TAT Technologies reports Q3 EPS 26c vs. 24c last year

Reports Q3 revenue $40.5M vs. $29.9M last year. Mr. Igal Zamir, TAT’s CEO and President commented, “TAT delivered record revenue and profitability in the third quarter as we executed on long-term agreements and onboarded new customers. Our increased scale, continued operational efficiency and a 160 basis point expansion of our gross margins enabled an 33% improvement in net income and a 70% improvement in Adjusted EBITDA. As we look towards next year, we see the demand for our products and services continues to grow, as our orders and LTA backlog increased to $423 million. Supply of parts for APUs and landing gears continues to be challenging. We are preparing ourselves with a higher level of parts inventory in order to be able to better support our customers. We are also very focused on internal processes improvements that will yield with improved profitability and a better turnaround time and on-time delivery for the benefit of our customers. We continue being positive of the outcome into 2025.”