Corporate Delivers 8^th Consecutive Quarter of Increasing Revenues

Corporate will host a webcast to check its monetary effects and lend a industry replace

NETANYA, Israel, Nov. 18, 2024 /PRNewswire/ — TAT Applied sciences Ltd. (NASDAQ: TATT) (“TAT” or the “Company”), a prominent supplier of services and products to the economic and armed forces aerospace and garden protection industries, as of late reported its unaudited effects for the 3 and 9 months ended September 30, 2024 (Q3’24).

Monetary Highlights for 3rd Quarter and First 9 Months of 2024:

• Revenues larger via 35.2% to $40.5 million in Q3’24 vs. $29.9 million for Q3’23. Day-to-date revenues larger via 36% to $111.1 million in comparison to $82.0 million for a similar length utmost hour.
• Improper benefit larger via 45.9% to $8.5 million (21% as a share of revenues) in Q3’24 in comparison to $5.8 million (19.4% as a share of revenues) for Q3’23. Day-to-date rude benefit larger via 51.8% to $23.5 million (21.2% as a share of revenues) vs. $15.5 million (18.9% as a share of revenues) for a similar length utmost hour.
• Web lncome larger via 33% to $2.9 million, or $0.26 in line with diluted proportion in Q3’24, when put next with internet source of revenue of $2.2 million, or $0.24 in line with diluted proportion, in Q3’23. For the nine-month length that ended on September 30, 2024, internet source of revenue larger via 77% to $7.6 million, or $0.69 in line with diluted proportion when put next with a internet source of revenue of $4.3 million, or $0.47 in line with diluted proportion, within the nine-month length that ended on September 30, 2023.
• Adjusted EBITDA larger via 70% to $5.1 million in Q3’24 when put next with $3.0 million in Q3’23. Adjusted EBITDA for the nine-month length that ended on September 30, 2024, larger via 70% to $13.1 million when put next with $7.7 million within the nine-month length that ended on September 30, 2023.
• Money tide from operations in Q3’24 used to be certain $2.8 million in comparison to adverse ($3.7) million in Q3’23. For the nine-month length ended on September 30, 2024, money tide from operations used to be adverse ($4.9) million in comparison to certain $0.5 million within the nine-month length that ended on September 30, 2023.
• All over Q3 2024 the Corporate raised $9.9 million in stocks from the capital markets.

Mr. Igal Zamir, TAT’s CEO and President commented, “TAT delivered record revenue and profitability in the third quarter as we executed on long-term agreements and onboarded new customers. Our increased scale, continued operational efficiency and a 160 basis point expansion of our gross margins enabled an 33% improvement in net income and a 70% improvement in Adjusted EBITDA.”

“As we look towards next year, we see the demand for our products and services continues to grow, as our orders and LTA backlog increased to $423 million,” endured Mr. Zamir. “Supply of parts for APUs and landing gears continues to be challenging. We are preparing ourselves with a higher level of parts inventory in order to be able to better support our customers. We are also very focused on internal processes improvements that will yield with improved profitability and a better turnaround time and on-time delivery for the benefit of our customers. We continue being positive of the outcome into 2025.”

Investor Name Data

TAT Applied sciences will host a webcast to check its monetary effects and lend a industry replace on Tuesday November 19, 2024, at 8:15 a.m. ET.  buyers can check in for the webcast at https://shorturl.at/jHNWV or seek advice from the investor members of the family division of the Corporate’s site at https://tat-technologies.com/investors/. 

Non-GAAP Monetary Measures

To complement the consolidated monetary statements introduced according to GAAP, the Corporate additionally items Adjusted EBITDA.  The changes to the Corporate’s GAAP effects are made with the intent of offering each control and buyers a extra entire figuring out of the Corporate’s underlying operational effects, traits and function. Adjusted EBITDA is calculated as internet source of revenue except for the affect of: the Corporate’s proportion in result of affiliated firms, share-based repayment, taxes on source of revenue, monetary (bills) source of revenue, internet, and depreciation and amortization. Adjusted EBITDA, then again, must now not be thought to be as spare to internet source of revenue and working source of revenue for the length and is probably not indicative of the ancient working result of the Corporate; nor it’s supposed to be predictive of doable while effects. Adjusted EBITDA isn’t measure of monetary efficiency underneath typically authorised accounting ideas and is probably not similar to alternative in a similar way titled measures for alternative firms. See reconciliation of Adjusted EBITDA in pages 13 under.

