Graham Corp · Q2 2025 earnings

Briefing

Reported record revenue and strong margin expansion.

Graham Corporation reported a record revenue of $53.6 million, a 19% increase year-over-year, driven by strength across its markets. The company experienced margin expansion with gross margin improving to 23.9%, net margin increasing to 6.1%, and adjusted EBITDA margin expanding to 10.5%. Strong orders of $63.7 million resulted in a book-to-bill ratio of 1.2x and a record backlog of $407 million.

• Revenue increased 19% to $53.6 million, driven by strength across its markets.
• Gross margin improved to 23.9%, net margin increased to 6.1%, and adjusted EBITDA margin expanded to 10.5%.
• Net income per diluted share was $0.30; adjusted net income per diluted share was $0.31.
• Strong orders of $63.7 million resulted in a book-to-bill ratio of 1.2x and a record backlog of $407 million.

Headline financials

Revenue & EPS history

The Company’s outlook for 2025 was updated as follows: Net Sales $200 million to $210 million, Gross Margin 23% to 24% of sales, SG&A expense (including amortization) 17.0% to 18.0% of sales, Adjusted EBITDA $18.0 million to $21.0 million, Effective Tax Rate 20% to 22%, Capital Expenditures $13.0 million to $18.0 million