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Mar 31, 2021
Gorman-Rupp Q1 2021 Earnings Report
Gorman-Rupp's financial performance for Q1 2021 was reported, with earnings per share at $0.28 and net sales at $89.0 million.
Key Takeaways
Gorman-Rupp reported a decrease in net sales by 2.9% compared to Q1 2020, but earnings per share increased to $0.28. The company's incoming orders improved, leading to a strong backlog position. They are monitoring supply chain developments and taking measures to mitigate risks.
Earnings per share were $0.28, up from $0.21 in Q1 2020.
Net sales decreased by 2.9% to $89.0 million compared to Q1 2020.
Incoming orders increased by 1.3% compared to Q1 2020.
Backlog improved to $125.5 million compared to $113.1 million at the end of 2020.
Revenue by Segment
Forward Guidance
The company expects the first half of the year to be more challenging than the second half, but the trend change in Q1 was encouraging. They are monitoring and mitigating risks related to increased lead times and rising material costs in the global supply chain.
Positive Outlook
- Incoming orders improved in the first quarter.
- Ongoing focus on managing operating and SG&A expenses.
- Increase in incoming orders resulted in a strong backlog position.
- Change in trend during the first quarter was encouraging.
- Well positioned to maximize opportunity as the economy recovers.
Challenges Ahead
- Timing of the global economy fully recovering from the COVID-19 pandemic remains uncertain.
- Sales in the first half of the year will be more challenging than in the back half.
- Monitoring developments in the global supply chain related to increased lead times.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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