Welcome to our dedicated page for Servotronic news (Ticker: SVT), a resource for investors and traders seeking the latest updates and insights on Servotronic stock.
Servotronics Inc. (SVT) is a leading designer and manufacturer of precision servo-control components for aerospace, defense, and industrial applications. This news hub provides investors and industry professionals with comprehensive updates on the company's operational developments and market position.
Track all critical announcements including quarterly earnings reports, new product launches, government contract awards, and strategic partnerships. Our curated collection ensures timely access to filings, press releases, and analysis-worthy developments affecting SVT's performance in advanced control systems markets.
Key focus areas include innovations in aircraft component technology, defense sector contracts, and operational efficiency initiatives. The repository serves as an essential resource for monitoring SVT's progress in maintaining its position as a preferred supplier to major aerospace manufacturers and government agencies.
Bookmark this page for streamlined access to Servotronics' latest financial disclosures, leadership updates, and technological advancements. Stay informed about developments impacting one of the precision engineering sector's most established specialists through verified, up-to-date information.
Beaver Hollow Wellness (BHW), the largest active shareholder of Servotronics (NASDAQ: SVT), has issued a response to the company's amended proxy statement filed April 22, 2025. BHW criticizes the board's insertion of 'change of control' compensation provisions, which could trigger accelerated equity awards and enhanced severance benefits for executives if a majority of directors are replaced.
BHW's chairman, Paul L. Snyder III, argues that the board is prioritizing executive payouts over shareholder value. The activist investor aims to implement lean manufacturing principles, improve supply chain operations, and enhance deliverability. BHW has nominated four professionals with expertise in aerospace, finance, manufacturing, and governance: Paul L. Snyder III, Christine R. Marlow, Michael W. Dolpp, and Charles C. Alfiero.
Servotronics (NYSE: SVT), a manufacturer of servo-control components for aerospace applications, has announced its Board of Directors is initiating a strategic review of alternatives. The company has engaged Houlihan Lokey as financial advisor and Bond, Schoeneck & King PLLC as legal counsel for this process.
The strategic review will evaluate various options including capital investments, potential sale of the company, or maintaining current operations. Chairman Christopher Marks highlighted the company's progress in transformation efforts over the past three years as a commercial aerospace supplier, while CEO William F. Farrell, Jr. emphasized continued commitment to customers, employees, and suppliers during this process.
The company has not established a timeline for completing the review and notes there is no guarantee that any transaction will be consummated. Updates will only be provided if required by law or deemed appropriate by management.
Servotronics (SVT) reported mixed financial results for Q4 and full-year 2024. While annual performance showed improvements, Q4 faced significant challenges. Full-year 2024 highlights include:
- Revenue grew 3.0% to $44.9 million
- Gross profit increased to $8.3 million (18.4% margin)
- Operating loss improved 52.2% to ($1.0) million
- Loss per share of ($0.60), better than ($1.44) in 2023
- Operating cash flow improved to $1.3 million
Fourth quarter 2024 showed decline:
- Revenue fell 20.8% to $9.8 million
- Operating loss of ($1.1) million vs. $0.5 million profit in Q4 2023
- Loss per share of ($0.50) vs. $0.15 profit in Q4 2023
The company attributes Q4 challenges to industry headwinds and deferred customer deliveries, but maintains a positive outlook for 2025, citing strong positioning on major commercial airline platforms including 737 Max, 787, and A320 family.
Servotronics (SVT) is facing a proxy fight for control as Paul Snyder III, the company's largest individual shareholder with 15.2% ownership, challenges the current board. Snyder has introduced the SAVE Servotronics plan, a comprehensive strategy aimed at revitalizing the Elma, New York-based aerospace servo valve manufacturer.
The plan focuses on four key areas: strategic leadership, accountability and transparency, value creation, and employee empowerment. Through the first nine months of 2024, Servotronics reported a net loss of $251,000 on sales of $35.1 million. The company's stock price remains stagnant at 2016 levels, while the S&P 500 has nearly tripled during the same period.
