Gorman-rupp ( (GRC) ) has released its Q4 earnings. Here is a breakdown of the information Gorman-rupp presented to its investors.
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The Gorman-Rupp Company is a renowned designer and manufacturer of pumps and pump systems, serving diverse sectors such as water, wastewater, construction, and agriculture.
In its latest earnings report, Gorman-Rupp revealed a modest increase in net sales for both the fourth quarter and full-year 2024, driven primarily by price adjustments and infrastructure investments.
For the fourth quarter of 2024, Gorman-Rupp achieved net sales of $162.7 million, marking a 1.3% increase from the previous year. Net income for the quarter rose to $11.0 million, bolstered by a decrease in interest expenses following a strategic debt refinancing. The company saw notable sales growth in the municipal and repair markets, although it faced declines in the fire suppression and industrial markets due to adjusted backlog levels and market conditions.
For the full year, Gorman-Rupp reported net sales of $659.7 million with an adjusted EBITDA of $124.6 million. Despite a challenging year-over-year sales comparison, the company benefited from increased sales in municipal and repair markets, countering declines in fire suppression and other sectors. The reduction in total debt by $43 million and a decrease in interest expenses were significant financial achievements for the year.
Looking ahead, Gorman-Rupp maintains a positive outlook for 2025, with expectations of continued benefits from infrastructure spending and strong demand in flood control and water management markets. The company remains committed to achieving long-term profitable growth while managing its financial health prudently.
