Servotronics Q3 Earnings Decline Y/Y, Revenues Increase 7.3% [Yahoo! Finance]
Servotronics, Inc. (SVT)
NASDAQ:AMEX Investor Relations:
servotronics.com/investor-relations
Company Research
Source: Yahoo! Finance
Despite achieving higher revenues through increased sales volume and price adjustments, the company's profitability struggled due to higher overhead costs, an unfavorable product mix and one-time expenses. SVT also saw increased cost of goods sold and borrowing, putting additional strain on margins. As Servotronics continues its post-divestiture journey, the company is focused on aligning its operations with the aerospace and defense sector's specialized demands while addressing cost containment and liquidity issues to drive profitability. Servotronics incurred a third-quarter 2024 loss per share from continuing operations of 18 cents against earnings of 7 cents in the prior-year quarter due to various operational challenges. Total quarterly revenues of $12.4 million increased 7.3% from $11.6 million in the prior-year quarter due to increased sales volume and higher prices. Quarterly earnings were affected by higher overhead costs and a less favorable product mix. Servotroni
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SVT
Sec Filings
- 11/8/24 - Form 10-Q
- 10/15/24 - Form SCHEDULE
- 9/20/24 - Form 8-K
- SVT's page on the SEC website