Graham Backs FY23 Adj. EBITDA, Revenue Outlook - Update

(RTTNews) - While reporting a profit and higher net sales in its first quarter, Graham Corp. (GHM), a manufacture of mission critical fluid, power, heat transfer and vacuum technologies, Friday maintained its fiscal 2023 adjusted EBITDA and revenue outlook.

Revenue for the year is expected to remain in the $135 million to $150 million range, with gross margin of approximately 16 percent to 17 percent. The company projects high single-digit top-line growth.

Adjusted EBITDA for fiscal 2023 is still expected to be approximately $6.5 million to $9.5 million, yielding an adjusted EBITDA margin of approximately 5 percent to 6 percent.

Capital expenditures for fiscal 2023 are expected to be $4.5 million to $5.5 million.

Daniel Thoren, President and CEO, said, "Although global supply chain challenges remain, we are in a much better position to understand these challenges and make necessary pivots to improve our growth and profitability profile which furthers our confidence that we can deliver on our earnings guidance for the year."