Graham Corp Files 2024 10-K

TL;DR

Graham Corp's 2024 10-K is in. Full year financials and biz ops detailed.

AI Summary

Graham Corporation filed its 10-K for the fiscal year ending March 31, 2024, detailing its operations in general industrial machinery and equipment. The company, headquartered in Batavia, NY, reported on its financial performance and business activities. Key financial data and operational aspects are presented in this comprehensive annual filing.

Why It Matters

This filing provides investors and analysts with a detailed overview of Graham Corporation's financial health, operational performance, and strategic outlook for the past fiscal year.

Risk Assessment

Risk Level: low — This is a standard annual financial filing with no immediate red flags or urgent disclosures.

Key Numbers

• 0331 — Fiscal Year End (Indicates the end of the reporting period for financial statements.)

Key Players & Entities

• GRAHAM CORP (company) — Filer of the 10-K
• 20240331 (date) — Fiscal year end date
• 20240607 (date) — Filing date
• Batavia, NY (location) — Company headquarters

FAQ

Key Financial Figures

• $0.10 — ch registered Common Stock, Par Value $0.10 Per Share GHM NYSE Securities reg
• $390,868 — 4 Our backlog at March 31, 2024 was $390,868 compared with $301,734 at March 31, 202
• $301,734 — rch 31, 2024 was $390,868 compared with $301,734 at March 31, 2023. For more information
• $3,944 — , fiscal 2023 and fiscal 2022, we spent $3,944, $4,144 and $3,845, respectively, on re
• $4,144 — 2023 and fiscal 2022, we spent $3,944, $4,144 and $3,845, respectively, on research a
• $3,845 — iscal 2022, we spent $3,944, $4,144 and $3,845, respectively, on research and developm

Filing Documents

• ghm-20240331.htm (10-K) — 3543KB
• ghm-ex21_1.htm (EX-21.1) — 9KB
• ghm-ex23_1.htm (EX-23.1) — 5KB
• ghm-ex31_1.htm (EX-31.1) — 13KB
• ghm-ex31_2.htm (EX-31.2) — 13KB
• ghm-ex32_1.htm (EX-32.1) — 10KB
• ghm-ex97_1.htm (EX-97.1) — 54KB
• img102392226_0.jpg (GRAPHIC) — 46KB
• 0000950170-24-070222.txt ( ) — 16755KB
• ghm-20240331.xsd (EX-101.SCH) — 2182KB
• ghm-20240331_htm.xml (XML) — 3770KB

Business

Business 3 Item 1A

Risk Factors

Risk Factors 8 Item 1B Unresolved Staff Comments 21 Item 1C Cybersecurity 21 Item 2

Properties

Properties 23 Item 3

Legal Proceedings

Legal Proceedings 23 Item 4 Mine Safety Disclosures 23 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24 Item 6 Reserved 24 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 39 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 72 Item 9A

Controls and Procedures

Controls and Procedures 72 Item 9B Other Information 74 Item 9C Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 74 PART III Item 10 Directors, Executive Officers and Corporate Governance 75 Item 11

Executive Compensation

Executive Compensation 75 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 75 Item 13 Certain Relationships and Related Transactions, and Director Independence 75 Item 14 Principal Accounting Fees and Services 75 PART IV Item 15 Exhibits, Financial Statement Schedules 76 Item 16 Form 10-K Summary 79 1 Cautionary Note R egarding Forward-Looking Statements This Annual Report on Form 10-K (the "Form 10-K") and other documents we file with the Securities and Exchange Commission ("SEC") include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements for purposes of this Form 10-K. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by the forward-looking statements. Forward-looking statements are indicated by words such as "anticipate," "believe," "continue," "could," "estimate," "can," "may," "might," "intend," "expect," "plan," "goal," "predict," "project," "outlook," "encourage," "potential," "should," "will," "strive," "future," and similar words and expressions. Forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, and there are certain important factors that could cause our actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements including those described in the "Risk Factors" and elsewhere in this Form 10-K. Undue reliance should not be placed on our forward-looking statements. New risks and uncertainties arise from time to time and we cannot predict these events or how they may affect us and cause actual results to differ materially from those expressed or implied by our forwa

Business

Item 1. Business Graham Corporation ("we," "us," "our" or the "Company") is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy and process industries. We design and manufacture custom-engineered vacuum, heat transfer, cryogenic pump and turbomachinery technologies. For the defense industry, our equipment is used in nuclear and non-nuclear propulsion, power, fluid transfer, and thermal management systems. For the space industry our equipment is used in propulsion, power and energy management systems, and for life support systems. We supply equipment for vacuum, heat transfer and fluid transfer applications used in energy and new energy markets including oil refining, cogeneration, and multiple alternative and clean power applications including hydrogen. For the chemical and petrochemical industries, our equipment is used in fertilizer, ethylene, methanol and downstream chemical facilities. Our corporate headquarters is located with our production facilities in Batavia, New York, where surface condensers and ejectors are designed, engineered, and manufactured for the defense, energy and petrochemical markets. Our wholly-owned subsidiary, Barber-Nichols, LLC ("BN"), based in Arvada, Colorado, designs, develops, manufactures and sells specialty turbomachinery products for the space, aerospace, cryogenic, defense and energy markets. In November 2023, we acquired P3 Technologies, LLC ("P3"), located in Jupiter, Florida (See "Acquisition" below). We also have wholly-owned foreign subsidiaries, Graham Vacuum and Heat Transfer Technology Co., Ltd. ("GVHTT"), located in Suzhou, China and Graham India Private Limited ("GIPL"), located in Ahmedabad, India. GVHTT provides sales and engineering support for us throughout Southeast Asia. GIPL provides sales and engineering support for us in India and the Middle East. We were incorporated in Delaware in 1983 and are the successor

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View this 10-K filing on SEC EDGAR