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Jun 30, 2024
M-Tron Industries Q2 2024 Earnings Report
Reported strong financial results with net income increasing due to continued strong defense program product and solution shipments.
Key Takeaways
M-tron Industries reported a strong second quarter with a 16.4% increase in revenues and a 36.6% increase in net income compared to Q2 2023. The company's gross margin also improved, driven by higher revenues, improved production efficiencies, and a shift to higher margin products. Management has raised the outlook for fiscal year 2024, increasing revenues to a range of $46.0 million to $48.0 million.
Revenues increased 16.4% to $11,808,000 in Q2 2024 compared to $10,140,000 in Q2 2023, driven by strong defense program shipments.
Net income increased 36.6% to $1,744,000 in Q2 2024 compared to $1,277,000 in Q2 2023.
Gross margin improved to 46.6% in Q2 2024 compared to 41.6% in Q2 2023, reflecting improved production efficiencies and product mix.
Adjusted EBITDA increased 30.7% to $2,523,000 in Q2 2024 compared to $1,931,000 in Q2 2023.
Forward Guidance
MPTI management has raised the outlook for fiscal year 2024, increasing revenues to a range of $46.0 million to $48.0 million. MPTI has good visibility for the remaining two quarters of 2024 and expects EBITDA to continue to be in the 19% to 21% range.
Positive Outlook
- Continued momentum in defense-related sales.
- Acceleration in production and shipments during the first half of 2024.
- Good visibility for the remaining two quarters of 2024.
- EBITDA expected to continue to be in the 19% to 21% range.
- Strong order backlog trend since listing is positive and anticipated to continue to grow.
Challenges Ahead
- Actual results may differ materially depending on a number of factors.
- Uncertain financial impact of COVID-19.
- Risks and uncertainties described in the filings made by MPTI with the Securities and Exchange Commission.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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