Gorman-Rupp (NYSE: GRC) manufactures and sells pumps globally. will be reporting results this Friday before market open. Here’s what to look for.
Gorman-Rupp beat analysts’ revenue expectations last quarter, reporting revenues of $176.6 million, up 7.7% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and 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 for active Edge members.
This quarter, the market is expecting Gorman-Rupp’s revenue to grow 5.5% year on year, in line with the 5.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Gorman-Rupp has missed Wall Street’s revenue estimates multiple 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 3.3%, missing analysts’ expectations by 3%, and GE Aerospace reported revenues up 24.5%, topping estimates by 6%. GE Aerospace traded down 3.2% following the results.
Read our full analysis of Graco’s results here and GE Aerospace’s results here.
Investors in the industrial machinery segment have had steady hands going into earnings, with share prices flat over the last month. Gorman-Rupp is down 7.3% during the same time and is heading into earnings with an average analyst price target of $75 (compared to the current share price of $80.13).
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