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SIFCO Industries(SIF) - 2025 Q3 - Quarterly Results
2025-08-14 20:04
Exhibit 99.1 SIFCO Industries, Inc. ("SIFCO") Announces Third Quarter and First Nine Months of Fiscal 2025 Financial Results Cleveland — SIFCO Industries, Inc. (NYSE American: SIF) today announced financial results for its third quarter and first nine months of fiscal 2025, which ended June 30, 2025. ◦ Net sales in the first nine months of fiscal 2025 increased 7.0% to $62.0 million, compared with $58.0 million for the same period in fiscal 2024. ◦ Net loss from continuing operations for the first nine mont ...
SIFCO Industries(SIF) - 2025 Q3 - Quarterly Report
2025-08-14 20:03
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, 2025 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 001-05978 SIFCO Industries, Inc. (Exact name of registrant as specified in its charter) | Ohio | 34-0553950 | | --- | --- | | (State or other j ...
SIFCO Industries Q2 Loss Narrower, Stock Declines Post-Earnings
ZACKS· 2025-05-21 17:31
Core Viewpoint - SIFCO Industries, Inc. experienced a decline in share price following its earnings report for Q2 and the first half of fiscal 2025, despite a recent surge in stock performance over the past month, indicating mixed investor sentiment [1] Revenue and Earnings Overview - For Q2 ended March 31, 2025, SIFCO reported net sales of $19 million, a 7.3% decrease from $20.5 million in the same quarter last year, primarily due to raw material sourcing issues [2] - The net loss from continuing operations narrowed to $1.3 million, or $(0.22) per diluted share, compared to a loss of $2.2 million, or $(0.38) per share, in the prior year [2] - Total net loss for the quarter was $1.4 million, an improvement from the $1.6 million loss a year ago [2] Half-Year Performance - For the first half of fiscal 2025, net sales increased by 10.9% to $39.9 million from $35.9 million in the previous year [3] - The net loss from continuing operations decreased to $3.7 million, or $(0.62) per diluted share, down from $6.3 million, or $(1.05) per share, last year [3] - Total net loss for the first six months was $3.7 million compared to $5 million a year earlier [3] Profitability and Operational Metrics - Gross profit for Q2 rose 5.1% to $1.6 million from $1.5 million despite declining revenues [4] - SG&A expenses decreased by 16.6% to $2.4 million from $2.8 million, contributing to reduced operating losses [4] - The operating loss for the quarter was $0.8 million, an improvement from $1.3 million a year ago [4] EBITDA Trends - EBITDA for Q2 improved to $0.4 million from a loss of $0.2 million in the prior year [6] - Adjusted EBITDA swung to a loss of $0.2 million from a positive $0.2 million in the previous year, primarily due to an unfavorable LIFO inventory adjustment of $(0.6) million [6] - For the first half, EBITDA was $(0.4) million compared to $(2.7) million last year, while adjusted EBITDA improved to a loss of $(0.4) million from $(1.7) million previously [7] Management Commentary - CEO George Scherff highlighted operational improvements and emphasized the focus on throughput and margin-enhancing initiatives despite sales challenges [8] - The order backlog reached $129.2 million, indicating solid demand from aerospace and energy markets [8] Factors Behind Financial Results - The revenue decline was attributed to raw material shortages, but cost controls, particularly lower SG&A expenses and interest costs, helped mitigate losses [9] - Interest expenses dropped 47.7% to $0.4 million from $0.8 million in the prior-year quarter [9] Balance Sheet and Asset Management - Current assets fell to $38.1 million as of March 31, 2025, from $54.3 million as of September 30, 2024, largely due to the removal of discontinued operations [12] - The revolving credit facility balance decreased to $8.9 million from $20.1 million, indicating significant deleveraging [12] - Shareholders' equity increased to $32.4 million from $30.4 million, mainly due to positive adjustments in accumulated other comprehensive income [12] Guidance and Future Outlook - SIFCO did not provide specific financial guidance but noted a growing backlog as a positive indicator of sustained demand [13] - Management did not quantify expectations or provide adjusted earnings targets [13] Other Developments - The financials reflected the impact of completed divestitures, with discontinued operations having minimal impact this year compared to the previous fiscal year [14] - No new acquisitions or divestitures were announced during the quarter [14]
SIFCO Industries(SIF) - 2025 Q2 - Quarterly Results
2025-05-15 20:15
Exhibit 99.1 SIFCO Industries, Inc. ("SIFCO") Announces Second Quarter and First Half of Fiscal 2025 Financial Results Cleveland — SIFCO Industries, Inc. (NYSE American: SIF) today announced financial results for its second quarter and first half of fiscal 2025, which ended March 31, 2025. Second Quarter Results First Half Results Other Highlights "Our second quarter was focused on identifying opportunities for margin improvement and increasing throughput at both plants." said George Scherff, Chief Executiv ...
SIFCO Industries(SIF) - 2025 Q2 - Quarterly Report
2025-05-15 20:13
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, 2025 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 001-05978 SIFCO Industries, Inc. (Exact name of registrant as specified in its charter) | Ohio | 34-0553950 | | --- | --- | | (State or other ...
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
Core Viewpoint - Zacks Investment Research has initiated coverage of SIFCO Industries, assigning a "Neutral" recommendation amid a mixed outlook for the company, which is making progress in the aerospace and energy sectors despite industry challenges [1] Company Overview - SIFCO Industries, based in Cleveland, OH, manufactures forgings, sub-assemblies, and machined components primarily for the aerospace and energy markets, specializing in forging, heat-treating, chemical processing, and machining services [2] Financial Performance - SIFCO Industries reported a 20.5% revenue increase in fiscal 2024, reaching $79.6 million, driven by strength in its aerospace and energy segments [3] - The company achieved positive adjusted EBITDA of $0.8 million in fiscal 2024, recovering from a $2.6 million loss in fiscal 2023 [3] Growth Drivers - Key factors for future growth include a strong backlog of $114.4 million at the end of fiscal 2024, up from $97.4 million the previous year, providing revenue visibility [4] - In fiscal 2025, $85 million of this backlog is scheduled for delivery, positioning the company to benefit from ongoing demand in defense and commercial aerospace [4] - SIFCO's niche expertise in high-quality forgings and components is expected to capitalize on industry trends [4] Market Positioning - SIFCO Industries' stock has underperformed compared to industry peers and the broader market over the past year, with valuation metrics reflecting investor caution regarding the company's financial health and future profitability [6] - The company's financial risks and operational challenges are currently limiting near-term upside unless sustained profitability improvements and stronger cash flow generation are demonstrated [6] Strategic Considerations - The company faces supply chain disruptions and rising labor costs, which continue to pressure profitability [5] - Higher debt costs and intense competition in the aerospace components market are additional challenges [5] - The lack of presence in next-generation aviation technologies is a concern for potential investors [5]
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 | --- | --- | --- | --- | --- | |---------------------------------------------------------------------|-------|------------------------------------|-------------|---------------------------- ...