The Caterpillar of pumps.

The John Deere of water infrastructure equipment.

• Self-Priming Centrifugal Pumps: These pumps are renowned for their rapid self-priming capabilities, handling a wide range of liquids from clear water to slurries and solids across various industries.
• Submersible Pumps: Designed to operate fully submerged, these pumps are extensively used for dewatering, wastewater, and industrial sump applications.
• Standard Centrifugal Pumps: Non-self-priming pumps that provide efficient liquid transfer for general industrial, OEM, and chemical processing needs.
• Positive Displacement Pumps: This category includes rotary gear and diaphragm pumps, engineered for precise fluid handling of viscous liquids, fuels, chemicals, and abrasive slurries.
• Engineered Pumping Systems: Custom-designed and pre-fabricated packaged pump stations tailored for specific municipal, industrial, and commercial applications.

Gorman-Rupp (symbol: GRC) primarily sells its products to other companies and organizations rather than directly to individuals.

The company does not publicly disclose the names of specific major customer companies. Instead, Gorman-Rupp's sales are generally diversified across a broad base of customers in various industries and geographic regions. Its major categories of direct customers include:

• Independent Distributors and Dealers: These companies purchase Gorman-Rupp's pumps and pumping systems and then resell them to a wide array of end-users in markets such as construction, industrial, wastewater, agriculture, mining, and fire protection.
• Original Equipment Manufacturers (OEMs): Gorman-Rupp supplies pumps and related components to other manufacturers who integrate these into their own finished products or systems. These OEMs serve various industrial and commercial sectors.
• Governmental Entities and Municipalities: Gorman-Rupp sells directly to federal, state, and local government bodies, including municipalities for water and wastewater management infrastructure projects, as well as for military applications.

Because Gorman-Rupp sells through these diversified channels and does not typically have individual customer companies that constitute a material portion of its overall revenue (which would require public disclosure), specific company names and their symbols are not available or applicable in this context.

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Scott A. King, President & Chief Executive Officer

Scott A. King became President of The Gorman-Rupp Company in January 2021 and Chief Executive Officer in January 2022. He joined Gorman-Rupp Pumps USA in 2004 as Manufacturing Manager and advanced through several positions, including Director of Manufacturing, Vice President of Operations, General Manager, and Chief Operating Officer. Prior to joining Gorman-Rupp, Mr. King held various roles with Fortune 500 diversified industrial manufacturers.

James C. Kerr, Executive Vice President & Chief Financial Officer

James C. Kerr joined The Gorman-Rupp Company in July 2016. Before this, he served for nine years as the Chief Financial Officer for Jo-Ann Stores, Inc., a retail chain with over $2 billion in sales, and also held financial leadership positions with several other multi-billion dollar companies, primarily in the consumer products sector. Mr. Kerr was also an interim CEO at Jo-Ann Stores. During his tenure as CFO, Jo-Ann Stores was acquired in a take-private transaction by private equity firm Leonard Green in 2011. He began his career in public accounting as an Audit Manager with Arthur Andersen & Co.

Brigette A. Burnell, Executive Vice President, General Counsel & Corporate Secretary

Brigette A. Burnell joined The Gorman-Rupp Company in January 2014. Her prior experience includes serving as Corporate Counsel for a real estate investment bank from 2011 to 2013 and working as an attorney at Jones Day from 2002 through 2011, with time in their Hong Kong, China, and Columbus, Ohio offices.

Barbara A. Woodman, Vice President, Human Resources

Barbara A. Woodman joined The Gorman-Rupp Company in 2013 and was promoted to Vice President, Human Resources in March 2018. She brings over 30 years of human resources experience, including prior work in government contracting, distribution, and equipment rental industries.

Angela M. Morehead, Treasurer & Assistant Secretary

Angela M. Morehead was promoted to Treasurer and Assistant Secretary in April 2019. She previously served as Assistant Treasurer starting in December 2018. Ms. Morehead has a long history with Gorman-Rupp Pumps USA, having worked in various positions including Controller, Assistant Controller, and Cost Manager over 24 years.

Gorman-Rupp (GRC) operates within several addressable markets for its diverse range of pump products and systems. The main products and services offered by Gorman-Rupp include self-priming centrifugal pumps, standard centrifugal pumps, submersible pumps, rotary gear pumps, engine-driven pumps, and packaged lift stations and booster stations.

