Shares of Taylor Devices, Inc. (TAYD) have gained 4.7% since the company reported its earnings for the quarter ended May 31, 2025. This compares favorably to the S&P 500 index, which has declined 1.2% in the same time frame. However, over the past month, Taylor Devices’ stock has declined 5.8%, underperforming the S&P 500’s 0.7% growth. This divergence suggests that while the immediate post-earnings reaction was positive, broader market factors or company-specific concerns may have weighed on the shares mor ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 F O R M 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended May 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 000-3498 TAYLOR DEVICES, INC. (Exact name of registrant as specified in its charter) | New York | 16-0797789 | | --- | --- | | ( ...

Shares of Taylor Devices, Inc. (TAYD) have gained 1.9% since the company reported its earnings for the quarter ended Feb. 28, 2025. This compares to the S&P 500 index’s 1.1% decline over the same time frame. Over the past month, the stock has gained 4.8% against the S&P 500’s 3.9% decline.See the Zacks Earnings Calendar to stay ahead of market-making news.For the fiscal third quarter ended Feb. 28, 2025, Taylor Devices reported earnings per share (EPS) of 64 cents, lower than 82 cents a year ago.Sales of $1 ...

Core Insights - Taylor Devices, Inc. reported a decline in sales and net earnings for the 3rd quarter and the first nine months of FY25 compared to the previous year [1][2][3] Financial Performance - 3rd quarter sales were $10,564,834, down from $12,254,093 in the same quarter last year, representing a decrease of approximately 13.8% [1][4] - Net earnings for the 3rd quarter were $2,002,245, a decline from $2,696,921, which is a decrease of about 25.8% [2][4] - For the first nine months, sales totaled $30,731,571, down from $32,517,596, indicating a decrease of approximately 5.5% [1][4] - Net earnings for the first nine months were $5,725,060, down from $6,526,132, reflecting a decrease of about 12.3% [2][4] Management Commentary - The CEO noted that while sales and net earnings fell short of last year's record levels, the current year's first nine-month sales surpassed the previous second-highest sales of $29.5 million set in FY23 [3] - The company highlighted the positive impact of continuous improvements on gross margins despite variations in product mix [3] - The firm order backlog increased to $33.3 million at the end of February, compared to $30.2 million at the same time last year, indicating a positive trend in order volume [3] Company Overview - Taylor Devices, Inc. specializes in the design, development, manufacture, and marketing of shock absorption, rate control, and energy storage devices for various applications [3] - The company is focusing on growth in the domestic Aerospace and Defense market, as well as global Structural Construction and Industrial markets [3]

Financial Performance - Net revenue for the nine months ended February 28, 2025 decreased by $1,786,000, or 5%, compared to the same period in the prior year[34]. - Gross profit for the nine months ended February 28, 2025 was $13,919,000, representing a gross margin of 45%, down from 46% in the prior year[34][35]. - Operating income for the nine months ended February 28, 2025 was $5,869,000, down from $6,966,000 in the same period last year[40]. - Net income for the nine months ended February 28, 2025 decreased by 12% compared to the prior year[34]. - For the three months ended February 28, 2025, net revenue decreased by $1,689,000, or 14%, compared to the same period in the prior year[44]. Sales and Orders - The company had 146 open sales orders in backlog with a total sales value of $33.3 million as of February 28, 2025, compared to 131 orders valued at $30.2 million a year earlier[36]. - Total sales within the U.S. decreased by 13% during the nine-month period ended February 28, 2025, while sales outside the U.S. increased by 61%[34]. - The backlog of sales orders increased to $33.3 million as of February 28, 2025, up from $33.1 million at the end of the prior year[61]. Expenses - Selling, general and administrative expenses increased by 1% to $7,731,000 for the nine months ended February 28, 2025[39]. - Research and development costs for the nine months ended February 28, 2025 were $319,000, a slight decrease of $2,000 from the prior year[38]. - Accrued expenses increased by 71% to $7,997,000 due to prepayments for a project not started[62]. Inventory and Receivables - As of February 28, 2025, total inventory increased by $1,293,000 (17%) to $8,805,000 compared to $7,512,000 at the prior year-end[54]. - Accounts receivable rose by $1,505,000 (29%) to $6,717,000 as of February 28, 2025, from $5,212,000 at the prior year-end[56]. - The average days sales outstanding (DSO) increased from 39 days to 57 days, indicating delayed collections for structural project invoices[57]. - Maintenance and other inventory decreased by $349,000 (22%) to $1,231,000 as of February 28, 2025[54]. Capital Expenditures and Project Status - Capital expenditures for the nine-month period ended February 28, 2025 were $1,158,000, an increase from $755,000 in the same period last year[52]. - The number of projects in progress decreased from 14 to 9, with the aggregate percent complete dropping from 53% to 49%[61]. Other Financial Metrics - The provision for potential inventory obsolescence was zero for the nine-month period ended February 28, 2025, compared to $369,000 for the same period in the prior year[55]. - The balance of Costs and Estimated Earnings in Excess of Billings (CIEB) decreased by $1,127,000 (26%) to $3,230,000 as of February 28, 2025[56]. - Billings in Excess of Costs and Estimated Earnings (BIEC) decreased by $2,368,000 (42%) to $3,233,000 as of February 28, 2025[60].

