Graham Corp
NYSE:GHM
Graham Corp
Graham Corp. engages in the design, manufacture, and sale of equipment for the energy, defense, chemical, and petrochemical industries. The company is headquartered in Batavia, New York and currently employs 331 full-time employees. The firm designs and manufactures custom-engineered ejectors, vacuum pumping systems, surface condensers and vacuum systems. Its equipment is found in applications, such as metal refining, pulp and paper processing, water heating, refrigeration, desalination, food processing, pharmaceutical, heating, ventilating and air conditioning. The firm's products are used in a range of industrial process applications in energy markets, including petroleum refining, defense, chemical and petrochemical processing, power generation/alternative energy and other. Its customers include end-users of its products in their manufacturing, refining and power generation processes; engineering companies that build installations for companies in various industries, and the original equipment manufacturers.
Graham Corp. engages in the design, manufacture, and sale of equipment for the energy, defense, chemical, and petrochemical industries. The company is headquartered in Batavia, New York and currently employs 331 full-time employees. The firm designs and manufactures custom-engineered ejectors, vacuum pumping systems, surface condensers and vacuum systems. Its equipment is found in applications, such as metal refining, pulp and paper processing, water heating, refrigeration, desalination, food processing, pharmaceutical, heating, ventilating and air conditioning. The firm's products are used in a range of industrial process applications in energy markets, including petroleum refining, defense, chemical and petrochemical processing, power generation/alternative energy and other. Its customers include end-users of its products in their manufacturing, refining and power generation processes; engineering companies that build installations for companies in various industries, and the original equipment manufacturers.
Revenue Growth: Revenue rose 21% year-over-year to $56.7 million, driven by strong performance in defense and energy markets.
Profitability: Adjusted EBITDA increased 50% to $6 million with a margin of 10.7%, reflecting productivity and operating leverage.
Record Backlog: Backlog reached an all-time high of $515.6 million, up 34% year-over-year, providing strong future revenue visibility.
Bookings Strength: Book-to-bill ratio was 1.3x for the quarter and 1.6x year-to-date, supported by robust defense and space demand.
Upgraded Guidance: Full-year revenue guidance was raised to $233–239 million and adjusted EBITDA to $24–28 million.
M&A Activity: Completed FlackTek acquisition for $35 million plus up to $25 million in earnouts, adding a third technology platform and expanding addressable markets.
Strategic Investments: Completed major facility expansions and upgrades, especially in defense, to support future growth and efficiency.
Strong Cash Position: Ended the quarter with $22.3 million in cash, maintaining ample liquidity for growth and integration.
