The Gorman-Rupp Company announced net sales of $163.9 million for the first quarter of 2025, an increase of 2.9% compared to $159.3 million in the first quarter of 2024. This growth was primarily driven by the realization of selling price increases across various markets. Sales increases were notable in the municipal, repair, OEM, petroleum, and fire suppression markets.
Net income for the quarter surged by 53.8% to $12.1 million, or $0.46 per share, compared to $7.9 million, or $0.30 per share, in the same period last year. This significant profitability boost was largely due to a decrease in interest expense to $6.2 million from $10.1 million, following the debt refinancing completed in May 2024, and improved operating income.
Operating income increased by 8.3% to $22.1 million, with the operating margin expanding to 13.5% from 12.8%. The company also reported a substantial increase in net cash provided by operating activities, rising to $21.1 million from $10.7 million in the prior year. Total debt decreased by $14.6 million during the first three months of 2025, further strengthening the balance sheet.
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