All Things Business

Gorman-Rupp Spends $525 Million To Acquire Pump and Meter Manufacturer

27 Apr , 2022  

Special to 1812Blockhouse

Mansfield’s Gorman-Rupp Company, a leading designer, manufacturer, and international marketer of pumps and pump systems, today announced that it has entered into a definitive agreement to acquire the assets of Fill-Rite and Sotera (“Fill-Rite”), a division of the Tuthill Corporation, for $525 million. When adjusted for approximately $80 million in expected tax benefits, the net transaction value is approximately $445 million. Gorman-Rupp expects to fund the transaction with cash on-hand and new debt. Subject to customary closing conditions and necessary regulatory approvals, the transaction is expected to close in the second quarter of 2022.

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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 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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All Things Business

Gorman-Rupp Holding Virtual Annual Meeting

10 Apr , 2020  

It’s not only the governmental sector that is experiencing changes in how business is conducted.

Later this month, a local company will take to the internet to hold its annual meeting of shareholders.

In a Thursday press release, the Gorman-Rupp Company announced a change in format for its Annual Meeting of shareholders. More…

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All Things Business

Gorman-Rupp Introduces New Hydraulic Piston Pump

11 Mar , 2020  

The SludgeKat, Gorman-Rupp‘s new self-priming, positive displacement, hydraulic piston pump, is designed to handle the applications involving heavy sludges and slurries where other pumps fail. More…

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All Things Business

Gorman-Rupp Reports On First Quarter Financial Results

26 Apr , 2019  

The Gorman-Rupp Company (NYSE:GRC) has reported financial results for the first quarter ended March 31, 2019.

First Quarter 2019 Highlights

  • First quarter earnings per share were $0.28 compared to $0.37 per share for the first quarter of 2018
  • Net sales increased 0.3% or $0.3 million compared to the first quarter of 2018
  • Incoming orders increased 9.8% compared to the fourth quarter of 2018

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All Things Business

Gorman To Step Down As Gorman-Rupp Director After 73 Years

26 Jan , 2019  

A remarkable tenure is set to end in April as James C. Gorman, Chairman of the Board of Directors of the Gorman-Rupp Company, has announced that he will not be standing for reelection to the Board for the coming year.

The announcement was made as Gorman-Rupp announced a quarterly cash divided as well as the date for its Annual Meeting of Shareholders. More…

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All Things Business

Gorman-Rupp Announces Third Quarter Financial Results, Special Cash Dividend

26 Nov , 2018  

The Gorman-Rupp Company has announced its financial results for the third quarter and for the nine months ending September 30. Third quarter financial highlights include: More…

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All Things Business

Gorman-Rupp Reports Third Quarter Financial Results

27 Oct , 2018  

The Mansfield-based Gorman-Rupp Company (NYSE: GRC) reports financial results for the third quarter and nine months ended September 30, 2018. More…

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