Gorman-Rupp Q3 Adj $0.49 Misses $0.55 Estimate, Sales $168.18M Miss $172.40M Estimate
Portfolio Pulse from Benzinga Newsdesk
Gorman-Rupp (NYSE:GRC) reported Q3 earnings of $0.49 per share, missing the $0.55 estimate, but showing a 44.12% increase from last year. Sales were $168.18M, below the $172.40M estimate, with a slight 0.43% increase from last year.
October 25, 2024 | 10:35 am
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Gorman-Rupp's Q3 earnings and sales both missed analyst estimates, despite showing year-over-year growth. This could lead to short-term negative sentiment among investors.
The company's earnings per share and sales figures both fell short of analyst expectations, which typically results in a negative market reaction. However, the year-over-year growth in both metrics may mitigate some of the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100