Addressable Market Sizes:

• Industrial Pumps Market:
  • The global industrial pumps market was estimated at USD 46.4 billion in 2024 and is projected to reach USD 77.1 billion by 2034, growing at a CAGR of 5.3%.
  • Another estimate valued the global industrial pump market at USD 67.44 billion in 2023, with a projection to reach USD 105.15 billion by 2032, exhibiting a CAGR of 5.13%.
  • The U.S. industrial pumps market held an estimated revenue of USD 11 billion in 2024, representing approximately 80% of the North American market share.
• Overall Pumps Market:
  • The global pumps market size was recorded at USD 59.68 billion in 2024 and is projected to reach around USD 92.15 billion by 2034, with a CAGR of 4.44%.
  • The U.S. pumps market generated USD 6,389.7 million in revenue in 2023 and is expected to reach USD 7,565.5 million by 2030, growing at a CAGR of 2.5%.
  • The North America water pump market is projected to increase from US$ 9 billion in 2024 to US$ 12.7 billion by 2031, at a CAGR of 5%.
• Water and Wastewater Pumps Market:
  • The global water and wastewater pumps market size is estimated at USD 19.53 billion in 2025 and is predicted to grow to approximately USD 36.67 billion by 2034, expanding at a CAGR of 7.25%.
  • The U.S. water pump market is estimated to generate USD 10.6 billion in revenue in 2024 and is expected to reach USD 14.6 billion by 2030, with a CAGR of 5.4%.
• Self-Priming Pumps Market:
  • The global self-priming pump market was valued at USD 23.83 billion in 2023 and is expected to reach nearly USD 33.24 billion by 2030, growing at a CAGR of 4.87%.
  • The global self-priming centrifugal pump market was valued at USD 33.45 billion in 2023 and is expected to reach USD 45.23 billion by 2029 with a CAGR of 5.16%.
• Engine-Driven Pumps Market:
  • The global engine-driven pumps market size was recorded at $5,667.06 million in 2021 and is projected to reach $7,428.35 million by the end of 2025. It is expected to reach $12,763.3 million by 2033, growing at a CAGR of 7% from 2025 to 2033.
  • The portable engine-driven pumps market size is estimated at USD 13,750.75 million in 2024 and is projected to reach USD 26,500.50 million by 2032, growing at a CAGR of 8.45%.
• Packaged Pumping Stations Market:
  • The global packaged pumping station market is projected to grow from USD 502.9 million in 2025 to USD 744.4 million by 2035, at a CAGR of 4.0%.
  • The global market for Package Pumping Station was estimated to be worth US$ 486 million in 2024 and is forecast to reach US$ 639 million by 2031 with a CAGR of 4.0%.
  • The global Integrated Prefabricated Pump Station market (a similar category) is projected to reach approximately USD 6.5 billion in 2025, with a CAGR of around 6.5% through 2033.

The Gorman-Rupp Company (GRC) is expected to experience future revenue growth driven by several key factors over the next 2-3 years:

1. Robust and Growing Backlog: A significant driver for Gorman-Rupp's future revenue is its substantial and increasing order backlog. The company's backlog reached $234.2 million in the latest quarter, demonstrating a consistent year-on-year growth averaging 12.7% over the past two years. This strong backlog provides clear visibility into future sales as outstanding orders are executed and delivered.
2. Stable Demand in Niche Markets: Gorman-Rupp operates within the municipal and industrial water segments, which are characterized by stable demand for fluid handling equipment. This consistent need for their specialized products provides a reliable base for ongoing revenue generation.
3. Operational Efficiencies and Supply Chain Management: Improvements in operational execution and efficient supply chain management have contributed to expanding net profit margins. While primarily impacting profitability, enhanced efficiency can also indirectly support revenue growth by enabling competitive pricing, reliable product delivery, and the capacity to handle increased order volumes, thus strengthening the company's market position.
4. Benefits from Facility Optimization: The company has undertaken facility optimization initiatives, including costs related to consolidating National Pump Company operations. Although these activities may introduce short-term costs, they are typically aimed at improving overall operational efficiency, streamlining production, and potentially increasing manufacturing capacity, which can contribute to higher revenue generation in the longer term.

Share Repurchases

• In October 2021, The Gorman-Rupp Company's Board of Directors authorized a share repurchase program of up to $50.0 million of the Company's common stock.
• As of December 31, 2023, approximately $48.1 million remained available for repurchase under this program.

Share Issuance

• The Company awards shares, such as Performance Stock Units (PSUs), under The Gorman-Rupp Company 2015 Omnibus Incentive Plan.

Outbound Investments

• In June 2022, Gorman-Rupp completed the acquisition of Fill-Rite and Sotera, a division of Tuthill Corporation, for $525 million.
• The net transaction value for the Fill-Rite acquisition was approximately $445 million, adjusted for expected tax benefits.
• This acquisition was funded with cash on hand and new debt, including a $350 million term loan and a $90 million unsecured subordinated term loan.

Capital Expenditures

• Capital expenditures for 2024 totaled $14.3 million, primarily directed towards machinery and equipment.
• Planned capital expenditures for the full year 2025 are projected to be approximately $20.0 million.
• Historically, capital expenditures were $13 million in 2023, $7.79 million in 2022, $5.50 million in 2021, and $7.43 million in 2020.