Although the S&P 500 is down 1.6% over the past six months, Gorman-Rupp’s stock price has fallen further to $35.58, losing shareholders 8.9% of their capital. This was partly due to its softer quarterly results and might have investors contemplating their next move.
Gorman-Rupp (NYSE:GRC) manufactures and sells pumps globally. met Wall Street’s revenue expectations in Q4 CY2024, with sales up 1.3% year on year to $162.7 million. Its non-GAAP profit of $0.42 per share was 6.7% below analysts’ consensus estimates.
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the gas and liquid handling industry, including Standex (NYSE:SXI) and its peers.
Looking back on gas and liquid handling stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including CECO (NASDAQ:CECO) and its peers.
Gorman-Rupp has followed the market’s trajectory closely, rising in tandem with the S&P 500 over the past six months. The stock has climbed by 5.5% to $37.86 per share while the index has gained 7.8%.
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how gas and liquid handling stocks fared in Q3, starting with Gorman-Rupp (NYSE:GRC).
Gorman-Rupp (NYSE:GRC) manufactures and sells pumps globally. fell short of the market’s revenue expectations in Q3 CY2024, with sales flat year on year at $168.2 million. Its GAAP profit of $0.49 per share was also 5.8% below analysts’ consensus estimates.
Investors eagerly anticipate the dividend payout from Kennametal (NYSE:KMT) on February 27, 2024. With a payout of $0.20 per share and an annualized dividend yield of 3.16%, this reward is exclusively for shareholders who held the stock before the ex-dividend date on February 12, 2024
