No. 953New York · London · SingaporeUpdated July 24, 2026

Financial News
& Market Press Releases

PROVPROV board fills Thomas vacancy, names Van Stockum chief lending officerJul 24GRCGRC posts record Q2 sales and earnings as construction and agriculture demand lifts the printJul 24SGRYSGRY: Surgery Partners agrees to sell Idaho Falls hospitals to Intermountain Health for $795 millionJul 24MTDRMTDR locks in $1.275 billion Delaware Basin deal as Woodford well clears commercial thresholdJul 24MARKETSBMQWF sets CAD 0.089 monthly cash dividend, ex-date July 30Jul 24MARKETSGOOGN declares USD 0.60 quarterly cash dividend, ex-date set July 31Jul 24MARKETSVolkswagen CFO puts plant closures and job losses on the table as Q2 profit missesJul 24MARKETSTRS sets $0.04 quarterly dividend with August 6 ex-date confirmedJul 24SERSER: Serina Therapeutics locks in $500,000 CEO salary with 1.5x change-in-control severanceJul 23HBANHBAN holds common dividend at $0.155 as Huntington board sets seven preferred payouts through NovemberJul 23PROVPROV board fills Thomas vacancy, names Van Stockum chief lending officerJul 24GRCGRC posts record Q2 sales and earnings as construction and agriculture demand lifts the printJul 24SGRYSGRY: Surgery Partners agrees to sell Idaho Falls hospitals to Intermountain Health for $795 millionJul 24MTDRMTDR locks in $1.275 billion Delaware Basin deal as Woodford well clears commercial thresholdJul 24MARKETSBMQWF sets CAD 0.089 monthly cash dividend, ex-date July 30Jul 24MARKETSGOOGN declares USD 0.60 quarterly cash dividend, ex-date set July 31Jul 24MARKETSVolkswagen CFO puts plant closures and job losses on the table as Q2 profit missesJul 24MARKETSTRS sets $0.04 quarterly dividend with August 6 ex-date confirmedJul 24SERSER: Serina Therapeutics locks in $500,000 CEO salary with 1.5x change-in-control severanceJul 23HBANHBAN holds common dividend at $0.155 as Huntington board sets seven preferred payouts through NovemberJul 23

NewsMacro · GRC

GRC posts record Q2 sales and earnings as construction and agriculture demand lifts the print

Record net sales of $186.1 million headline Gorman-Rupp's (NYSE: GRC) second-quarter 2026 results, released July 24, with net income reaching $19.4 million against $15.8 million a year earlier and earnings per share at $0.74 versus $0.60. The next confirmable milestone: whether backlog, which sat at $239.7 million at June 30, 2026, holds above the $224.4 million posted at the same date last year as incoming orders continue to grow.

By Grace OseiMacro DeskJuly 24, 20262 min readGRC

Gorman-Rupp (NYSE: GRC) posted record second-quarter 2026 net sales of $186.1 million, with net income of $19.4 million and EPS of $0.74, up from $15.8 million and $0.60 a year earlier.
Backlog stood at $239.7 million at June 30, 2026, above the $224.4 million recorded at the same date in 2025.
Construction led demand growth, adding $4.7 million on mining activity and rental equipment sales, followed by agriculture at $4.2 million.
Gross margin expanded 130 basis points to 32.6%, and adjusted EBITDA rose 8.3% to $38.2 million, or 20.5% of sales.
Year-to-date net sales reached $362.7 million, up 5.7%, with first-half net income of $37.3 million ($1.41 per share) versus $27.9 million ($1.06) in 2025.

The numbers

Adjusted EBITDA came in at $38.2 million, or 20.5% of sales, up $2.9 million and 8.3% against the second quarter of 2025. Gross margin expanded 130 basis points to 32.6%, with 80 of those basis points coming from price increase realization and favorable product mix, and 50 basis points from a reduction in LIFO costs. Gross profit was $60.6 million versus $56.1 million a year ago.

Operating income reached $30.4 million, a 16.3% margin versus 15.0% in the year-ago quarter. SG&A expenses were $27.1 million, or 14.6% of net sales, rising on higher advertising and freight costs as volume expanded. Interest expense fell to $4.7 million from $6.0 million as outstanding debt declined; total debt through the first six months of 2026 dropped $33.0 million.

What drove the quarter

Construction led the demand mix, adding $4.7 million in the quarter on mining activity and rental equipment sales. Agriculture followed at $4.2 million, with Fill-Rite's sales channels cited for broad-based gains across the segment. Industrial contributed $1.6 million in additional volume, and OEM added $0.9 million tied specifically to data center demand.

Fire suppression revenue fell $2.2 million, attributed to reduced international shipments. Municipal, repair, and petroleum markets each pulled back as well.

The setup at midyear

The six-month read extends the pattern. Year-to-date net sales of $362.7 million advanced 5.7%, with net income of $37.3 million, or $1.41 per share, compared to $27.9 million and $1.06 per share in the first half of 2025. Operating cash flow was $62.5 million against $48.9 million in the prior-year period, with the improvement attributed to higher net income.

President and CEO Scott A. King said the strong start to the year continued into the second quarter, pointing to record results in both net sales and earnings per share, with demand from construction, agriculture, and data centers named as the lead contributors.

Incoming orders for the first six months of 2026 totaled $370.8 million, a 1.4% gain over the same period in 2025. Capital expenditures for the full year are planned at $22.0 to $24.0 million; through June 30 the company had spent $7.9 million, concentrated in machinery and equipment.

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Frequently asked

What were Gorman-Rupp's key Q2 2026 financial results?

The company reported record net sales of $186.1 million, net income of $19.4 million, and earnings per share of $0.74, all higher than the prior-year quarter.

What drove the growth in the quarter?

Construction added $4.7 million on mining and rental equipment, agriculture added $4.2 million, industrial added $1.6 million, and OEM added $0.9 million tied to data center demand.

Which markets declined during the quarter?

Fire suppression revenue fell $2.2 million due to reduced international shipments, and the municipal, repair, and petroleum markets each pulled back.

How did Gorman-Rupp's debt and cash flow change?

Interest expense fell to $4.7 million from $6.0 million as total debt dropped $33.0 million through the first six months, while operating cash flow rose to $62.5 million from $48.9 million.

What are the company's capital expenditure plans for 2026?

Full-year capital expenditures are planned at $22.0 to $24.0 million, of which $7.9 million had been spent through June 30, mainly on machinery and equipment.