Welcome to our dedicated page for TAT Technologies news (Ticker: TATT), a resource for investors and traders seeking the latest updates and insights on TAT Technologies stock.
TAT Technologies Ltd. (NASDAQ: TATT) is a prominent player in the aerospace and defense industries, specializing in thermal management solutions, flow management systems, and environmental control solutions. Established in 1969, TAT Technologies has amassed over five decades of expertise, becoming a vital asset in both commercial and military sectors.
Operating primarily through four segments—Original Equipment Manufacturing (OEM), MRO services for heat transfer products, MRO services for aviation components, and Overhaul and coating of jet engine components—the company provides comprehensive solutions that include heat exchangers, cooling systems, cold plates, vapor-cycle air conditioning, and a variety of aircraft fuel control accessories.
TAT's subsidiary, Limco Airepair, Inc., based in Tulsa, Oklahoma, serves as an MRO center for heat exchangers, while Piedmont Aviation Component Services, located in Greensboro, North Carolina, focuses on MRO services for aviation components. Together, they bolster TAT's capabilities and reinforce its commitment to delivering top-notch services to its global clientele.
Recent achievements reflect the company's robust growth and strategic advancements. Two years after signing a pivotal deal with Honeywell, TAT completed its investments in advanced machinery, received its first order post-certification, and announced a 26.6% increase in revenues for Q1 2023. This performance is part of a larger trend of consecutive quarters of revenue, profit, and EBITDA growth, driven by strategic investments and operational ramp-ups.
In August 2023, TAT secured a $7.5 million contract for the repair of Boeing 747 thermal components, showcasing its unique capability to handle complex MRO services under stringent FAA and EASA certifications. Additional strategic expansions include a private placement in December 2023, raising approximately $9.8 million to fund corporate initiatives.
As of March 2024, TAT reported continued revenue and EBITDA growth, sustaining momentum with a backlog of over $410 million. The company’s strategic focus on operational efficiency and customer satisfaction underpins its growth trajectory, ensuring long-term profitability and market leadership. TAT Technologies Ltd., through its innovative solutions and strategic partnerships, remains a cornerstone in the aerospace and defense industries.
TAT Technologies (NASDAQ: TATT) has secured a five-year MRO agreement with a major North American cargo carrier, valued at approximately $17 million. Under the agreement, TAT will provide repair and overhaul services for auxiliary power units (APUs) on the carrier's Boeing 757 and 767 aircraft. This contract strengthens TAT's position in the APU cargo carrier market, adding to their existing MRO agreements with major North American cargo carriers.
TAT Technologies (NASDAQ: TATT), a leading provider of products and services for commercial and military aviation and ground defense industries, has announced its participation in The Benchmark Company's Discovery One-on-One Investor Conference. The event will take place on December 11, 2024, at the New York Athletic Club in New York City.
President and CEO Igal Zamir and IR Director Eran Yunger will represent the company and be available for one-on-one meetings throughout the conference day. Interested investors can schedule meetings through The Benchmark Company sales representatives or by contacting TAT Technologies' investor relations team.
TAT Technologies (NASDAQ: TATT) reported strong Q3 2024 financial results with significant growth across key metrics. Revenue increased 35.2% to $40.5 million, marking the 8th consecutive quarter of revenue expansion. Gross profit rose 45.9% to $8.5 million, while net income grew 33% to $2.9 million ($0.26 per diluted share). The company's Adjusted EBITDA showed remarkable growth of 70% to $5.1 million. During Q3, TAT raised $9.9 million through share issuance and reported a positive operating cash flow of $2.8 million. The company's orders and LTA backlog reached $423 million, indicating strong future demand despite ongoing supply chain challenges.
TAT Technologies (NASDAQ: TATT), a provider of products and services for commercial and military aviation and ground defense industries, has scheduled its third quarter 2024 financial results announcement. The company will release its Q3 results for the period ended September 30, 2024, after market close on November 18, 2024. CEO Igal Zamir and CFO Ehud Ben-Yair will host a webcast on November 19, 2024, at 8:15 a.m. ET to discuss the results and provide a business update.
TAT Technologies (NASDAQ: TATT), a leading supplier in the aviation and defense industries, has announced its participation in the LD Micro Main Event XVII on October 29, 2024, at the Luxe Sunset Boulevard Hotel in Los Angeles, CA. The company's CFO, Ehud Ben-Yair, and Director of IR, Eran Yunger, will represent TAT Technologies and be available for one-on-one meetings on October 29 and 30.
The presentation is scheduled for 8:30 a.m. PT (11:30 a.m. ET) on October 29. Investors can access the webcast at https://me24.sequireevents.com/. Those interested in scheduling meetings or learning more about the conference can contact tatt@fnkir.com for additional information.
TAT Technologies (NASDAQ: TATT) announced a private placement of 673,340 Ordinary Shares to Israeli institutional and accredited investors at NIS 54.95 per share (approx. $15.03). This will represent about 6.2% of outstanding shares post-transaction. The company expects to receive net proceeds of approximately NIS 36.5 million ($10.0 million) for general corporate purposes.
Additionally, FIMI Funds, TAT's largest shareholder, will sell 2,349,706 Ordinary Shares to Israeli investors at the same price, totaling NIS 129.1 million ($35.3 million). After both transactions, FIMI Funds will own about 26.8% of TAT's outstanding shares. The private placement is expected to close in September 2024, subject to customary conditions.
TAT Technologies (NASDAQ: TATT), a key provider of products and services for aviation and ground defense industries, has announced its participation in the Lake Street Capital Markets 8th Annual Best Ideas Growth Conference on September 12, 2024 in New York City. The company's management will engage in one-on-one meetings with institutional investors, presenting TAT's growth strategy, recent market expansion, industry certifications, and potential for continued operating leverage.
Investors interested in scheduling meetings with TAT Technologies can contact their Lake Street representative or email tatt@fnkir.com. This conference provides an opportunity for TAT to showcase its position in the commercial and military aviation sectors to potential investors.
TAT Technologies (NASDAQ: TATT) reported strong financial results for Q2 2024, with revenue growing 36.2% to $36.5 million and net income increasing 78% to $2.6 million. The company's performance marks its 7th consecutive quarter of expanding revenues and profits. Key highlights include:
- Gross profit up 47.1% to $8.0 million (21.9% of revenues)
- Operating income rose 78.5% to $2.7 million (7.5% of revenues)
- Adjusted EBITDA increased 69.4% to $4.3 million (11.9% of revenues)
TAT secured orders of over $40 million in Q2, resulting in a record backlog and LTA Value exceeding $414 million. The company also began servicing APUs for newly certified 131 and 331-500 engines, tapping into a market with nearly 20,000 aircraft and an annual potential of about $2 billion.
TAT Technologies (NASDAQ: TATT) reported unaudited Q1 2024 results, showcasing significant growth. Revenues surged by 35.3% to $34.1 million, up from $25.2 million in Q1 2023. Gross profit increased by 65.1% to $7.1 million, and gross margin improved to 20.7%. Adjusted EBITDA grew by 76.8% to $3.7 million, while operating income soared by 133% to $2.2 million. Net income saw a remarkable increase of 221% to $2.1 million. However, cash flow from operating activities was negative $3.5 million, contrasting with a positive $1.7 million in Q1 2023.
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