About TAT Applied sciences LTD

TAT Applied sciences Ltd. is a prominent supplier of services and products and merchandise to the economic and armed forces aerospace and garden protection industries. TAT operates underneath 4 areas: (i) Unedited apparatus production (“OEM”) of warmth switch answers and flying equipment thru its Gedera facility; (ii) MRO services and products for warmth switch elements and OEM of warmth switch answers thru its Limco subsidiary; (iii) MRO services and products for flying elements thru its Piedmont subsidiary; and (iv) Overhaul and coating of jet engine elements thru its Turbochrome subsidiary. TAT controlling shareholders is the FIMI Personal Fairness Charity.

TAT’s actions within the branch of OEM of warmth switch answers and flying equipment basically come with the design, building and form of (i) large area of warmth switch answers, equivalent to pre-coolers warmth exchangers and oil/gas hydraulic warmth exchangers, worn in mechanical and digital techniques on board business, army and industry plane; (ii) environmental keep an eye on and tool electronics cooling techniques put in on board plane in and garden programs; and (iii) quite a lot of alternative mechanical plane equipment and techniques equivalent to pumps, valves, and turbine energy gadgets.

TAT’s actions within the branch of MRO Products and services for warmth switch elements and OEM of warmth switch answers basically come with the MRO of warmth switch elements and to a lesser extent, the producing of sure warmth switch answers. TAT’s Limco subsidiary operates an FAA-certified restore station, which supplies warmth switch MRO services and products for airways, breeze shipment carriers, repairs carrier facilities and the army.

TAT’s actions within the branch of MRO services and products for flying elements come with the MRO of APUs, touchdown gears and alternative plane elements. TAT’s Piedmont subsidiary operates an FAA-certified restore station, which supplies plane feature MRO services and products for airways, breeze shipment carriers, repairs carrier facilities and the army.

TAT’s actions within the branch of overhaul and coating of jet engine elements comprises the overhaul and coating of jet engine elements, together with turbine vanes and blades, fan blades, variable inlet information vanes and afterburner flaps.

For more info of TAT Applied sciences Ltd., please seek advice from our site: 
www.tat-technologies.com

Touch:
Mr. Eran Yunger 
Director of IR
[email protected] 

Cover Harbor for Ahead-Having a look Statements

This press loose accommodates forward-looking statements which come with, with out limitation, statements relating to conceivable or assumed while operation effects. Those statements are hereby recognized as “forward-looking statements” for functions of the safeguard harbor equipped via the Personal Securities Litigation Reform Office of 1995. Those forward-looking statements contain dangers and uncertainties that would motive our effects to vary materially from control’s fresh expectancies. Fresh effects and function may also be influenced via alternative dangers that we are facing in working our operations together with, however aren’t restricted to, basic industry situations within the airline business, adjustments in call for for our services and products and merchandise, the timing and quantity or cancellation of orders, the associated fee and perpetuity of provide of feature portions worn in our operations, the trade of keep an eye on that can happen at the sale via the receiver of the Corporate’s stocks held via our in the past controlling stockholders, and alternative dangers crystal clear from moment to moment within the Corporate’s filings with the Securities Alternate Fee, together with, its annual document on method 20-F and its periodic reviews on method 6-Ok. Those paperwork comprise and establish alternative notable elements that would motive untouched effects to vary materially from the ones contained in our projections or forward-looking statements. Stockholders and alternative readers are cautioned to not playground undue reliance on those forward-looking statements, which talk handiest as of the pace on which they’re made. We adopt refuse legal responsibility to replace publicly or revise any forward-looking observation.

SIGNATURE

Pursuant to the necessities of the Securities Alternate Office of 1934, the registrant has duly led to this report back to be signed on its behalf via the undersigned, thereunto duly approved.

TAT TECHNOLOGIES LTD.
(Registrant)

Through: /s/ Ehud Ben-Yair
Ehud Ben-Yair 
Monetary Officer

Day: November 18, 2024

SOURCE TAT Applied sciences Ltd.

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