The Gorman-Rupp Company reported a net income of $17.8 million, or $0.68 per share, for the first quarter of 2026, marking a significant increase of 47.1% compared to the $12.1 million, or $0.46 per share, recorded in the same period of 2025. The company's net sales rose to $176.6 million, a 7.7% increase from $163.9 million in the prior year. This growth was attributed to volume increases and an average pricing rise of approximately 3.0%. The gross profit for the quarter was $57.4 million, resulting in a gross margin of 32.5%, up from 30.7% in the previous year, driven by improved labor and overhead leverage.
In terms of operational performance, Gorman-Rupp's backlog of orders reached $247.9 million as of March 31, 2026, compared to $217.8 million a year earlier. Incoming orders for the first quarter were $187.5 million, reflecting a 5.5% increase year-over-year. The company also reported a decrease in interest expenses, which fell to $5.0 million from $6.2 million, primarily due to reduced outstanding debt. Selling, general, and administrative expenses increased to $26.8 million, representing 15.2% of net sales, slightly down from 15.3% in the previous year.
Geographically, Gorman-Rupp's sales in the United States increased to $134.3 million from $122.0 million, while international sales remained relatively stable at $42.3 million. The company continues to serve approximately 140 countries, with international sales accounting for about 24% of total net sales. The increase in domestic sales was driven by strong demand across various sectors, including construction and agriculture, which saw notable growth due to increased infrastructure investments and improved market conditions.
Looking ahead, Gorman-Rupp's management expressed optimism about the company's performance, citing a broad-based demand across most end markets and a solid order backlog that positions the company well for the remainder of the year. The company plans to continue investing in its operations, including capital expenditures projected at $22.0 to $24.0 million for 2026, primarily for machinery and equipment. Additionally, the Board of Directors has authorized a quarterly dividend of $0.19 per share, marking the 305th consecutive quarterly dividend payment, reflecting the company's commitment to returning value to shareholders while maintaining a focus on long-term growth.
About GORMAN RUPP CO
The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems for water, wastewater, industrial, construction, petroleum, fire suppression, HVAC, and agricultural applications worldwide. Its products range from small to large-capacity pumps, serving diverse markets with a focus on quality, performance, and timely delivery. The company emphasizes innovation, global distribution, and long-term customer relationships, maintaining a competitive edge through product reliability and extensive industry experience.
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