Graham Corporation Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Graham Corporation has filed its quarterly report (10-Q) for the period ending December 31, 2023, detailing its financial performance and operational status.</b>

AI Summary

GRAHAM CORP (GHM) filed a Quarterly Report (10-Q) with the SEC on February 5, 2024. Graham Corporation filed a 10-Q report for the period ending December 31, 2023. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on March 31st. Graham Corporation is incorporated in Delaware and headquartered in Batavia, NY. The SIC code for Graham Corporation is 3560 (General Industrial Machinery & Equipment).

Why It Matters

For investors and stakeholders tracking GRAHAM CORP, this filing contains several important signals. This 10-Q filing provides investors with an updated view of Graham Corporation's financial health and operational progress during the third quarter of fiscal year 2024. Understanding the details within this report is crucial for assessing the company's current market position, potential risks, and future growth prospects.

Risk Assessment

Risk Level: medium — GRAHAM CORP shows moderate risk based on this filing. The filing is a standard quarterly report, indicating ongoing operations and compliance, but lacks specific financial performance data to suggest a strong bullish or bearish sentiment. The risk level is medium due to the inherent uncertainties in the industrial machinery sector.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to identify any significant trends or changes in performance compared to previous periods.

Key Numbers

• 20231231 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-02-05 — Filing Date (FILED AS OF DATE)
• 0331 — Fiscal Year End (FISCAL YEAR END)
• 3560 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• GRAHAM CORP (company) — FILER
• GHM (company) — tk
• 2024-02-05T00:00:00.000Z (date) — dt
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 0000716314 (company) — CENTRAL INDEX KEY
• 3560 (industry) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (jurisdiction) — STATE OF INCORPORATION
• NY (jurisdiction) — STATE

Forward-Looking Statements

• Graham Corp. will face continued pressure on net income in the next quarter if SG&A expenses remain elevated and gross margins do not improve. (Graham Corp.) — medium confidence, target: 2024-03-31

FAQ

Industry Context

Graham Corporation operates in the industrial machinery and equipment sector, which is subject to cyclical demand and technological advancements.

Regulatory Implications

As a publicly traded company, Graham Corporation is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the financial statements within the 10-Q for revenue, net income, and cash flow trends.
2. Review any disclosures regarding new contracts, product developments, or market conditions.
3. Compare the company's performance in this quarter to the same quarter in the previous year.

Key Dates

• 2023-12-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-02-05: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is a 10-Q filing, representing a quarterly update. A comparison to the previous filing (likely a 10-Q for the quarter ending September 30, 2023, or an 8-K if there were material events) would be necessary for a full analysis of changes.

Key Financial Figures

• $0.10 — ch registered Common Stock, Par Value $0.10 Per Share GHM NYSE Indicate by ch

Filing Documents

• ghm-20231231.htm (10-Q) — 1976KB
• ghm-ex31_1.htm (EX-31.1) — 12KB
• ghm-ex31_2.htm (EX-31.2) — 12KB
• ghm-ex32_1.htm (EX-32.1) — 8KB
• img101497535_0.jpg (GRAPHIC) — 61KB
• img101497535_1.jpg (GRAPHIC) — 103KB
• img101497535_2.jpg (GRAPHIC) — 69KB
• 0000950170-24-011023.txt (&nbsp;) — 9461KB
• ghm-20231231.xsd (EX-101.SCH) — 1393KB
• ghm-20231231_htm.xml (XML) — 1635KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 31 Part II. OTHER INFORMATION Item 1A.

Risk Factors

Risk Factors 32 Item 6. Exhibits 33

Signatures

Signatures 34 2 GRAHAM CORPORATION AND SUBSIDIARIES FORM 10-Q DECEMBER 31, 2023

– FINANCI AL INFORMATION

PART I – FINANCI AL INFORMATION

Unaudited Condensed Con solidated Financial Statements

Item 1. Unaudited Condensed Con solidated Financial Statements GRAHAM CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS O F OPERATIONS (Amounts in thousands, except per share data) (Unaudited) Three Months Ended Nine Months Ended December 31, December 31, 2023 2022 2023 2022 Net sales $ 43,818 $ 39,873 $ 136,463 $ 114,091 Cost of products sold 34,095 33,646 108,572 95,840 Gross profit 9,723 6,227 27,891 18,251 Other expenses and income: Selling, general and administrative 8,429 5,284 21,563 15,828 Selling, general and administrative – amortization 383 274 930 821 Operating income 911 669 5,398 1,602 Loss on extinguishment of debt 726 — 726 — Other expense (income), net 93 ( 63 ) 280 ( 188 ) Interest expense, net 37 294 277 697 Income before (benefit) provision for income taxes 55 438 4,115 1,093 (Benefit) provision for income taxes ( 110 ) 70 899 245 Net income $ 165 $ 368 $ 3,216 $ 848 Per share data Basic: Net income $ 0.02 $ 0.03 $ 0.30 $ 0.08 Diluted: Net income $ 0.02 $ 0.03 $ 0.30 $ 0.08 Weighted average common shares outstanding: Basic 10,775 10,611 10,709 10,613 Diluted 10,920 10,660 10,792 10,632 See Notes to Condensed Consolidated Financial Statements. 3 GRAHAM CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEM ENTS OF COMPREHENSIVE INCOME (Amounts in thousands) (Unaudited) Three Months Ended Nine Months Ended December 31, December 31, 2023 2022 2023 2022 Net income $ 165 $ 368 $ 3,216 $ 848 Other comprehensive income (loss): Foreign currency translation adjustment 137 161 ( 173 ) ( 519 ) Defined benefit pension and other postretirement plans net of income tax expense of $ 47 and $ 38 for the three months ended December 31, 2023 and 2022, resp

View Full Filing

View this 10-Q filing on SEC EDGAR