Demand Softens in Second Quarter for Gorman-Rupp

Pump manufacturer The Gorman-Rupp Co. posted $103.9 million in second quarter net sales, compared to $109.7 million during last year’s second quarter, a 5.3-percent decline. Domestic sales slid 10.8 percent or $8.3 million, while international sales increased 7.9 percent or $2.5 million compared to the same period a year ago.

Sales in the water end markets were comparable between periods, increasing 1 percent, while sales in non-water end markets dropped 19.2 percent or $6.5 million during the quarter.

Of the total $5.8 million decrease in net sales in the second quarter, $2.1 million or 36.2 percent of the decrease was the result of unfavorable foreign currency translation, the company said.

“During the second quarter we continued to see demand weaknesses across most of the diverse markets we serve compared to prior-year periods, as lower gas and oil production, reduced U.S. farm income, flooding in key agricultural growing regions and the strong U.S. dollar continue to negatively impact most of our business,” said Jeffrey Gorman, president and CEO. “One bright spot during the quarter was increased sales in the fire-protection market in both domestic and international areas.”

Gorman-Rupp Co. is based in Mansfield, Ohio.

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