Gorman-Rupp reports Q2 adjusted EPS 54c vs. 41c last year

Reports Q2 revenue $169.5M vs. $171M last year. Scott King, President and CEO commented, “Incoming orders have continued at a solid pace and on a year-to-date basis are up over 6% compared to the first half of last year, resulting in an increase in backlog since the end of 2023. In addition, our pricing strategies contributed to improved gross margin and increased adjusted earnings. We are focused on top line growth through backlog reduction in the second half of the year, as well as delivering strong gross margin and earnings. We are also pleased that our previously announced refinancing is expected to result in significant interest savings going forward.”