Loading...
•
Jun 30, 2022
Graham Q1 2023 Earnings Report
Graham reported sales growth and earnings for the first quarter of fiscal year 2023.
Key Takeaways
Graham Corporation reported a strong first quarter in fiscal 2023, with a 79% increase in sales to $36.1 million and diluted EPS of $0.06. The company's performance was driven by a diversified revenue base and the Barber-Nichols acquisition, with defense and space revenue representing 45% of the quarter's revenue. Graham reaffirmed its full-year guidance, expecting continued revenue and adjusted EBITDA growth.
Sales increased by 79% to $36.1 million, driven by a diversified revenue base and the Barber-Nichols acquisition.
Defense and space revenue accounted for 45% of the quarter's revenue, validating the strategic shift in business mix.
Commercial aftermarket sales and orders increased by 38% and 64%, respectively.
The company achieved a net income of $676 thousand, or $0.06 per diluted share, and an adjusted net income of $1.3 million, or $0.12 per diluted share.
Revenue by Segment
Forward Guidance
Graham Corporation expects revenue for fiscal year 2023 to be in the range of $135 million to $150 million. Gross margin is expected to be approximately 16% to 17%, with SG&A expenses around 15% to 16% of sales. Adjusted EBITDA is projected to be between $6.5 million and $9.5 million, yielding an adjusted EBITDA margin of approximately 5% to 6%. Capital expenditures for fiscal 2023 are expected to be $4.5 million to $5.5 million.
Positive Outlook
- Revenue expected to remain in the $135 million to $150 million range.
- Gross margin of approximately 16% to 17% is anticipated.
- SG&A expenses expected to be approximately 15% to 16% of sales.
- Adjusted EBITDA projected to be between $6.5 million and $9.5 million.
- Capital expenditures for fiscal 2023 are expected to be $4.5 million to $5.5 million.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...