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SIFCO Industries(SIF) - 2025 Q1 - Quarterly Results
2025-02-14 21:40
Exhibit 99.1 Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking stat ...
SIFCO Industries(SIF) - 2025 Q1 - Quarterly Report
2025-02-14 21:29
Financial Performance - Net sales for the first three months of fiscal 2025 increased by $5.4 million to $20.9 million, compared to $15.5 million in the same period of fiscal 2024[81]. - Aerospace components sales for fixed wing aircraft increased by $2.9 million to $12.8 million, while commercial space products increased by $1.1 million to $2.5 million year-over-year[81]. - Cost of goods sold (COGS) increased by $3.9 million, or 24.6%, to $20.0 million, representing 95.6% of net sales during the first three months of fiscal 2025[83]. - Gross profit improved by $1.5 million to $0.9 million in the first three months of fiscal 2025, compared to a gross loss of $0.5 million in the same period of fiscal 2024[84]. - Loss from continuing operations was $2.4 million in the first three months of fiscal 2025, an improvement from a loss of $4.1 million in the same period of fiscal 2024[89]. - Adjusted EBITDA for the first three months of fiscal 2025 was $(248) thousand, an improvement from $(1,851) thousand in the same period of fiscal 2024[93]. Operational Changes - The company sold its European operations in October 2024 to streamline operational synergies and refocus on its core aerospace forging business[77]. - The sale of the CBlade manufacturing operations has ceased future contributions from that business, impacting overall cash flows[96]. Cash Flow and Liquidity - As of December 31, 2024, cash and cash equivalents were $3.1 million, up from $1.7 million as of September 30, 2024[94]. - The company used $3.8 million of cash in operating activities during the first three months of fiscal 2025, primarily due to a net operating loss of $2.4 million[99]. - Cash provided by financing activities was $9.2 million in the first three months of fiscal 2025, compared to $2.6 million in the same period of fiscal 2024[102]. - The company believes existing cash will be sufficient to finance operations and planned capital expenditures over the next 12 months[98]. - The company reported a cash flow usage of $1.5 million in the first three months of fiscal 2024, primarily due to a net operating loss of $4.1 million[100]. - The company anticipates that cash flows from operations may be used to pay down outstanding debt amounts[103]. - The tightening of the credit market could negatively impact the company's ability to obtain additional debt financing[104]. - The company has no off-balance sheet arrangements that could materially affect its financial condition as of December 31, 2024[95]. Capital Expenditures - Capital expenditures for the first three months of fiscal 2025 were $0.1 million, with total anticipated capital expenditures for the fiscal year expected to be between $1.5 million and $2.0 million[101]. Taxation - The effective tax rate for the first three months of fiscal 2025 was (0.21)%, compared to (0.15)% for the same period in fiscal 2024[88]. Backlog - The company's total backlog as of December 31, 2024, was $121.9 million, an increase from $104.8 million as of December 31, 2023, with $90.1 million expected to be completed within the next 12 months[80].
Zacks Initiates Coverage of SIFCO Industries With Neutral Recommendation
ZACKS· 2025-02-13 17:40
Zacks Investment Research has recently initiated coverage of SIFCO Industries, Inc. (SIF) , assigning a "Neutral" recommendation to the company's shares. This assessment comes amid a mixed outlook for the company, which has been making notable strides in the aerospace and energy (A&E) space despite industry challenges.SIF, headquartered in Cleveland, OH, is a manufacturer of forgings, sub-assemblies and machined components, primarily serving the A&E markets. It specializes in forging, heat-treating, chemica ...
SIFCO Industries(SIF) - 2024 Q4 - Annual Report
2024-12-24 02:24
Table of Contents 32 SIFCO Industries, Inc. and Subsidiaries Consolidated Statements of Shareholders' Equity (Amounts in thousands) C. CASH EQUIVALENTS | --- | --- | --- | --- | --- | |---------------------------------------------|-------|--------|-------|--------| | Property, plant and equipment: | | | | | | Land | $ | 469 | $ | 469 | | Buildings | | 13,514 | | 13,514 | | Machinery and equipment | | 74,497 | | 79,853 | | Total property, plant and equipment | | 88,480 | | 93,836 | | Less: Accumulated deprec ...
SIFCO Industries(SIF) - 2024 Q4 - Annual Results
2024-12-24 02:15
Exhibit 99.1 Cleveland - SIFCO Industries, Inc. (NYSE American: SIF) today announced financial results for its fourth quarter and fiscal 2024, which ended September 30, 2024. Results for the Fourth Quarter Results for the Fiscal Year 2024 Other Highlights Use of Non-GAAP Financial Measures Forward-Looking Language 1 2 3 | --- | --- | --- | --- | --- | |---------------------------------------------------------------------|-------|------------------------------------|-------------|---------------------------- ...
SIFCO Industries(SIF) - 2024 Q3 - Quarterly Results
2024-08-12 20:53
SIFCO Industries, Inc. ("SIFCO") Announces Third Quarter Fiscal 2024 Financial Results Cleveland - SIFCO Industries, Inc. (NYSE American: SIF) today announced financial results for its third quarter of fiscal 2024, which ended June 30, 2024. Third Quarter Results • Net sales in the third quarter of fiscal 2024 increased 33.9% to $29.3 million, compared with $21.9 million for the same period in fiscal 2023. • Net income for the third quarter of fiscal 2024 was $0.1 million, or $0.01 per diluted share, compar ...
SIFCO Industries(SIF) - 2024 Q3 - Quarterly Report
2024-08-12 20:52
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 June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | |---------------------------------------------------------------------------------------------------|------------------------------------------| | | | | For the transition period from to ...
SIFCO Industries(SIF) - 2024 Q2 - Quarterly Results
2024-05-09 20:57
SIFCO Industries, Inc. ("SIFCO") Announces Second Quarter Fiscal 2024 Financial Results Cleveland - SIFCO Industries, Inc. (NYSE American: SIF) today announced financial results for its second quarter of fiscal 2024, which ended March 31, 2024. Second Quarter Results Year to Date Results Other Highlights CEO Peter W. Knapper stated, "EBITDA, at $926k, turned positive for the quarter as we ramp up deliveries. Our backlog continued to grow and stands at $137.8 million. We are pleased with the progress and con ...
SIFCO Industries(SIF) - 2024 Q2 - Quarterly Report
2024-05-09 20:57
970 East 64th Street, Cleveland Ohio 44103 (Address of principal executive offices) (Zip Code) 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 For the transition period from to Commission file number 1-5978 SIFCO Industries, Inc. (Exact name of re ...
SIFCO Industries(SIF) - 2024 Q1 - Quarterly Report
2024-02-14 21:02
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 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-5978 SIFCO Industries, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 970 East 64th Street, Cleveland Ohio 441 ...