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Dec 31, 2023
Gorman-Rupp Q4 2023 Earnings Report
Gorman-Rupp's sales and earnings increased compared to the same period last year.
Key Takeaways
Gorman-Rupp reported a 10.0% increase in net sales for Q4 2023, driven by higher volumes and pricing. Net income and adjusted EPS also increased significantly. The company's diverse markets and strategic investments contributed to the positive results.
Net sales increased by 10.0% to $160.6 million compared to Q4 2022.
Net income rose to $9.0 million, or $0.34 per share, compared to $2.4 million, or $0.09 per share, in Q4 2022.
Adjusted EPS was $0.34, compared to $0.11 in Q4 2022, which included non-cash LIFO expense.
Adjusted EBITDA increased to $29.1 million, up from $28.5 million in the same period last year.
Forward Guidance
The company anticipates backlog to return to more normal levels during 2024 and is well-positioned to benefit from infrastructure spending and increased demand for flood control and storm water management.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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