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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, Inc. (AMEX: SIF) received a notice from NYSE American on February 22, 2023, for noncompliance due to a delay in filing its Quarterly Report on Form 10-Q for the period ending December 31, 2022. This delay is attributed to challenges faced in compiling required financial information following a cyber incident on December 30, 2022. As a result, SIFCO's stock will be listed with an '.LF' indicator until compliance is regained. The company has six months to address this issue and will be monitored for compliance. SIFCO aims to file the necessary documents within the stipulated timeframe to avoid delisting.
SIFCO Industries, Inc. (NYSE American: SIF) reported a net sales decline of 23.4% in Q4 2022, totaling $18.6 million. The company's net loss for the quarter widened to $6.9 million or $(1.18) per diluted share, compared to a loss of $2.5 million in Q4 2021. For fiscal 2022, net sales fell 15.8% to $83.9 million, with a total net loss of $9.6 million. EBITDA was $(2.7 million) for the year. CEO Peter W. Knapper noted challenges in military and commercial aerospace due to macro supply chain issues, while activity increased in space and semiconductor sectors.
SIFCO Industries, Inc. (AMEX: SIF) has announced the appointment of Robert 'Bob' Johnson as an advisor to the CEO and Board of Directors, effective November 16, 2022. Johnson, a former CEO of Honeywell Aerospace, brings extensive experience in the aerospace sector. His advisory role will focus on market direction, strategy, and operational excellence. The press release also includes forward-looking statements that highlight potential risks affecting future business, including economic conditions and pandemic implications.
SIFCO Industries, Inc. (SIF) reported a challenging third quarter for fiscal 2022, ending June 30, with net sales declining by 15.3% to $21.4 million. The company experienced a net loss of $2.7 million or $(0.46) per diluted share, compared to net income of $0.3 million in Q3 2021. EBITDA turned negative at $(0.9 million, down from $2.3 million in the same quarter last year. Year-to-date results mirrored these trends, with a 13.3% decrease in sales to $65.3 million and a net loss of $(2.7 million).
SIFCO Industries, Inc. (NYSE American: SIF) reported its financial results for Q2 of fiscal 2022, ending March 31, 2022. Net sales decreased 1.2% to $24.6 million compared to $24.9 million in Q2 2021. However, the company achieved a net income of $3.6 million, or $0.61 per diluted share, reversing a net loss of $1.5 million in the same quarter last year. EBITDA surged to $5.5 million from $0.7 million in Q2 2021, but adjusted EBITDA fell to $0.7 million from $1.2 million. Year-to-date, sales dropped 12.3% to $43.8 million, with a net loss of $0.05 million for the first half of the year.
SIFCO Industries, Inc. (NYSE American: SIF) reported a 23.3% decrease in net sales for Q1 fiscal 2022, totaling $19.2 million, down from $25.1 million in Q1 fiscal 2021. The company incurred a net loss of $3.7 million, or $(0.64) per diluted share, compared to a net income of $3.0 million, or $0.51 per diluted share, in the previous year. EBITDA also declined to $(2.0) million from $4.1 million in Q1 fiscal 2021, while Adjusted EBITDA fell to $(1.7) million from $1.9 million. CEO Peter W. Knapper noted ongoing challenges due to the pandemic but remains optimistic about future recovery.
SIFCO Industries, Inc. (NYSE American: SIF) reported a 16.3% decline in fourth quarter net sales, totaling $24.3 million compared to $29.1 million the previous year. The company experienced a net loss of $2.5 million or $(0.43) per diluted share, a stark contrast to a net income of $5.0 million or $0.86 per share in Q4 2020. For fiscal 2021, net sales fell 12.3% to $99.6 million, and net loss was $(0.7 million). EBITDA also decreased from $17.2 million in 2020 to $6.3 million.
SIFCO Industries, Inc. (SIF) reported a decline in financial performance for Q3 of fiscal 2021, ending June 30. Net sales were $25.3 million, down 8.8% from $27.8 million in Q3 2020. Net income fell to $0.3 million ($0.04 per diluted share) from $2.3 million ($0.39 per diluted share) a year earlier. EBITDA decreased to $2.3 million from $4.3 million, while Adjusted EBITDA dropped to $2.4 million from $2.8 million. Year-to-date results showed a 10.9% sales decline to $75.3 million, with net income down to $1.8 million ($0.29 per diluted share) from $4.2 million ($0.72).
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