Graham Corp Up 10.13% To $12.89 After Earnings Beat

Graham Corporation (GHM) surpassed earnings projections on 6/8/2023 for Q4 2023. reported that it broke-even during the quarter. Revenues were upbeat at $43 million. That is an increase of 8.28% in revenues from the year-ago report and is 17.88% higher than consensus estimates set at $36.5 million. The stock is up 10.13% to $12.89 after the report.Despite revenues increasing, earnings decreased, signaling a decline in profit margins.Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.Graham Corp has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 76, putting Graham Corp in the top 25% of stocks. The firm set a 52-week high on March 7, 2023 at $14.66 and set a 52-week low on July 6, 2022 at $6.51.Graham Corporation manufactures and sells critical equipment for the energy, defense, and chemical/petrochemical industries based with emphasis on the United States. Its suite of products includes ejectors, surface condensers, turbopumps, compressors and liquid vacuum pumps, among others. For the defense industry, its equipment is used in nuclear propulsion power systems for the U.S. Navy. For the chemical and petrochemical industries, its equipment is used in fertilizer, ethylene, methanol and downstream chemical facilities. The company derives key revenue from the sale of Heat transfer equipment. It derives revenue from the US and other countries.