Air Industries Group Reports Strong Q3 2024 Results and Reaffirms Positive Fiscal 2024 Outlook with Expanding Backlog and Improved Profit Margins
Air Industries Group (AIRI)
NASDAQ:AMEX Investor Relations:
airindustriesgroup.com/investor-relations
Company Research
Source: Business Wire
BAY SHORE, N.Y.--(BUSINESS WIRE)--Air Industries Group (“Air Industries”) (NYSE American: AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today announced financial results for the third quarter and nine months ended September 30, 2024, and provides an update on its 2024 business outlook.Q3 2024 Financial Highlights (as compared to Q3 2023):Revenues increased by 2.1%.Gross profit rose significantly by $713,000, an increase of 58%, resulting in gross margin of 15.5% up from the 10.0% achieved in 2023.Operating expenses were reduced by $150,000, or 7.4%.Operating profit for the quarter was $67,000, a substantial improvement over the $796,000 loss in Q3 2023.Net loss narrowed to $404,000, an improvement of nearly $895,000 or 69% over Q3 2023.Adjusted EBITDA (as defined below) was $845,000, an increase of $898,000 from a loss position in 2023. Third Quarter September (Unaudited) 2024 2023 Net Sales$12,555,00
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AIRI
News
- Air Industries Group Secures $33 Million Contract for the CH-53K King Stallion Heavy-Lift Helicopter Components [Yahoo! Finance]Yahoo! Finance
- Air Industries Group Secures $33 Million Contract for the CH-53K King Stallion Heavy-Lift Helicopter ComponentsBusiness Wire
- Air Industries Secures a Contract to Supply Landing Gear Assemblies [Yahoo! Finance]Yahoo! Finance
- Air Industries Group Secures $11 Million Contract for Landing Gear Assemblies for the US Navy E-2D Advanced Hawkeye AircraftBusiness Wire
- Air Industries Group Secures $4.0 Million Contract for F-35 Arresting Gear Components [Yahoo! Finance]Yahoo! Finance
AIRI
Earnings
- 11/14/24 - Miss
AIRI
Sec Filings
- 12/20/24 - Form 8-K
- 12/20/24 - Form EFFECT
- 12/13/24 - Form S-3
- AIRI's page on the SEC website