Allient Reports Third Quarter 2024 Results; Simplify to Accelerate NOW Initiatives Drive Sequential Margin Expansion
Allient Inc. (ALNT)
Company Research
Source: Business Wire
Third quarter performance: Revenue was $125.2 million with a gross margin of 31.4% and net income of $2.1 millionImproved margins sequentially: Gross margin up 150 basis points to 31.4%, operating margin up 170 basis points to 5.3%, and adjusted EBITDA margin rose 130 basis points to 11.5%Strong cash flow: $29.5 million of cash generated from operations year-to-date and ended the quarter with $37.1 million of cashCost reductions: Additional Simplify to Accelerate NOW efforts implemented, bringing total annual cost reductions to $10 million BUFFALO, N.Y.--(BUSINESS WIRE)--Allient Inc. (Nasdaq: ALNT) (“Allient” or the “Company”), a global designer and manufacturer of precision and specialty Motion, Controls and Power products and solutions for targeted industries and applications, today reported financial results for its third quarter ended September 30, 2024.“Our focus on improving margin and operational efficiencies has driven solid sequential improvements, even as we navigate soft
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