Pump manufacturer Gorman Rupp reported second quarter sales of $97.9 million compared to $96.3 million during the second quarter of 2016, a 1.7-percent increase. Excluding sales from the New Orleans Permanent Canal Closures & Pumps project of $2.5 million in the second quarter of 2016, net sales jumped 4.4 percent of $4.1 million. Domestic sales, excluding that project, increased 3 percent while international sales increased 7.1 percent compared to the same period in 2016.
Sales in Gorman Rupp’s larger water markets, excluding the PCCP project, increased 5.1 percent of $3.2 million in the second quarter of 2017 compared to the previous year. Sales in the construction market jumped $3.5 million primarily because of sales to rental market customers related to the oil-and-gas industry. Sales in the municipal market, excluding PCCP, increased by $1.1 million, driven largely by increased shipments of large volume wastewater pumps.
Sales increased 3 percent in non-water markets during the second quarter of 2017, while sales in the industrial and petroleum markets increased a combined $1.3 million primarily because of an increase in oil and gas drilling activity. These increases were partially offset by decreased sales of $0.4 million in the OEM market related to power generation equipment and services.
Net sales for the first six months of the year were $190.5 million compared to $196.5 million during the same period in 2016, a 3.1-percent slide. Saels in the construction market increased $4.6 million primarily because of sales to rental market customers. Sales of repair parts jumped $1.4 million year over year.
“We are pleased with our second quarter performance, including sales growth in the construction and industrial markets and higher gross and operating margins,” said president and CEO Jeffrey Gorman. “Our incoming orders also increased 15 percent over the first quarter, most notably in the municipal and fire protection markets. Although some soft spots remain, it is encouraging to see increases in capital spending within the oil and gas markets as well as what we believe is the bottoming of the agricultural market. We remain committed to long-term growth both domestically and internationally along with an equitable return for our shareholders.”
