All Things Business

Gorman-Rupp Reports Fourth Quarter and Full-Year 2021 Financial Results

6 Feb , 2022  

Special to 1812Blockhouse

Mansfield’s Gorman-Rupp Company has reported financial results for the fourth quarter and year ended December 31, 2021.

Fourth Quarter 2021 Highlights

  • Fourth quarter earnings per share were $0.25 compared to $0.26 per share for the fourth quarter of 2020
    • 2021 results included an unfavorable LIFO impact of $0.08 per share
    • Results included non-cash pension settlement charges of $0.01 per share in both 2021 and 2020
  • Net sales of $94.2 million increased 14.1% compared to the fourth quarter of 2020
  • Incoming orders of $124.1 million increased 33.0% compared to the fourth quarter of 2020
  • Backlog of $186.0 million increased 64.4% compared to the same period in 2020
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All Things Business

Gorman-Rupp Reports Third Quarter Earnings, CEO Change

8 Nov , 2021  

Special to 1812Blockhouse

The Gorman-Rupp Company has reported financial results for the third quarter and nine months ended September 30.

Third Quarter 2021 Highlights

  • Third quarter earnings per share were $0.34 compared to $0.28 per share for the third quarter of 2020
    • 2021 results included an unfavorable LIFO impact of $0.08 per share due to inflationary pressure
    • Results included non-cash pension settlement charges of $0.01 and $0.03 per share in 2021 and 2020, respectively
  • Sales increased 14.8% and incoming orders increased 32.0% compared to the third quarter of 2020
  • Backlog improved to $156.5 million at September 30, 2021
  • Scott A. King promoted to Chief Executive Officer effective January 1, 2022
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All Things Business

Gorman-Rupp Reports First Quarter Financial Results

23 Apr , 2021  

Special to 1812Blockhouse

The  Gorman-Rupp Company has reported financial results for the first quarter ended March 31, 2021.

First Quarter 2021 Highlights

  • First quarter earnings per share were $0.28 compared to $0.21 per share for the first quarter of 2020
    • First quarter of 2020 included a non-cash pension settlement charge of $0.04 per share
  • Net sales decreased 2.9% or $2.7 million compared to the first quarter of 2020 and increased 7.9% or $6.5 million compared to the fourth quarter of 2020
  • Incoming orders increased 1.3% compared to the first quarter of 2020 and increased 9.5% compared to the fourth quarter of 2020
  • Backlog improved to $125.5 million compared to $113.1 million at December 31, 2020

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All Things Business

Gorman-Rupp Reports Quarterly, Yearly Financial Results

6 Feb , 2021  

Special to 1812Blockhouse

Mansfield’s Gorman-Rupp Company has reported financial results for the fourth quarter and year ended December 31, 2020.

Fourth Quarter 2020 Highlights

  • Fourth quarter earnings per share were $0.26 compared to $0.32 per share for the fourth quarter of 2019
  • Fourth quarter of 2020 included a non-cash pension settlement charge of $0.01 per share
  • Fourth quarter of 2019 included a favorable LIFO impact of $0.04 per share
  • Net sales decreased 11.9% or $11.2 million compared to the fourth quarter of 2019
  • Fourth quarter ending backlog increased 7.8% compared to the same period in 2019 and increased 11.0% compared to the third quarter of 2020
  • Net sales for the fourth quarter of 2020 were $82.5 million compared to net sales of $93.7 million for the fourth quarter of 2019, a decrease of 11.9% or $11.2 million.
  • Domestic sales decreased 7.4% or $4.7 million and international sales decreased 21.3% or $6.5 million compared to the same period in 2019.

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