On January 13, 2025, Snyder initiated a proxy contest to secure board seats for himself, Charles 'Chris' Alfiero, and two other nominees. Subsequently, on January 28, he demanded an internal investigation into potential unjust enrichment at the company.
Beaver Hollow Wellness, a major shareholder of Servotronics (SVT), has issued letters to shareholders and the Board of Directors presenting the S.A.V.E. proposal to address critical financial stability concerns. The company reports that despite three years of attempted collaboration with the Board, including offers of executive support and strategic industry connections, their proposals were declined.
The shareholder claims the Board and CEO have failed to stabilize the business and create stakeholder value, instead enriching themselves at the company's expense. The S.A.V.E. proposal aims to: improve manufacturing capabilities, regain customer confidence, restore employee morale, and reverse shareholder value decline.
The plan includes Strategic Evaluation, Financial Stabilization, Customer Engagement, Workforce Development, and collaboration with the University of Buffalo. Beaver Hollow Wellness has proposed new director nominees, including a potential interim CEO, with expertise in change management and operational effectiveness.
Servotronics (SVT) reported Q3 2024 financial results with revenues of $12.4 million, up 7.3% year-over-year, driven by higher volumes and improved pricing. Gross profit decreased 9.2% to $2.3 million, with margins declining to 18.2% due to unfavorable product mix and higher overhead costs. The company incurred $0.6 million in legal costs for a pending settlement with its former CEO. Adjusted operating income remained stable at $0.3 million. Despite industry-wide supply chain, quality, and labor force challenges impacting customer production, the company reported strong demand and backlog, with operating cash flows improving by $4.9 million compared to 2023.
Servotronics (NYSE American: SVT) reported strong financial results for Q2 2024. Revenue increased 15.3% to $12.3 million, driven by higher volumes and improved pricing. Gross profit rose to $3.1 million (25% of revenue), up from $1.6 million (14.6%) in Q2 2023. Operating income improved to $0.7 million (5.4% of revenue) compared to a loss of $1.7 million last year. Net income from continuing operations was $0.6 million ($0.22 per diluted share), a significant improvement from a net loss of $3.3 million in Q2 2023.
The company attributed the strong performance to increased customer demand, operational efficiencies, and reduced SG&A expenses. Servotronics expects continued strong demand in key end markets for the remainder of the year.
Servotronics, Inc. (NYSE American – SVT) has announced the passing of Director Edward C. Cosgrove on July 4, 2024, after a brief illness. Christopher Marks, Chairman of the Board, expressed deep sadness and gratitude for Mr. Cosgrove's long-standing service and support. Cosgrove, who served on the Board since 2012, had a distinguished career as an FBI Special Agent, Erie County District Attorney, and legal practitioner.
The Servotronics Board has decided to reduce its size from six to five members rather than replace Cosgrove's position. Servotronics specializes in designing and manufacturing servo controls and components for various commercial and government applications, including aerospace and defense industries, at its facilities in Elma and Franklinville, New York.
Servotronics, Inc. (NYSE American – SVT) announced improved first-quarter 2024 financial results driven by strong industry demand and production enhancements. Revenues grew 15.3% to $10.4 million, with gross profit up 75.6% to $1.7 million. Operating costs decreased by 480 basis points, leading to an operating loss improvement of $0.9 million. The net loss from continuing operations was $0.4 million compared to $1.0 million in the first quarter of 2023. The company's focus on profitable growth, operational excellence, and new market expansion contributed to the positive results.
Servotronics, Inc. provided an investor update highlighting its progress in achieving long-term strategic vision and affirming its 2024 financial outlook. The company focused on robust sales performance, leadership enhancements, growth in key markets, strategic divestiture, and corporate brand renewal. The CEO expressed pride in the team's accomplishments and outlined plans for future growth and profitability. Servotronics aims to target new markets and generate long-term value for shareholders.
