The following is a summary of the Heroux-Devtek Inc. (HERXF) Q4 2024 Earnings Call Transcript:
Financial Performance:
Heroux-Devtek reported Q4 revenue of $184.1 million, a 18% YoY increase.
Fourth quarter adjusted EBITDA grew by 68.8%, reaching $33.1 million, and the EBITDA margin improved by 540 basis points to 18%.
Q4 Gross profit was $39.4 million, marking 21.4% of sales, while full year gross profit was up to $111.1 million or 17.6% of sales.
Net debt-to-EBITDA ratio improved to 2.3 times, a decrease from 2.7 times the previous year.
Business Progress:
The company has sustained consistent growth with a record backlog of $951 million.
Defense and civil sales improved, particularly on the Boeing 777, Embraer Praetor and E2 programs.
Heroux-Devtek is collaborating with Boeing on advanced landing gear technologies.
A more cautious investment strategy will be implemented, following considerable spending on a past 777 project.
Despite some operating challenges, the company maintains a positive outlook with several new platforms set to boost its growth.
More details: HEROUX-DEVTEK INC IR
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