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Air Industries Group (AIRI)
NYSE MKT:AIRI
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Earnings Data
Report Date
Apr 01, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.02Last Year’s EPS
-$0.21Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 14, 2024
|% Change Since: -26.63%
|Next Earnings Date:Apr 01, 2025
Earnings Call Sentiment|Positive
The earnings call presented a generally optimistic outlook with strong backlog growth, improved gross margins, and reductions in operating losses. However, challenges remain with a net loss reported, increased debt, and ongoing material cost inflation and lead time extensions.Company Guidance
During the Air Industries Group Q3 2024 earnings call, the company provided a comprehensive update on its financial performance and business outlook. Key metrics highlighted included a 2.1% increase in consolidated net sales to $12.6 million compared to the same quarter last year, alongside a gross profit increase of over $700,000 or 58% from 2023, with the gross profit margin rising by more than 5 percentage points to 15.5%. Operating income showed a substantial turnaround, reaching $67,000 from a loss of $796,000 in Q3 2023. Adjusted EBITDA improved significantly by $898,000 for the quarter, with a net loss narrowing to $404,000 or $0.12 per share from a loss of $1,299,000 or $0.40 per share in the previous year. The backlog of undelivered fully funded customer orders stood at $104 million, reflecting a 4% increase since June 30, 2024, and a 22% increase since January 1, 2024. The company reaffirmed its fiscal 2024 guidance, projecting at least $50 million in net sales and an expectation for adjusted EBITDA to surpass 2023 levels, while anticipating consistent revenue with improved gross margins in 2025.Increased Backlog and Strong Order Flow
Backlog of undelivered fully funded customer orders surpassed $104 million, marking a 4% increase since June 30, 2024, and a 22% increase since January 1, 2024. The book-to-bill ratio was 1.4:1, above the industry standard of 1.2:1.
Improved Gross Margins
Gross profit in dollars increased by over $700,000 or 58% compared to 2023, with gross profit as a percentage of sales reaching 15.5%, an increase of more than 5 percentage points compared to 2023.
Reduced Operating Expenses and Improved Operating Income
Operating expenses were reduced by $150,000 or 7.4% compared to Q3 of last year. Operating income improved to $67,000 from a loss of $796,000 in Q3 of 2023.
Significant Improvement in Adjusted EBITDA
Adjusted EBITDA improved by $898,000 for the quarter and $1,134,000 for the nine months.
Positive Outlook for 2024 and Beyond
Reaffirmed guidance targeting at least $50 million in net sales for fiscal 2024 with adjusted EBITDA expected to significantly surpass 2023 levels. Anticipated improvements in gross margins and operating income for 2025.
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AIRI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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AIRI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 14, 2024 | $5.82 | $4.79 | -17.70% |
| Aug 14, 2024 | $3.75 | $3.55 | -5.33% |
| May 15, 2024 | $6.79 | $5.36 | -21.06% |
| Apr 01, 2024 | $4.71 | $5.13 | +8.92% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Air Industries Group (AIRI) report earnings?
Air Industries Group (AIRI) is schdueled to report earning on Apr 01, 2025, TBA Not Confirmed.
What is Air Industries Group (AIRI) earnings time?
Air Industries Group (AIRI) earnings time is at Apr 01, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AIRI EPS forecast?
AIRI EPS forecast for the fiscal quarter 2024 (Q4) is $0.02.
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