Loading...
•
Sep 30, 2021
Gorman-Rupp Q3 2021 Earnings Report
Gorman-Rupp's financial performance increased in Q3 2021, with sales and incoming orders showing positive trends.
Key Takeaways
Gorman-Rupp reported a strong third quarter in 2021, with a 14.8% increase in net sales and a 32.0% increase in incoming orders compared to the same period in 2020. Earnings per share rose to $0.34, and the company's backlog improved to $156.5 million. Scott A. King was promoted to CEO, effective January 1, 2022.
Earnings per share increased to $0.34, compared to $0.28 in Q3 2020.
Sales increased by 14.8%, with domestic sales up 8.6% and international sales up 30.0%.
Incoming orders increased by 32.0% compared to the third quarter of 2020.
Backlog improved to $156.5 million as of September 30, 2021.
Forward Guidance
The company anticipates continued positive trends in sales and incoming orders, supported by a strong backlog. Management remains focused on managing challenges related to the COVID-19 pandemic and global supply chain, as well as long-term growth opportunities.
Positive Outlook
- Sales and incoming orders have continued positive trends
- The company enters the fourth quarter with a very strong backlog
- The team has done a good job managing the ongoing challenges of the COVID-19 pandemic, including those related to our global supply chain
- Sales volumes have returned to more normal levels
- The management team remains focused on long-term growth opportunities and strategic initiatives
Challenges Ahead
- Ongoing challenges of the COVID-19 pandemic
- Challenges related to our global supply chain
- Uncertainties related to the global economic recovery
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...