T.A.T. Technologies Ltd ( (TATT) ) has released its Q3 earnings. Here is a breakdown of the information T.A.T. Technologies Ltd presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
TAT Technologies Ltd. is a prominent company providing products and services to the commercial and military aerospace and ground defense sectors, with activities spanning OEM manufacturing and MRO services across multiple subsidiaries.
In its latest earnings report for the third quarter of 2024, TAT Technologies Ltd. announced significant financial growth, highlighting a 35% increase in revenues and a 33% rise in net income compared to the same period last year. The company has also seen an impressive 70% surge in adjusted EBITDA, marking its eighth consecutive quarter of revenue growth.
Key financial metrics include a substantial revenue increase to $40.5 million for the third quarter and $111.1 million year-to-date. Gross profit rose to $8.5 million in Q3, while net income reached $2.9 million, showing strong profitability. Additionally, the company’s cash flow from operations turned positive this quarter, and it successfully raised $9.9 million from the capital markets.
Looking ahead, TAT Technologies is optimistic about continued demand for its products and services, with a growing backlog of orders. Despite challenges in the supply of parts, the company is enhancing its inventory and focusing on process improvements to support future growth and customer satisfaction.
