TAT Technologies Ltd. (TASE: TAT Tech) (NASDAQ: TATT) is a leading provider of products and services to the commercial and military aerospace and ground defense industries, today reported its unaudited results for the three and 12 months ended December 31, 2024 (Q4’24).
And the results are excellent.
- Revenue increased by 34% to $152.1 million, compared to $113.8 million for the same period in 2023.
- Gross profit increased by 47% to $33 million (21.7% of revenue) up from $22.5 million (19.7% of revenue) in the prior year.
- Net lncome increased by 139% to $11.2 million, or $1.0 per diluted share, compared to $4.7 million, or $0.51 per diluted share, in 2023.
- Adjusted EBITDA increased by 67% to $18.6 million, compared to $11.1 million in the prior year.
- Cash flow from operations was negative ($5.8) million compared to a positive $2.3 million in 2023.
TAT Technologies Ltd., based in Netanya, is a leading provider of services and products to the commercial and military aerospace and ground defense industries.
TAT operates under four segments:
(i) Original equipment manufacturing (“OEM”) of heat transfer solutions and aviation accessories through its Gedera facility;
(ii) MRO services for heat transfer components and OEM of heat transfer solutions through its Limco subsidiary;
(iii) MRO services for aviation components through its Piedmont subsidiary; and
(iv) Overhaul and coating of jet engine components through its Turbochrome subsidiary.
TAT controlling shareholders are the FIMI Private Equity Fund. In the fourth quarter, TAT won contracts and new orders totaling $47 million, increasing our backlog to a record high of $429 million.
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