Graham Corporation (GHM) has announced a marked increase in profits for the second quarter, surpassing Wall Street predictions. The company's net income reached $3.28 million, or $0.30 per share, a significant leap from the $0.41 million or $0.04 per share reported in the same quarter last year.
After adjusting for certain items, Graham Corporation's earnings for the period stood at $3.41 million, or $0.31 per share. This performance exceeded analysts' expectations, who had projected earnings of $0.14 per share, according to data from Thomson Reuters. Typically, analysts' forecasts exclude extraordinary items.
The corporation's revenue climbed by 18.8% to $53.56 million, up from $45.08 million in the previous year.
Here’s a snapshot of Graham Corporation's earnings under Generally Accepted Accounting Principles (GAAP) for Q2:
- Earnings: $3.28 million compared to $0.41 million last year.
- Earnings Per Share: $0.30 versus $0.04 in the prior year.
- Revenue: $53.56 million as opposed to $45.08 million a year ago.
**Guidance:** The company projects its full-year revenue to be in the range of $200 to $210 million.
