GORMAN RUPP CO

The Gorman-Rupp Company announced strong financial results for the third quarter of 2026, reporting record net sales and net income. Net sales increased by 11.8% to $193.3 million, driven by volume growth and price increases across all markets. Net income more than doubled to $22.7 million, or $0.86 per share, compared to $11.3 million, or $0.43 per share, in the prior year. The company also achieved record adjusted EBITDA of $41.8 million. For the year-to-date period, net sales grew 7.8% and net income increased significantly, with total debt reduced by $58.0 million.

The Gorman-Rupp Company announced that James C. Kerr, Executive Vice President and Chief Financial Officer, will retire. Ronald F. Stoops, currently Vice President of Finance, will succeed Mr. Kerr as CFO, effective October 1, 2026. Mr. Kerr will assist with the transition and continue as a senior advisor. Mr. Stoops has held various financial roles since joining the company in 2020.

The Gorman-Rupp Company reported record financial results for the second quarter and first six months of 2026. Q2 net sales increased 3.9% to $186.1 million, and net income rose to $19.4 million, or $0.74 per share. Year-to-date, net sales grew 5.7% to $362.7 million, with net income reaching $37.3 million, or $1.41 per share. The company also significantly reduced its total debt by $33.0 million during the first half of the year, driven by strong operating cash flows.

The Gorman-Rupp Company held its Annual Meeting on April 23, 2026, where shareholders elected nine directors, approved executive officer compensation on an advisory basis, and ratified Ernst & Young LLP as independent accountants for 2026. Following the meeting, the independent Directors appointed Donald H. Bullock, Jr. as Lead Independent Director, succeeding M. Ann Harlan, who will continue to serve on the Board.

GORMAN RUPP CO (GRC) reported a significant increase in net income for Q1 2026, rising 47.1% to $17.8 million, with EPS of $0.68. Net sales grew 7.7% to $176.6 million, driven by volume growth and pricing increases. Operating income increased 24.2% to $27.5 million, with gross margin expanding by 180 basis points. The company also authorized a quarterly dividend of $0.19 per share and reported a 5.5% increase in incoming orders, leading to a higher backlog.