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Air Industries Group | 10-Q: Q3 2024 Earnings Report

Air Industries Group | 10-Q: Q3 2024 Earnings Report

Air Industries Group | 10-Q：2024財年三季報
美股SEC公告 ·  2024/11/15 01:02

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Air Industries Group reported Q3 2024 revenue of $12.6 million, up 2.1% year-over-year, while gross profit surged 58.1% to $1.9 million. The company significantly narrowed its net loss to $404,000 from $1.3 million in Q3 2023, driven by improved operational efficiency and a higher gross margin of 15.5% compared to 10% last year. Operating expenses decreased 7.4% to $1.9 million.The company's backlog increased to $105.2 million as of September 30, 2024, up from $98.1 million at year-end 2023. Major revenue contributors included RTX at 27.8%, Lockheed at 23.9%, and Northrop at 18.3%, with the GTF and E2-D Hawkeye platforms accounting for over 50% of sales. The company maintained strong relationships with key aerospace and defense contractors.Management successfully met financial covenants for Q2 and Q3 2024, achieving EBITDA of $2.62 million against a requirement of $1.5 million for the nine-month period. The company secured amendments to its credit facility, including a $1 million term loan increase, while continuing strategic investments in new equipment and operational improvements to enhance competitiveness.
Air Industries Group reported Q3 2024 revenue of $12.6 million, up 2.1% year-over-year, while gross profit surged 58.1% to $1.9 million. The company significantly narrowed its net loss to $404,000 from $1.3 million in Q3 2023, driven by improved operational efficiency and a higher gross margin of 15.5% compared to 10% last year. Operating expenses decreased 7.4% to $1.9 million.The company's backlog increased to $105.2 million as of September 30, 2024, up from $98.1 million at year-end 2023. Major revenue contributors included RTX at 27.8%, Lockheed at 23.9%, and Northrop at 18.3%, with the GTF and E2-D Hawkeye platforms accounting for over 50% of sales. The company maintained strong relationships with key aerospace and defense contractors.Management successfully met financial covenants for Q2 and Q3 2024, achieving EBITDA of $2.62 million against a requirement of $1.5 million for the nine-month period. The company secured amendments to its credit facility, including a $1 million term loan increase, while continuing strategic investments in new equipment and operational improvements to enhance competitiveness.
Air Industries Group報告2024年第三季度營業收入爲1260萬美金，同比上漲2.1%，毛利潤激增58.1%，達到190萬美金。由於運營效率的提高和毛利率從去年的10%提升至15.5%，該公司顯著縮小了淨虧損，從2023年第三季度的130萬美金減少至404,000美金。營業費用減少了7.4%，降至190萬美金。截至2024年9月30日，公司的積壓訂單增加至10520萬美金，高於2023年年末的9810萬美金。主要的收入貢獻者包括RTX，佔27.8%，洛克希德佔23.9%，諾斯羅普佔18.3%，GTF和E2-D鷹眼平台的銷售額佔總銷售額的50%以上。公司與主要的航空航天與國防承...展開全部
Air Industries Group報告2024年第三季度營業收入爲1260萬美金，同比上漲2.1%，毛利潤激增58.1%，達到190萬美金。由於運營效率的提高和毛利率從去年的10%提升至15.5%，該公司顯著縮小了淨虧損，從2023年第三季度的130萬美金減少至404,000美金。營業費用減少了7.4%，降至190萬美金。截至2024年9月30日，公司的積壓訂單增加至10520萬美金，高於2023年年末的9810萬美金。主要的收入貢獻者包括RTX，佔27.8%，洛克希德佔23.9%，諾斯羅普佔18.3%，GTF和E2-D鷹眼平台的銷售額佔總銷售額的50%以上。公司與主要的航空航天與國防承包商保持良好的關係。管理層成功滿足了2024年第二季度和第三季度的財務契約，實現了262萬美金的EBITDA，而九個月的要求爲150萬美金。公司獲得了對信貸設施的修訂，包括增加100萬美金的定期貸款，同時繼續在新設備和運營改進方面進行戰略投資，以增強競爭力。

該公告為獨立文件：

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