Welcome to our dedicated page for SIFCO Industries news (Ticker: SIF), a resource for investors and traders seeking the latest updates and insights on SIFCO Industries stock.
SIFCO Industries, Inc. (symbol: SIF), headquartered in Cleveland, Ohio, is a leading provider of aerospace and energy forged and machined part solutions. The company specializes in components for airframes, landing gears, and engines, serving both military and commercial sectors.
SIFCO's global footprint ensures its presence in most major aerospace programs worldwide. The materials they forge include nickel, super alloys, titanium, aluminum, alloy, and stainless steels, with die forgings ranging from 1lb to 1,200lbs.
The company holds several key certifications, including NADCAP, AS9100, and ISO9001, and is approved by major aerospace manufacturers. This underscores their commitment to quality and industry standards.
SIFCO's vision and mission reflect their dedication to customer success and continuous improvement. Their core values—respect, responsiveness, integrity, and passion—guide their operations and collaborations.
SIFCO Industries is engaged in producing forgings and machined components for aerospace, energy, defense, and commercial space markets. Their services include forging, heat-treating, and machining, catering to both original equipment manufacturers (OEM) and aftermarket customers.
Their products, made of steel, stainless steel, titanium, and aluminum, include OEM and aftermarket components for aircraft and industrial gas turbine engines, steam turbine blades, structural airframe components, aircraft landing gear components, aircraft wheels and brakes, and critical rotating components for helicopters and industrial products.
Substantial revenue is derived from North America, with operations extending into Europe, making SIFCO a significant player in the global aerospace and energy markets.
In recent developments, SIFCO continues to expand its product offerings and improve its processes to meet the evolving needs of its customers and maintain its competitive edge in the industry.
SIFCO Industries (NYSE American: SIF) has appointed Jennifer Wilson Skuhrovec as Chief Financial Officer, effective November 13, 2024. Wilson, who joined SIFCO in 2019, replaces Thomas Kubera, who served as CFO since 2018. Wilson previously served as Director of Financial Planning and Analysis, Controller of the Orange, CA facility, and Director of External Reporting at SIFCO. She is a certified public accountant with an MBA and will oversee the company's financial strategies, including planning, treasury, reporting, audit, tax, and risk management.
SIFCO Industries, Inc. (NYSE American: SIF) has announced the appointment of Robert 'Bob' Johnson to its Board of Directors, effective September 26, 2024. Mr. Johnson brings extensive domestic and international executive experience in the aerospace industry, including expertise in risk management, financial oversight, operations, and strategy. He has been serving as an advisor to SIFCO's Board and CEO since November 2022.
Mr. Johnson's impressive career includes current roles as chairman of the board at Spirit Aerosystems and board member for Spirit Airlines, Roper Industries, Inc., and Elbit Systems of America, His past experience includes serving as CEO of Dubai Aerospace Enterprise and chairman of Honeywell Aerospace. This appointment is expected to bring valuable insights and leadership to SIFCO Industries, Inc.
SIFCO Industries, Inc. (NYSE American: SIF) reported strong financial results for its third quarter of fiscal 2024, ending June 30, 2024. Net sales increased 33.9% to $29.3 million, compared to $21.9 million in the same period last year. The company achieved a net income of $0.1 million, or $0.01 per diluted share, a significant improvement from the net loss of $(0.6) million in Q3 2023. EBITDA more than doubled to $2.7 million, while Adjusted EBITDA reached $3.4 million.
Year-to-date results also showed improvement, with net sales up 23.2% to $76.9 million for the first nine months of fiscal 2024. Despite a net loss of $(4.9) million, this represents an improvement from the $(5.6) million loss in the same period last year. The company's backlog grew to $139.2 million, indicating strong future demand.
SIFCO Industries (NYSE American: SIF), a key supplier of forged products to the aerospace, energy, and defense markets, has appointed George Scherff as its new CEO, effective July 8, 2024. Scherff replaces Peter Knapper, who has served as President and CEO since 2016 and is retiring. Alayne Reitman, Chair of SIFCO’s Board, praised Knapper’s leadership during challenging times, including the global pandemic and supply chain issues. Scherff brings extensive experience from leadership roles in Thermal Systems Manufacturing, Paradigm Packaging, and others. He holds degrees from The Ohio State University and the University of Toledo.
Scherff expressed excitement about guiding SIFCO through new growth opportunities in its industries. SIFCO supplies critical components for commercial and military aircraft, turbines, and oil production equipment.
SIFCO Industries, Inc. announced its financial results for the second quarter of fiscal 2024, showing a 37.9% increase in net sales to $26.5 million. The net loss was $(1.6) million, with EBITDA at $0.9 million. Year to date, net sales increased by 17.4% to $47.6 million, with a net loss of $(5.0) million. CEO Peter W. Knapper highlighted positive EBITDA and a growing backlog at $137.8 million.
FAQ
What is the current stock price of SIFCO Industries (SIF)?
What is the market cap of SIFCO Industries (SIF)?
What does SIFCO Industries, Inc. specialize in?
Where is SIFCO Industries headquartered?
What materials does SIFCO forge?
What kind of certifications does SIFCO hold?
What are some products offered by SIFCO?
Who are SIFCO's main customers?
Where does SIFCO derive substantial revenue from?
What is SIFCO's mission?
What are SIFCO's core values?
How does SIFCO ensure quality in their products?
