Techprecision Corporation ( (TPCS) ) has released its Q3 earnings. Here is a breakdown of the information Techprecision Corporation presented to its investors.
TechPrecision Corporation, a custom manufacturer specializing in precision, large-scale fabrication and machined metal components, primarily serves the defense and precision industrial markets through its subsidiaries Ranor and Stadco. The company recently announced its financial results for the third quarter of fiscal year 2025, highlighting a slight decrease in revenue compared to the previous year, but maintaining customer confidence with a substantial backlog.
In the third quarter, TechPrecision reported a consolidated revenue of $7.6 million, a marginal decrease from the previous year’s $7.7 million. The company faced challenges with higher production costs at its Stadco segment, which affected gross profit, resulting in a 15% decline. However, the Ranor segment experienced a favorable project mix, contributing to sustained operating profitability. The company’s backlog stood at $45.5 million, indicating strong customer confidence and future potential.
For the nine months ending December 31, 2024, TechPrecision’s revenue increased by 7% to $24.6 million, driven by favorable project mixes at both Ranor and Stadco. Despite this revenue growth, the company faced a 22% decline in gross profit due to increased production costs at Stadco. The operating loss for the period was $2.5 million, reflecting higher losses at Stadco, while net loss reached $2.9 million.
Looking ahead, TechPrecision remains optimistic about delivering its backlog over the next one to three fiscal years, with expectations of gross margin expansion. The company continues to focus on overcoming challenges in its Stadco segment while leveraging the strengths of its Ranor operations to drive future growth.