Gorman-Rupp (GRC) Tops Q2 EPS by 14c

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Gorman-Rupp Reports Second Quarter 2023 Financial Results

July 28, 2023 6:30 AM EDT

MANSFIELD, Ohio--(BUSINESS WIRE)-- The Gorman-Rupp Company (NYSE: GRC) reports financial results for the second quarter ended June 30, 2023.

Second Quarter 2023 Highlights

Net sales of $171.0 million increased 43.6%, or $52.0 million, compared to the second quarter of 2022, a 21.4% increase excluding sales from Fill-Rite which was acquired in May 2022 Second quarter net income was $10.5 million, or $0.40 per share, compared to a net loss of ($1.0) million, or ($0.04) per share, for the second quarter of 2022 Adjusted earnings per share1 for the second quarters of 2023 and 2022 were $0.41 and $0.27,... More