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TAT Technologies Grows Revenue by 34%, Net Income by 139%, and Adjusted EBITDA by 67% for the full year of 2024
Company Delivers 9th Consecutive Quarter of Expanding Revenues NETANYA, Israel, March 26, 2025 /PRNewswire/ -- TAT Technologies Ltd. (TASE: TAT Tech) (NASDAQ:
About this update from Tat Technologies Ltd.
[{"type":"text","content":"Company Delivers 9th Consecutive Quarter of Expanding Revenues\nNETANYA, Israel, March 26, 2025 /PRNewswire/ -- TAT Technologies Ltd. (TASE: TAT Tech) (NASDAQ: TATT) (\"TAT\" or the \"Company\"), a leading provider of products and services to the commercial and military aerospace and ground defense industries, today reported its unaudited results for the three and 12 months ended December 31, 2024 (Q4'24).\n\nFinancial Highlights for the 12 Months Ended December 31, 2024:\nRevenue increased by 34% to $152.1 million, compared to $113.8 million for the same period in 2023.Gross profit increased by 47% to $33 million (21.7% of revenue) up from $22.5 million (19.7% of revenues) in the prior year.Net lncome increased by 139% to $11.2 million, or $1.0 per diluted share, compared to $4.7 million, or $0.51 per diluted share, in 2023.Adjusted EBITDA increased by 67% to $18.6 million, compared to $11.1 million in the prior year.Cash flow from operations was negative ($5.8) million compared to a positive $2.3 million in 2023.Mr. Igal Zamir, CEO and President of TAT Technologies commented: \"TAT Technologies continues to deliver solid execution, marking our ninth consecutive quarter of revenue growth and improved profitability. This positive momentum reflects the early impact of the strategic growth engines introduced over the past years, which we believe will continue to drive our results in the years ahead.\"\n\"In the fourth quarter, we launched our strategic 'Customer First' initiative, which is our key goal for 2025,\" continued Mr. Zamir. \"Our commitment is to deliver exceptional customer service and best-in-class performance, even as the industry continues to face supply chain challenges. As part of this effort, we strategically increased our parts and rotatable inventory in areas where the supply chain is unstable, anticipating continued revenue growth in 2025. While this investment in inventory had a negative effect on our operational cash flow, it positions us to mitigate supply chain risks as we move forward\".\n\"Also in the fourth quarter, TAT won contracts and new orders totaling $47 million, increasing our backlog to a record high of $429 million, and validating our continued confidence in the company's growth trajectory,\" added Mr. Zamir.\n\"In 2024, we expanded our engagement with the US and Israeli investors community, w...