Gorman- Rupp Co (GRC) News & EventsGRCGorman- Rupp Co

Stock Futures Lower as Oil Prices Climb to $115

Stock futures are lower as markets look to stabilize after a sharp technology-led selloff, while rising oil prices and escalating Middle East tensions keep investors on edge. Investors are increasingly demanding evidence that massive capital investments will translate into sustainable profits, with next week's results from Microsoft, Alphabet and Amazon likely to provide important signals. Telecommunications stocks are also in focus after reports that SpaceX is discussing plans to launch a nationwide wireless carrier.Oil prices are climbing to their highest levels since May, with Brent crude near $115 a barrel and West Texas Intermediate above $101, as uncertainty over efforts to resume U.S.-Iran negotiations raises concerns about further supply disruptions. Treasury yields fell sharply Thursday as investors sought safety amid the equity selloff, with the 10-year yield dropping below 5% for the first time in nearly a month.In pre-market trading, S&P 500 futures fell 0.37%, Nasdaq futures fell 0.19% and Dow futures fell 0.77%.Check out this morning's top movers from around Wall Street, compiled by The Fly.UP AFTER EARNINGS -RingCentralup 15%Robert Halfup 8%Rithm Capitalup 5%GrafTechup 2%SLBup 2%Gorman-Ruppup 1%First Citizensup 1%Booz Allenup 1%DOWN AFTER EARNINGS -Infosysdown 8%Flagstar Bankdown 7%Deckers Outdoorsdown 7%Autolivdown 5%Bloom Energydown 4%VeriSigndown 3%American Expressdown 2%Western Digitaldown 2%

The Gorman-Rupp Company Declares Quarterly Cash Dividend of $0.20

The Board of Directors of The Gorman-Rupp Company has declared a quarterly cash dividend of 20c per share on the common stock of the company, payable December 10 to shareholders of record November 13. The cash dividend will represent a 5.3% increase over the 19c dividend per share paid in the previous quarter.

Company Reports Q3 Revenue of $193.3M, Exceeding Expectations

Reports Q3 revenue $193.3M, consensus $181.55M. Scott A. King, President and CEO, commented, "We are very pleased with our Q3 results, which included record net sales, gross margin, and earnings per share. This marks the third consecutive quarter with record earnings per share and the second consecutive quarter with record sales. Our sales growth was broad-based with all of our markets showing growth over the same quarter last year. Our margins remained strong as increased volumes drove leverage on labor, overhead and SG&A expenses. These operating improvements, together with lower interest expense, contributed to record earnings and strong cash generation. Solid operating cash flow allowed us to reduce total debt by $58.0M during the first nine months of the year while also continuing to invest in the business. Incoming orders and backlog remain healthy, and our diverse markets and strong financial position provide a solid foundation as we enter the Q4."