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Graham Corporation Up 9.41% To $11.74 After Earnings Beat

Monday, February 06, 2023 01:01 PM | InvestorsObserver Analysts

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Graham Corporation Up 9.41% To $11.74 After Earnings Beat

Graham Corporation (GHM) said before open Monday that it earned $0.08 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $39.9 million, beating estimates by $9.9 million.

In the same quarter a year ago, the company lost $0.27 per share on revenue of $28.8 million.

The stock is up 9.41% to $11.74 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Graham Corporation a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 72. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Graham Corporation manufactures and sells critical equipment for the energy, defense, and chemical/petrochemical industries based with emphasis on the United States. Its suite of products includes ejectors, surface condensers, turbopumps, compressors and liquid vacuum pumps, among others. For the defense industry, its equipment is used in nuclear propulsion power systems for the U.S. Navy. For the chemical and petrochemical industries, its equipment is used in fertilizer, ethylene, methanol and downstream chemical facilities. The company derives key revenue from the sale of Heat transfer equipment. It derives revenue from the US and other countries.

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