Thomas Møller, EVP Energy Division Energy Division Energy transition Fossil fuels Clean fuels & molecules Electrification Today 2050 Net-zero +50% demand growth Solution 1 Energy efficiency Solution 2 Electrification Solution 3 Clean fuels & molecules 3 2 1 Energy transition Applications that drive electricity demand until 2030 Heating & cooling 22% Others 15% Industry 38% EV´s 15% Data centers 10% | Two thirds of the | China | European Union | Other AE | | --- | --- | --- | --- | | global investments | USD ...

Core Insights - The Gorman-Rupp Company reported a net sales increase of 2.8% to $172.8 million for Q3 2025 compared to Q3 2024, driven by growth in various markets, particularly industrial and municipal [2][6][12] - The company undertook facility optimization, reducing the number of National Pump Company operating facilities from six to three, which is expected to yield annualized savings of $2.0 to $2.5 million [1][21] - 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, with adjusted earnings per share increasing to $0.52 [6][10][18] Financial Performance - Gross profit for Q3 2025 was $50.4 million, resulting in a gross margin of 29.2%, down from 31.3% in Q3 2024, impacted by facility optimization costs and increased material costs [4][7] - Selling, general and administrative expenses were $25.9 million, representing 15.0% of net sales, slightly improved from 15.3% in Q3 2024 [5][14] - 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 [5][7] Market Dynamics - Sales growth was noted across most markets, with significant increases in the industrial market ($5.3 million) and municipal market ($2.1 million), while the construction market saw a decline of $4.6 million [3][12] - Incoming orders for Q3 2025 reached $184.5 million, a 19.2% increase compared to the same quarter last year, indicating strong demand across various sectors [6][19] Year-to-Date Highlights - For the first nine months of 2025, net sales were $515.8 million, up 3.8% from $497.0 million in the same period of 2024 [11] - Year-to-date net income was $39.3 million, or $1.49 per share, compared to $29.1 million, or $1.11 per share in the first nine months of 2024 [18] - The company's backlog of orders increased to $234.2 million as of September 30, 2025, compared to $206.0 million at the end of 2024 [19]

Financial Performance - Record net sales for Q2 2025 reached $179.0 million, a 5.6% increase or $9.5 million compared to Q2 2024[101] - Record incoming orders for Q2 2025 were $188.0 million, up 15.7% or $25.5 million from Q2 2024[101] - Net sales for the six months ended June 30, 2025, were $343.0 million, a 4.3% increase or $14.2 million compared to the same period in 2024[104] - Adjusted EBITDA for Q2 2025 was $35.3 million, representing 19.7% of net sales[100] - Adjusted earnings per share for Q2 2025 were $0.60[100] - Adjusted EBITDA for the first six months of 2025 increased to $65.0 million, a 2.2% increase or $1.4 million from $63.6 million in 2024[104] Capital Structure and Dividends - Total debt decreased by $30 million in the first six months of 2025[109] - The company has a strong dividend track record with over 75 years of cash dividends and 52 consecutive years of increases[7, 117] - The current annualized dividend rate is $0.74 per share, yielding 2.0% as of June 30, 2025[118] International Sales - International sales represent approximately 25% of total company sales annually[75] - In 2024, international sales totaled $168 million, with $90 million exported from the USA and $78 million direct from international locations[76]

Core Viewpoint - Dover Corporation has acquired ipp Pump Products GmbH, enhancing its Pump Solutions Group's capabilities in sanitary pump technologies for various industries [1][2][3] Company Overview - Dover Corporation is a diversified global manufacturer with annual revenue exceeding $7 billion, operating through five segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies [4] Acquisition Details - ipp, headquartered in Bersenbrück, Germany, specializes in sanitary pump technologies, including hygienic lobe and progressive pumps, which are critical for food and beverage, cosmetics, and pharmaceuticals [2][3] - The acquisition is expected to add complementary technologies to Dover's existing pump portfolio, allowing for broader service to diverse customer bases across strategic end markets [3]

Gorman-Rupp Company (GRC) Conference Summary Company Overview - Gorman-Rupp Company is a manufacturer of pumps and pump-related systems, serving a wide range of end markets [2][4] - The company has a strong brand reputation and focuses on customer service [5][6] Industry Insights - The global pump industry is valued at approximately $80 billion annually [9] - The industry is highly fragmented, presenting numerous acquisition opportunities [9] Financial Performance - Significant growth in net sales and adjusted EPS over the last four years, driven by both organic growth and the Fill Rite acquisition [19][20] - Organic growth rates were 15% in 2022 and 16% in 2023 [20] - 2024 adjusted EPS reached a record of $1.75, with adjusted EBITDA nearly $125 million [23] - Incoming orders in 2024 increased by 6.8% compared to 2023, with a strong backlog of $218 million at the end of Q1 2025 [25][26] Capital Allocation and Debt Management - Historical capital expenditure of about $20 million annually, primarily for machinery and equipment [30] - The company has a long history of dividend payments, with 52 consecutive years of increases [33] - Debt has decreased by $43 million in 2024, with expectations for similar reductions in 2025 [28] Growth Strategy - Focus on customer service and maintaining a high-performing culture as key growth pillars [35][36] - Plans for strategic acquisitions once leverage is reduced to below two times EBITDA [58][63] - Continued emphasis on new product development, particularly in self-priming pump technology [65][66] Market Dynamics - The company benefits from a U.S.-centric supply chain, which has provided advantages during macroeconomic challenges [6][43] - Strong relationships with distributors and a diverse product offering help mitigate risks during economic cycles [16][17] Customer Relationships and Pricing Strategy - Customers prioritize reliability and value over price sensitivity, particularly for repair parts [54][55] - The company maintains a stable pricing model, mindful of inflationary pressures [56][57] Conclusion - Gorman-Rupp Company is well-positioned for continued growth through a combination of organic initiatives and strategic acquisitions, supported by a strong financial foundation and commitment to customer service [41][42]

Company Overview - Walrus Pump Co., Ltd. is showcasing its advanced smart pump technology at the 2025 Computex Taipei, expanding its market presence in various sectors including data centers and EV charging [1] - The company operates two major production bases in Taiwan and is set to begin small-scale production at its new Global Plant in Kaohsiung, which will enhance production capacity and inventory management [3] Financial Performance - In Q1 2025, Walrus reported consolidated revenue of NT$429 million, a year-over-year increase of 17.84%, with a gross profit of NT$121 million, up 15.24% YoY, and a net profit after tax of NT$32 million, up 38.45% YoY [2] Product Innovation - At Computex Taipei, Walrus unveiled two new pump series: the TPMS Slim Motor Multistage Centrifugal Pump series and the CMP Glandless Variable-Speed Pump series, both designed to enhance cooling efficiency in data centers [4] - The TPMS series features intelligent control capabilities for energy efficiency, while the CMP series reduces leakage risks and maintenance costs, aligning with ESG goals [4] Research and Development - Walrus operates a dual-power Pump Dynamic Laboratory certified by TAF and TÜV, providing tailored validation and testing technologies for customer-specific needs [5] - The company is investing in the development of Brushless DC (BLDC) motors to strengthen its position in the high-end server cooling market [7] Digital Strategy - Walrus integrates IoT technology into its products for automation and smart monitoring, enhancing reliability and safety through remote control and predictive maintenance [6] - The company also offers AI-powered customer support to ensure timely responses to maintenance needs [6] Market Expansion - With the increasing global demand for server cooling, Walrus aims to become a key partner for domestic thermal module manufacturers and strengthen its overseas presence through brand-driven market expansion [7]