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Mar 31, 2022
Gorman-Rupp Q1 2022 Earnings Report
Gorman-Rupp's first quarter performance in 2022 showed increased sales and earnings per share.
Key Takeaways
Gorman-Rupp reported a 14.8% increase in net sales, reaching $102.2 million, and earnings per share of $0.29 compared to $0.28 in the first quarter of 2021. Incoming orders also increased by 9.6%, and the company's backlog grew significantly by 55.7%.
Earnings per share were $0.29, up from $0.28 in the first quarter of 2021, including an unfavorable LIFO impact.
Net sales increased by 14.8% to $102.2 million compared to the same period last year.
Incoming orders rose by 9.6% to $112.0 million.
Backlog increased by 55.7% to $195.5 million.
Forward Guidance
The company expects to maintain top line growth while navigating global supply chain challenges and inflationary pressures.
Positive Outlook
- Top line growth across most markets
- Positive incoming order trends
- Backlog at a historically high level
- Labor and overhead leveraged
- Pricing adjustments to offset inflationary pressures
Challenges Ahead
- Inflationary pressures on cost of material persist
- Global supply chain challenges expected to continue
- Unfavorable LIFO impact
- Increased payroll and payroll related costs
- Increased travel expenses
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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