September 2022 Presentation
SIX MONTHS ENDED JUNE 30, 2022 P&L
Adjusted EPS of $0.56 compared to $0.61 for 2021
Results included unfavorable LIFO impacts of $0.18 and $0.04 in 2022 and 2021, respectively
Sales increased 21.5% or $39.2 million, a 14.1% increase excluding Fill-Rite
GR
GORMAN-RUPP
COMPANY
The Pump People
Gross margin included $1.4 million of inventory step up amortization, $0.2 million of acquired customer backlog amortization
2022 gross margin also included an increase in the unfavorable impact of LIFO of $4.7 million
Operating income also included $6.9 million in acquisition costs
Incoming orders YTD increased 28.5% compared to the same period last year, an increase of 22.7% excluding Fill-Rite
Backlog improved to $264.7 million at June 30, 2022 compared to $153.0 million at June 30, 2021 and $186.0 million at December
31, 2021 with Fill-Rite adding $14.7 million at June 30, 2022
($ in millions)
Six Months Ended June 30,
2022
Six Months Ended June 30,
2021
Dollars
% of Net Sales
Dollars
% of Net Sales
Net Sales
$221.2
$182.0
Gross Profit
53.7
24.3%
47.7
26.2%
SG&A
39.9
18.1%
27.8
15.3%
Amortization
1.4
0.6%
0.4
0.2%
Operating Income
12.4
5.6%
19.6
10.8%
Interest Expense
2.3
1.0%
Adjusted Net Income¹
14.5
6.6%
15.9
8.7%
Adjusted EPS¹
$0.56
$0.61
Adjusted EBITDA¹
$27.9
12.6%
$25.9
14.2%
(1) See appendix for non-GAAP reconciliations.
SEPTEMBER 2022 PRESENTATION
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