Allient (ALNT) came out with quarterly earnings of $0.29 per share, missing the Zacks Consensus Estimate of $0.40 per share. This compares to earnings of $0.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -27.50%. A quarter ago, it was expected that this motion control product maker would post earnings of $0.51 per share when it actually produced earnings of $0.58, delivering a surprise of 13.73%.Over the last four quarters ...

Revenue and Profit Performance - Revenue decreased by 7% to $136.032 million in Q2 2024 compared to $146.769 million in Q2 2023, primarily due to volume decreases in Vehicle and Industrial markets[115] - Gross profit declined by 12% to $40.676 million in Q2 2024, with gross margin decreasing to 29.9% from 31.3% in Q2 2023[115] - Operating income dropped by 59% to $4.879 million in Q2 2024 compared to $12.020 million in Q2 2023[115] - Net income fell by 83% to $1.150 million in Q2 2024 from $6.769 million in Q2 2023[115] - Net income decreased to $8,052 for the six months ended June 30, 2024, compared to $13,084 in 2023, a 38% decline[123] - Adjusted net income for the six months ended June 30, 2024 was $14,403, down from $18,405 in 2023[130] - Revenues decreased by 3% to $282,745 for the six months ended June 30, 2024, compared to $292,318 in 2023[123] - Gross profit decreased to $88,053 for the six months ended June 30, 2024, from $91,811 in 2023, with gross margin declining to 31.1% from 31.4%[124] - Net income for the three months ended June 30, 2024, was $1.15 million, compared to $6.769 million in the same period in 2023[139] - Non-GAAP adjusted net income for the six months ended June 30, 2024, was $14.403 million, compared to $18.405 million in 2023[142] Acquisitions and Organic Revenue - Acquisitions of SNC in Q1 2024 and Sierramotion in Q3 2023 contributed $10.893 million in incremental revenue in Q2 2024[115] - Organic revenue decreased by 14.2% in Q2 2024, partially offset by revenue from acquisitions[115] - Organic revenue decreased by 10.1% for the six months ended June 30, 2024[123] - The company paid $20 million in cash for the acquisition of SNC during the six months ended June 30, 2024[144] Cost Management and Restructuring - The company implemented the "Simplify to Accelerate NOW" strategy, expecting annual cost savings of $5.0 million and incurring $1.5 million in restructuring costs[112] - Selling expenses increased by 6% to $6.662 million in Q2 2024, primarily due to acquisition-related costs[116] - Business development costs increased by 223% to $1,926 for the six months ended June 30, 2024, primarily due to restructuring-related costs[127] Tax and Interest Expenses - The effective tax rate decreased to 20.6% in Q2 2024 from 23.9% in Q2 2023, driven by the realization of deferred tax assets and foreign income mix[120] - The effective tax rate decreased to 21.6% for the six months ended June 30, 2024, compared to 23.6% in 2023[129] - Interest expense increased by 10% to $6,772 for the six months ended June 30, 2024, driven by higher interest rates and increased debt levels[128] - Interest rates on the Credit Facility range from Term SOFR plus 1.25% to 2.50%, with a rate of 1.875% as of June 30, 2024, depending on the company's debt-to-EBITDA ratio[154] - A 1% change in the Base Rate on the $80,962 of unhedged floating rate debt would impact interest expense by approximately $300 for the six months ended June 30, 2024[155] EBITDA and Adjusted EBITDA - EBITDA decreased to $29,843 for the six months ended June 30, 2024, compared to $35,799 in 2023[131] - Adjusted EBITDA was $33,971 for the six months ended June 30, 2024, down from $39,406 in 2023[131] - Adjusted EBITDA for the six months ended June 30, 2024, was $33.971 million, down from $39.406 million in the same period in 2023[139] Cash Flow and Capital Expenditures - Cash and cash equivalents decreased by $609 thousand to $31.292 million as of June 30, 2024, with $26.372 million located at foreign subsidiaries[143] - Capital expenditures for the full year 2024 are expected to be between $11 million and $15 million[145] - The company declared dividends of $0.06 per share during the six months ended June 30, 2024, up from $0.055 per share in 2023[147] Foreign Currency and Hedging - A hypothetical 10% change in the value of the U.S. dollar would impact sales by approximately $4.618 million for the six months ended June 30, 2024[149] - Foreign currency translation adjustments resulted in a loss of $5.586 million for the six months ended June 30, 2024, compared to a gain of $928 million in 2023[150] - The company had foreign currency contracts with notional amounts of $17.089 million at June 30, 2024, to minimize foreign currency exposure[152] - The company uses interest rate swaps to manage interest rate risk, with two swaps totaling $20,000 in March 2020, increasing to $60,000 by March 2022, maturing in December 2024[154] - An additional interest rate swap of $40,000 was entered into in March 2022, maturing in December 2026[154] - As of June 30, 2024, the company had $180,962 outstanding under the Revolving Facility, with $100,000 currently hedged[155] Bookings and Backlog - Bookings remained flat at $137.373 million in Q2 2024, while backlog decreased by 13% to $259.002 million[115]

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:AMN Healthcare Services (AMN) is a travel healthcare staffing company. The Zacks Consensus Estimate for its current year earnings has been revised almost 18.4% downward over the last 60 days.ALLIENT INC (ALNT) designs, manufactures and sells precision and specialty-controlled motion components and systems. The Zacks Consensus Estimate for its current year earnings has been revised 18.9% downward over the last 60 days.Denso (DNZOY) is ...

Allient Inc. (NASDAQ:ALNT) Q1 2024 Results Conference Call May 9, 2024 10:00 AM ET Company Participants Craig Mychajluk - Investor Relations Richard Warzala - Chairman, President and CEO Jackson Trostle - Corporate Controller Conference Call Participants Greg Palm - Craig-Hallum Capital Group Gerry Sweeney - ROTH Capital Ted Jackson - Northland Securities Brett Kearney - American Rebirth Opportunity Partners Operator Greetings and welcome to Allient First Quarter Fiscal Year 2024 Financial Results Conferenc ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |--------------------------------------------------------------------------|------------------------------------------------------|------------------------------ ...

Allient (ALNT) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock may move ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Allient (ALNT) , which belongs to the Zacks Electronics - Miscellaneous Components industry, could be a great candidate to consider.This motion control product maker has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 64.46%.For ...

Allient Inc. (NASDAQ:ALNT) Q4 2023 Earnings Conference Call March 6, 2024 10:00 AM ET Company Participants Craig Mychajluk - Investor Relations Richard Warzala - Chairman, President and CEO Michael Leach - Chief Financial Officer Conference Call Participants Danny Eggerich - Craig-Hallum Capital Group Gerry Sweeney - ROTH Capital Operator Good day, and welcome to the Allient Inc. Corporated Fourth Quarter Fiscal Year 2023 Financial Results Conference Call. [Operator Instructions] After today's presentation, ...

Nasdaq: ALNT March 6, 2024 Fourth Quarter & Full Year 2023 Financial Results Call Dick Warzala Mike Leach Chairman, President & CEO Senior Vice President & CFO ...

Allient (ALNT) came out with quarterly earnings of $0.55 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.43 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 120%. A quarter ago, it was expected that this motion control product maker would post earnings of $0.56 per share when it actually produced earnings of $0.61, delivering a surprise of 8.93%.Over the last four quarters, th ...