transition from Executive Chairman to Chairman of the Board effective January 3, 2025 Net sales for the third quarter of 2024 were $168.2 million compared to net sales of $167.5 million for the third quarter of 2023, an increase of 0.4% or $0.7 million. The increase in sales was due to the impact of pricing increases taken in the first quarter of 2024 partially offset by a decrease
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- The Gorman-Rupp Company (NYSE: GRC) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating.MarketBeat
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- Investing in Gorman-Rupp (NYSE:GRC) a year ago would have delivered you a 29% gain [Yahoo! Finance]Yahoo! Finance
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