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Dec 31, 2021
Gorman-Rupp Q4 2021 Earnings Report
Gorman-Rupp's Q4 2021 earnings were reported, with net sales increasing by 14.1% and earnings per share at $0.25.
Key Takeaways
Gorman-Rupp reported a 14.1% increase in net sales for Q4 2021, reaching $94.2 million compared to $82.5 million in Q4 2020. Earnings per share were $0.25, slightly lower than the $0.26 reported in the same period last year. Incoming orders increased by 33.0%, and the company's backlog increased significantly by 64.4%.
Net sales increased by 14.1% to $94.2 million compared to Q4 2020.
Earnings per share were $0.25, a slight decrease from $0.26 in Q4 2020.
Incoming orders increased by 33.0% compared to the fourth quarter of 2020.
Backlog increased by 64.4% to $186.0 million compared to the same period in 2020.
Forward Guidance
The Company expects our effective tax rate for 2022 to be between 20.0% and 22.0%. Capital expenditures for the full-year 2022 are presently planned to be in the range of $15-$20 million.
Positive Outlook
- Incoming order trend continues to be very strong
- Team has continued to do a good job of managing the ongoing global supply chain challenges
- Price increases to offset inflationary pressures on material costs and wages have been passed on
- SG&A expenses have been leveraged as sales volumes have increased
- Enters 2022 with a very healthy backlog and are well positioned to continue to deliver top-line growth
Challenges Ahead
- Sales during the fourth quarter were somewhat impacted by customer-initiated shipment delays
- Effective tax rate for 2022 to be between 20.0% and 22.0%
- Unfavorable LIFO
- Increased cost of material
Historical Earnings Impact
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Avg. Return Before/After Earnings
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