Air Industries (AIRI) Group announced a recap of its fiscal 2024 results and outlined its strategic vision for continued growth and operational excellence in 2025 and beyond…Fiscal 2024 marked a year of solid growth for Air Industries, with preliminary sales increasing by approximately 6.6% year-over-year. “Each of our Centers of Excellence contributed meaningfully, and both facilities are expected to contribute significantly to Air Industries’ continued success in 2025…Air Industries secured unprecedented levels of new business in 2024, further strengthening its position in the aerospace and defense supply chain: Total bookings increased by 15% compared to 2023, building on a 55% increase in 2023 compared to 2022. The book-to-bill ratio improved to 1.30x as of December 31 up from 1.20x at the close of 2023 and 0.75x in 2022, reflecting a robust pipeline of new orders. Air Industries closed 2024 with its highest backlog levels in company history: Total Backlog Total Backlog grew by $79M or 41%, from 2023, reaching over $270M, 54% higher than at the close of 2022.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AIRI:
- Air Industries Wins $5.9M Defense Contract
- Air Industries secures contract worth $5.9M for US Air Force F-5/T-38 Air
- Closing Bell Movers: Cal-Maine Foods up 5% on Q2 results
- Air Industries Wins $2.6M Navy Contract for Gear Assemblies
- Air Industries gets $2.6M contract for landing gear for US Navy E-2D Hawkeye