All Things Business
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.
Financial Reports, Gorman-Rupp Company