Gorman-Rupp (NYSE: GRC) manufactures and sells pumps globally. will be announcing earnings results this Friday before the bell. Here’s what to expect.
Gorman-Rupp missed analysts’ revenue expectations by 0.5% last quarter, reporting revenues of $163.9 million, up 2.9% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ EBITDA estimates.
Is Gorman-Rupp a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Gorman-Rupp’s revenue to grow 3% year on year to $174.6 million, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.57 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Gorman-Rupp has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Gorman-Rupp’s peers in the industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Graco delivered year-on-year revenue growth of 3.4%, missing analysts’ expectations by 3.1%, and GE Aerospace reported revenues up 21.2%, topping estimates by 15.6%. GE Aerospace traded down 1.1% following the results.
Read our full analysis of Graco’s results here and GE Aerospace’s results here.
There has been positive sentiment among investors in the industrial machinery segment, with share prices up 7.7% on average over the last month. Gorman-Rupp is up 4.1% during the same time and is heading into earnings with an average analyst price target of $53 (compared to the current share price of $37.94).
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