Graham (GHM) Misses Q3 EPS by 56c, Offers Guidance

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Go back to Graham (GHM) Misses Q3 EPS by 56c, Offers Guidance

Graham Corporation Reports Third Quarter Fiscal 2022 Results

February 7, 2022 4:43 PM EST

Revenue of $28.8 million, up 6% over prior-year period; Fiscal year-to-date revenue
increased 16% Diluted loss per share of $0.35 primarily due to Navy project labor and material cost overruns at Batavia facility Added more contract resources in Batavia, NY to ensure timely execution of defense projects; significantly contributed to third quarter loss Suspended dividend; obtained waiver of financial covenants and is working with lender to amend credit facility in fourth quarter Defense industry revenue and order backlog validate success of strategy to diversify beyond refining and... More