TAT Technologies reports Q2 EPS 30c vs. 25c last year

Reports Q2 revenue $43.1M, consensus $43.84M. CEO Igal Zamir commented: “TAT Technologies (TATT) delivered another quarter of organic growth and improved profitability, with Q2 revenue growing 18% year over year, adjusted EBITDA increasing 39%, and $7M in cash generated from operations. We continue to outpace the industry, despite certain slowdowns in MRO activity, by leveraging the diversification of our business across trading and MROOEM segments. Over the last month, MRO intake began to re-accelerate, providing greater visibility and reinforcing our confidence in continued year-over-year growth. In addition to the double-digit revenue growth, the value of our LTA and backlog grew by approximately $85M to $524M, which will flow into revenue over the coming years…This quarter, we successfully completed a capital raise of $45M, further strengthening our balance sheet…As we scale, we are also taking steps to strengthen our Board of Directors with capabilities to support the next phase of the company’s development. We remain focused on scaling the business and creating tangible, long-term value for our shareholders.”