Yahoo Finance M-tron Industries (MPTI) Q4 Earnings & Revenues Top Estimates
M-tron Industries, Inc. MPTI reported lower-than-expected results in fourth-quarter 2023. Both adjusted earnings and revenues missed the Zacks Consensus Estimate.
On a year-over-year basis, earnings declined but revenues increased on strong aerospace and defense product shipments.
Michael Ferrantino, MPTI’s chief executive officer, said, “MtronPTI had a great first year as a public company. We focused on improving our topline results each quarter while maintaining and improving margins wherever possible and maintaining our vigilance on general and administrative costs. We look forward to the continuing success of MtronPTI while helping our motivated employees and valued customers reach their goals in 2024 and beyond.”
Inside the Headline Numbers
M-tron Industries reported adjusted earnings per share of 3 cents, missing the consensus estimate of 48 cents by 93.8%. The reported figure decreased 57.1% from 7 cents a year ago due to one-time expenses for stock options.
M-tron Industries, Inc. Price, Consensus and EPS Surprise
M-tron Industries, Inc. price-consensus-eps-surprise-chart | M-tron Industries, Inc. Quote
Quarterly revenues of $10.8 million marginally missed the consensus mark of $11.2 million by 3.6%. The reported figure increased 24.2% from the year-ago quarter’s levels.
As of Dec 31, 2023, the total backlog was $47.83 million compared with $46.2 million at 2022-end. The company’s sales funnel continues to be strong due to the new product offering and provides excellent technical and customer service to its customers.
Adjusted EBITDA was $2.4 million, which increased from $1.1 million reported in the year-ago quarter.
Financials
As of Dec 31, 2023, M-tron Industries had cash and cash equivalents of $3.9 million compared with $0.9 million at the end of 2022. Inventories were $8.9 million compared with $7.5 million at 2022-end.
Zacks Rank
M-tron Industries currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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