Tag: GHM

Research News and Market Data on GHM

• Secures new contract to provide the MK19 Air Turbine Pump assembly for the Columbia-class submarine
• Wins new contract to provide cryogenic recirculation pumps for space launch vehicles
• Awarded another option year for alternators and regulators to support the MK48 Mod 7 Heavyweight Torpedo program

BATAVIA, N.Y.–(BUSINESS WIRE)– Graham Corporation (NYSE: GHM) (“GHM” or “the Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer, and vacuum technologies for the defense, space, energy, and process industries, today announced that it was awarded three contracts with a combined value of over $65 million.

Matthew Malone, Vice President, Graham Corporation and General Manager – Barber-Nichols, commented, “We believe the investments we have made in our engineering and operations to expand our capacity and increase our capabilities to serve the defense and space industries led to our being awarded these contracts. We differentiated our solutions through our strong customer relationships, engineering expertise, precision manufacturing capabilities and rigorous testing and qualification processes. Our solutions are vital components that meet the high-level performance requirements for mission critical applications. We appreciate our customers’ confidence to select us for these high-value projects.”

The second option year award supporting the MK48 Mod 7 Heavyweight Torpedo program was received in the first quarter of fiscal 2025 which ended June 30, 2024. The Company will continue to provide alternators and regulators for this program. The contract award for the Company to provide the MK19 air turbine pump for the torpedo ejection system on the Columbia-class submarine was awarded in the second quarter of fiscal 2025 ending September 30, 2024. This is a new program for the Company and was won through a competitive bid process.

Also awarded in the second quarter was a contract to provide the cryogenic recirculation pump that provides thermal conditioning for upper stage engines on launch vehicles in space. The products for all three of these contracts will be manufactured at the Company’s Arvada, Colorado operations.

The revenue for the contracts to provide the second-stage cryogenic recirculation pump and to support the MK48 Mod 7 Heavyweight Torpedo program will be recognized over varied periods for the next three years while revenue for the MK19 program will be recognized over varied periods for the next eight years. The revenue from these awards had been considered in the Company’s outlook for fiscal 2025.

About Graham Corporation
Graham is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy, and process industries. Graham Corporation and its family of global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenic pumps, and turbomachinery technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems. Graham Corporation routinely posts news and other important information on its website, grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.

Safe Harbor Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “believe,” “expects,” “potential,” “will,” and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, winning potential future or multi-year orders, potential revenues and timing of such revenues, and delivering timely or otherwise on schedule are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation’s most recent Annual Report filed with the Securities and Exchange Commission, including under the heading entitled “Risk Factors,” its quarterly reports on Form 10-Q, and other filings it makes with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should any of Graham Corporation’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation’s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240805588155/en/

Christopher J. Thome
Vice President – Finance and CFO
Phone: (585) 343-2216

Deborah K. Pawlowski
Kei Advisors LLC
Phone: (716) 843-3908
dpawlowski@keiadvisors.com

Source: Graham Corporation

Released August 5, 2024

Research News and Market Data on GHM

BATAVIA, N.Y.–(BUSINESS WIRE)– Graham Corporation (NYSE: GHM) (“GHM” or “the Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer, and vacuum technologies for the defense, space, energy, and process industries, announced today that it has been awarded $2.1 million for the expansion of its welder training programs and related equipment. The contract was awarded by BlueForge Alliance, a nonprofit, neutral integrator that supports the U.S. Navy’s Submarine Industrial Base initiatives.

Daniel J. Thoren, President and CEO of GHM, commented, “These are exciting times for our Company as we build out our capabilities and capacity to support America’s defense industry as a part of the U.S. Navy’s Submarine Industrial Base. These funds will help us develop and grow our welder workforce and provide additional equipment needed to improve the efficiency of our production processes. We are proud to be a strategic supplier for the U.S. Navy’s Submarine Industrial Base.”

The funds will be used to increase the Company’s production capacity at its Batavia operation which includes expanding its welding training program and increasing its skilled labor workforce by more than 20 percent. The Company expects to accomplish the workforce expansion by early 2025 to support the U.S. Navy’s submarine construction cadence plans.

About Graham Corporation
Graham is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy, and process industries. Graham Corporation and its family of global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenic pumps, and turbomachinery technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems. Graham Corporation routinely posts news and other important information on its website, grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.

About BlueForge Alliance
BlueForge Alliance is a nonprofit, neutral integrator that supports the U.S. Navy’s Submarine Industrial Base initiatives and efforts to strengthen and sustain the maritime manufacturing sector. BFA is a critical partner in the SIB’s mission to ensure industry has the capability, capacity, and resilience to build and maintain America’s next generation of undersea platforms. The organization’s team of experts in a variety of disciplines focus on addressing critical workforce, technology, and supplier development needs. BFA is headquartered in Bryan/College Station, Texas. For more information, visit www.BlueForgeAlliance.us.

Safe Harbor Regarding Forward Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “anticipates,” “potential,” “will,” and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, winning potential future or multi-year orders, potential revenues and timing of such revenues, capacity, demand growth, and delivering timely or otherwise on schedule are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation’s most recent Annual Report filed with the Securities and Exchange Commission, including under the heading entitled “Risk Factors,” its quarterly reports on Form 10-Q, and other filings it makes with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should any of Graham Corporation’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation’s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240725904233/en/

For more information:
Christopher J. Thome
Vice President – Finance and CFO
Phone: (585) 343-2216

Deborah K. Pawlowski
Kei Advisors LLC
Phone: (716) 843-3908
dpawlowski@keiadvisors.com

Source: Graham Corporation

Released July 25, 2024

Research News and Market Data on GHM

BATAVIA, N.Y.–(BUSINESS WIRE)– Graham Corporation (NYSE: GHM) (“GHM” or “the Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy, and process industries, today announced it will be added to the Russell 2000® and Russell 3000® Indexes, effective after the close of financial markets on June 28, 2024.

“The inclusion in the Russell Indexes marks another milestone for GHM, recognizing the meaningful progress we have made in executing our strategy to drive revenue growth and enhance profitability,” commented Dan Thoren, President and Chief Executive Officer. “We believe that being part of the Russell indexes will increase our visibility within the investment community, improve our liquidity, and attract a broader range of investors.”

Membership in the U.S. Russell 3000® Index, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000® Index, as well as the appropriate growth and value style indexes. The annual Russell indexes reconstitution captures the largest U.S. stocks by market capitalization.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9.1 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider. For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

About Graham Corporation

GHM is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy, and process industries. The Graham Manufacturing and Barber-Nichols’ global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenic pumps, and turbomachinery technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems. Graham Corporation routinely posts news and other important information on its website, grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.

Safe Harbor Regarding Forward Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “believe,” “will,” and other similar words. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation’s most recent Annual Report filed with the Securities and Exchange Commission, including under the heading entitled “Risk Factors,” its quarterly reports on Form 10-Q, and other filings it makes with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should any of Graham Corporation’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation’s forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240628660238/en/

Christopher J. Thome
Vice President – Finance and CFO
Phone: (585) 343-2216

Deborah K. Pawlowski
Kei Advisors LLC
Phone: (716) 843-3908
dpawlowski@keiadvisors.com

Source: Graham Corporation

Released June 28, 2024