Gorman-Rupp Company (GRC) reported Friday financial results for Q3, with earnings and revenue that both topped single analyst estimates; its board of directors also approved quarterly and special cash dividends.
The designer, manufacturer and international marketer of pumps and pump systems posted earnings of $0.45 per share, excluding one-time items, compared with the prior-year period’s $0.32 per share. One analyst on Capital IQ was expecting EPS of $0.36.
Revenue was $102.9 million, up from $94 million in the same quarter last year. The single analyst estimate is for revenue of $101.5 million.
Gorman-Rupp’s board announced a special cash dividend of $2.00 per share on the common stock, payable Dec. 10, to shareholders of record Nov. 15. The board also said it will pay a quarterly cash dividend of $0.135 per share on the common stock of the company, payable Dec. 10, to shareholders of record Nov. 15. That is an 8% increase over the dividend paid the previous quarter.