NYSE: GHM
GRAHAM CORPCIK 0000716314 · SIC 3560 · General Industrial Machinery
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Graham Corp reports Q4 and fiscal 2026 earnings results ending March 31, 2026
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revenue $245.3M, net income $12.5M. Graham Corp posts 2.2% order surge to record backlog; two acquisitions expand tech base
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Graham Corp sets fiscal 2027 executive pay, grants CEO 18,108 equity units at $99.41/share
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Graham Corp raises $50M in private placement to T. Rowe Price at $83.36/share
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Graham Corp raises CEO salary to $600K, CFO to $400K with higher incentive targets
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Latest financial statements
From 10-Q filed Aug 6, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(Dollar amounts in thousands, except per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 |
|---|---|---|
| Net sales | 71,342 | 55,487 |
| Cost of products sold | 53,541 | 40,766 |
| Gross profit | 17,801 | 14,721 |
| Other operating expenses and income: | ||
| Selling, general and administrative | 12,554 | 9,397 |
| Selling, general and administrative amortization | 507 | 436 |
| Other operating expense (income), net | 588 | (76) |
| Operating income | 4,152 | 4,964 |
| Other expense, net | 89 | 128 |
| Interest income, net | (120) | (177) |
| Income before provision for income taxes | 4,183 | 5,013 |
| Provision for income taxes | 271 | 418 |
| Net income | 3,912 | 4,595 |
| Per share data | ||
| Basic: | ||
| Net income | 0.34 | 0.42 |
| Diluted: | ||
| Net income | 0.33 | 0.42 |
| Weighted average common shares outstanding: | ||
| Basic | 11,597 | 10,927 |
| Diluted | 11,710 | 11,033 |
Condensed Consolidated Balance Sheets (Unaudited)
(Dollar amounts in thousands, except per share data)
| Description | June 30, 2026 | March 31, 2026 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | 26,953 | 6,580 |
| Trade accounts receivable, net of allowances ($287 and $195 at June 30 and March 31, 2026, respectively) | 49,750 | 33,809 |
| Unbilled revenue | 65,884 | 59,868 |
| Inventories | 49,436 | 50,758 |
| Prepaid expenses and other current assets | 5,414 | 4,255 |
| Income taxes receivable | 941 | 1,184 |
| Total current assets | 198,378 | 156,454 |
| Property, plant and equipment, net | 60,747 | 60,330 |
| Prepaid pension asset | 6,669 | 6,633 |
| Operating lease assets | 6,339 | 6,740 |
| Goodwill | 37,326 | 38,078 |
| Customer relationships, net | 15,016 | 15,372 |
| Technology and technical know-how, net | 22,658 | 23,232 |
| Other intangible assets, net | 13,433 | 13,458 |
| Deferred income tax asset | 134 | 131 |
| Other assets | 3,260 | 3,188 |
| Total assets | 363,960 | 323,616 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Current portion of finance lease obligations | 24 | 23 |
| Accounts payable | 24,697 | 25,740 |
| Accrued compensation | 13,142 | 21,547 |
| Accrued expenses and other current liabilities | 8,326 | 4,728 |
| Customer deposits | 113,135 | 102,421 |
| Operating lease liabilities | 1,799 | 1,806 |
| Income taxes payable | — | 5 |
| Total current liabilities | 161,123 | 156,270 |
| Long-term debt | — | 13,000 |
| Finance lease obligations | 15 | 21 |
| Operating lease liabilities | 4,954 | 5,343 |
| Deferred income tax liability | 1,098 | 897 |
| Accrued pension and postretirement benefit liabilities | 1,144 | 1,145 |
| Other long-term liabilities | 3,430 | 6,625 |
| Total liabilities | 171,764 | 183,301 |
| Commitments and contingencies (Note 10) | ||
| Stockholders’ equity: | ||
| Preferred stock, $1.00 par value, 500 shares authorized | — | — |
| Common stock, $0.10 par value, 25,500 shares authorized, 11,901 and 11,247 shares issued and 11,727 and 11,073 shares outstanding at June 30 and March 31, 2026, respectively | 1,190 | 1,124 |
| Capital in excess of par value | 89,409 | 41,699 |
| Retained earnings | 110,641 | 106,729 |
| Accumulated other comprehensive loss | (5,656) | (5,849) |
| Treasury stock (174 shares at June 30 and March 31, 2026) | (3,388) | (3,388) |
| Total stockholders’ equity | 192,196 | 140,315 |
| Total liabilities and stockholders’ equity | 363,960 | 323,616 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(Dollar amounts in thousands)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 |
|---|---|---|
| Operating activities: | ||
| Net income | 3,912 | 4,595 |
| Adjustments to reconcile net income to net cash used by operating activities: | ||
| Depreciation | 1,670 | 1,024 |
| Amortization of intangible assets | 1,050 | 499 |
| Amortization of actuarial losses | 173 | 210 |
| Equity-based compensation expense | 645 | 532 |
| Loss on disposal or sale of property, plant and equipment | 11 | — |
| Change in fair value of contingent consideration | 577 | (76) |
| Deferred income taxes | 157 | 262 |
| (Increase) decrease in operating assets, net of acquisition: | ||
| Accounts receivable | (16,021) | 839 |
| Unbilled revenue | (6,021) | (865) |
| Inventories | 1,230 | 2,642 |
| Prepaid expenses and other current and non-current assets | (1,936) | (167) |
| Income taxes receivable | 237 | 123 |
| Operating lease assets | 366 | 331 |
| Prepaid pension asset | (36) | (35) |
| (Decrease) increase in operating liabilities, net of acquisition: | ||
| Accounts payable | (592) | (3,322) |
| Accrued compensation, accrued expenses and other current and non-current liabilities | (8,557) | (7,266) |
| Customer deposits | 10,846 | (1,265) |
| Operating lease liabilities | (360) | (319) |
| Long-term portion of accrued compensation, accrued pension and postretirement benefit liabilities | (1) | (1) |
| Net cash used by operating activities | (12,650) | (2,259) |
| Investing activities: | ||
| Purchase of property, plant and equipment | (2,609) | (7,004) |
| Acquisitions, net of cash acquired | 1,567 | — |
| Net cash used by investing activities | (1,042) | (7,004) |
| Financing activities: | ||
| Borrowings of debt obligations | — | 6,000 |
| Principal repayments on debt | (13,000) | (6,000) |
| Repayments on financing lease obligations | (87) | (82) |
| Issuance of common stock | 50,000 | — |
| Stock issuance costs | (138) | — |
| Tax withholdings related to net share settlements of restricted stock units and awards | (2,731) | (1,532) |
| Net cash provided (used) by financing activities | 34,044 | (1,614) |
| Effect of exchange rate changes on cash | 21 | 53 |
| Net increase (decrease) in cash and cash equivalents | 20,373 | (10,824) |
| Cash and cash equivalents at beginning of period | 6,580 | 21,577 |
| Cash and cash equivalents at end of period | 26,953 | 10,753 |
Amounts as printed on the EDGAR/iXBRL face — (Dollar amounts in thousands, except per share data); (Dollar amounts in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