Allient reports Q3 EPS 13c, consensus 23c

Reports Q3 revenue $125.2M, consensus $124.52M. The company said, “Our focus on improving margin and operational efficiencies has driven solid sequential improvements, even as we navigate softer demand in key industrial and vehicle markets. The initial steps we have taken to streamline our operations and reduce costs through our Simplify to Accelerate NOW initiatives are yielding results, with improved margins and operational flexibility. We remain confident in our ability to align with market conditions and unlock further growth as we head into 2025. As we look ahead, we expect the inventory adjustments by the majority of our customers to be substantially complete by early 2025, allowing for a return to more normalized run rates by mid-year. While we anticipate typical year-end seasonality and continued rebalancing in the fourth quarter, our strategic focus on operational improvements positions Allient (ALNT) to navigate near-term challenges and capitalize on future growth opportunities.”