The Gorman-Rupp pany(GRC) - 2025 Q3 - Quarterly Results

Financial Performance - Net sales for Q3 2025 were $172.8 million, an increase of 2.8% or $4.6 million compared to Q3 2024[3] - Net income for Q3 2025 was $11.3 million, or $0.43 per share, down from $12.9 million, or $0.49 per share in Q3 2024[11] - Incoming orders for Q3 2025 were $184.5 million, an increase of 19.2% or $29.7 million compared to the same quarter last year[8] - Gross profit for Q3 2025 was $50.4 million, resulting in a gross margin of 29.2%, down from 31.3% in Q3 2024[5] - Operating income for Q3 2025 was $21.5 million, with an operating margin of 12.4%, compared to $23.9 million and 14.2% in Q3 2024[7] - Year-to-date net sales for 2025 were $515.8 million, an increase of 3.8% or $18.8 million compared to the same period in 2024[13] - Adjusted EBITDA for Q3 2025 was $32.3 million, compared to $32.0 million in Q3 2024[12] - Earnings per share (EPS) for Q3 2025 was $0.43, down from $0.49 in Q3 2024[31] - Non-GAAP adjusted earnings for Q3 2025 were $13.653 million, compared to $12.919 million in Q3 2024[37] Expenses and Liabilities - SG&A expenses were $25.9 million, or 15.0% of net sales, compared to $25.7 million and 15.3% in Q3 2024[6] - Total debt decreased by $45.0 million through the first nine months of 2025[19] - The company's effective tax rate for Q3 2025 was 26.0%, up from 19.6% in Q3 2024[10] - Total liabilities decreased to $464.744 million as of September 30, 2025, from $484.669 million at the end of 2024[33] Cash Flow and Assets - Cash and cash equivalents increased to $42.937 million as of September 30, 2025, compared to $24.213 million at the end of 2024[33] - Total assets rose to $869.901 million as of September 30, 2025, compared to $858.469 million at the end of 2024[33] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $91.230 million, compared to $60.574 million in 2024, indicating improved cash flow[34] Profitability - Gross profit for the nine months ended September 30, 2025, was $156.805 million, compared to $155.135 million for the same period in 2024, reflecting a slight increase[31] - Net income for the nine months ended September 30, 2025, was $39.269 million, up 35% from $29.138 million in 2024[31] Other Costs - The company reported a facility optimization cost of $2.309 million for the nine months ended September 30, 2025[37]