Business briefs: Gorman-Rupp financials, May economic forum, Phoenix Brewing anniversary

Mansfield News Journal
·3 min read

Gorman-Rupp reports first quarter 2023 financial results

The Gorman-Rupp Company has reported financial results for the first quarter that ended March 31. Net sales of $160.5 million increased 57.1%, or $58.3 million, compared to the first quarter of 2022, a 17.9% increase excluding sales from Fill-Rite which was acquired in May 2022. First quarter net income was $6.5 million, or $0.25 per share, compared to net income of $7.5 million, or $0.29 per share, for the first quarter of 2022. Incoming orders of $167 million increased 49.1% when compared to the same period in 2022, an increase of 12.3% excluding Fill-Rite.

Scott King, president and chief executive officer, noted Gorman-Rupp continues to deliver "strong organic growth" and incoming orders also continued at a good pace and backlog remains at record levels. King said inventory grew as planned during the quarter to support order volume and backlog.

Regional economic forum to be held May 19

The Richland Area Chamber & Economic Development along with the Regional Manufacturing Coalition will host the 2023 Regional Economic Forum, sponsored by The Eichinger-Brafford-McClead Group at Merrill Lynch, at noon May 19 at the Westbrook Country Club in Mansfield.

Tickets are $25 and include lunch. The program begins at 1 p.m. Guest speakers include Robert Alt, president and CEO of The Buckeye Institute, a nonprofit policy organization in Columbus that promotes pro-growth policies, and Jerry James, president of Artex Oil Com., an oil and gas producer in Marietta.

For more information or to register, visit richlandareachamber.com.

The Phoenix Brewing Company celebrates nine years

The Phoenix Brewing Company is located at 131 N. Diamond St. in Mansfield.
The Phoenix Brewing Company is located at 131 N. Diamond St. in Mansfield.

The Phoenix Brewing Company in Mansfield is celebrating its ninth anniversary this week with events all week. Events culminate Saturday with a cake cutting, live music, food trucks and the release of a new beer called The Fantastic Voyage, a hazy IPA infused with passionfruit for sweet and twangy citrus notes.

In 2014, the Phoenix brewed on a 5 bbl (150 gallons) system. That quickly expanded to include a second 20-barrel (600 gallons) brewhouse. Ten barrels of fermentation tank space went from 10 barrels to 150 barrels and purchasing a 25,000 square foot warehouse. The staff has grown from five to 22, with seven of those positions being full-time. The taproom-only space has expanded to include two patios and the new Spirit Room. The beer portfolio started with only four offerings. The portfolio adjusts every year, but there are typically over 70 offerings throughout the year including collaborations with other breweries and non-profit organizations.

For more information about the celebration week, visit phoenixbrewing.com/nine.

LaRose announces record first quarter business creation

COLUMBUS − Ohio Secretary of State Frank LaRose announced another strong month for new business growth this year with 18,881 new business filings in March. The first quarter of 2023 saw the highest new business creation in state history with 51,881 new business filings.

Here are some quick facts:

  • 18,810 new businesses were created in March, a 527 filing decrease from March 2022.

  • 51,881 new businesses were created so far in 2023, a 1,485 filing increase from the same point in 2022.

  • 2019, 2020 and 2021 were all record-setting years in Ohio for new business creation. In 2021, Ohio surpassed the annual filing record with 197,010 new business filings.

Ohio entrepreneurs can visit OhioSoS.gov/BusinessResources to discover the opportunities available to them start and grow a business.

Dayton Freight named 2022 LTL Carrier of the Year by ProTrans

DAYTON — Dayton Freight Lines, a leading provider of regional less-than-truckload (LTL) transportation services, received for the first time a 2022 LTL Carrier of the Year Excellence Award from ProTrans.

The recognition honors one carrier each year for superior performance in on-time service, capacity and overall customer service performance. ProTrans is an award-winning Indianapolis based transportation and supply chain management provider that specializes in Third-Party Logistics (3PL), Freight Consolidation, Freight Management Services, and Inventory and Fulfillment Management.

Dayton Freight has more than 70 service centers in 15 Midwest states, including Mansfield.

This article originally appeared on Mansfield News Journal: Gorman-Rupp, economic forum, Phoenix Brewing Company, dayton Freight