Core Insights - Taylor Davis and Jingwei Yu from Goodyear Tire & Rubber Company have been recognized as winners of the 2025 Women MAKE Awards, highlighting their contributions to the manufacturing industry [1][2][5] Group 1: Awards and Recognition - The Women MAKE Awards are presented by the Manufacturing Institute to honor women leaders in manufacturing, encouraging them to mentor the next generation [2][5] - Taylor Davis is recognized as an Emerging Leader for her ability to tackle engineering challenges and deliver customer-focused solutions [3][4] - Jingwei Yu is honored for her finance leadership in Goodyear's expansion and sustainability initiatives, particularly in implementing Industry 4.0 automation [4][5] Group 2: Contributions to Goodyear - Taylor Davis has initiated a reverse mentoring program and mentors students and new associates, showcasing her commitment to continuous learning and talent development [3][4] - Jingwei Yu has played a transformative role in connecting Goodyear's manufacturing plants with local universities to promote STEM education, benefiting both the company and the community [5] Group 3: Event Details - The Women MAKE Awards gala will take place on April 24 in Washington, D.C., where Davis and Yu will be recognized among 130 award recipients [5]

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Stock Performance - Shares of Taylor Devices declined 18% since the earnings report for the quarter ended Nov 30 2024 compared to the S&P 500's 06% growth over the same period [1] - Over the past month the stock has declined 237% compared with the S&P 500's 14% decline [1] Financial Performance - Earnings per share (EPS) for the fiscal second quarter were 34 cents down from 56 cents in the prior-year period [1] - Sales for the quarter were $86 million reflecting a 17% decrease from $103 million in the prior-year quarter [2] - Net earnings declined to $11 million compared to $2 million a year earlier a 47% drop [2] Business Metrics - The company's firm order backlog increased to $345 million from $331 million at the beginning of the fiscal year [3] - First-half sales were $202 million the second-highest in company history slightly trailing last year's record of $203 million [3] - Net earnings as a percentage of sales for the first half remained stable at 185% comparable to last year's 189% [3] Management Commentary - Management is committed to pursuing growth opportunities in Aerospace/Defense Structural and Industrial markets [4] - The company's custom-engineered products are critical to its customers and there is optimism about sustaining profitable growth in these markets [4] - Despite the quarterly decline in sales and net earnings the operational pipeline remains strong with a strategic focus on core markets [4] Factors Influencing Performance - The decline in quarterly sales and net earnings was primarily due to reduced sales volume compared to the prior year [5] - The company operates in a competitive and specialized market where sales volumes significantly influence quarterly performance metrics [5]

Revenue and Sales Performance - Net revenue for the six months ended November 30, 2024 decreased by $96,000 (0%) compared to the same period in 2023, with gross profit increasing by $195,000 (2%) to $9,390,000[33] - Sales to Asia increased by 37% during the six months ended November 30, 2024, while U.S. sales decreased by 7%[33] - Net revenue for the three months ended November 30, 2024 decreased by $1,791,000 (-17%) compared to the same period in 2023, with gross profit decreasing by $925,000 (-19%)[43] - Sales to Asia increased by 34% during the three months ended November 30, 2024, while U.S. sales decreased by 21%[43] Research and Development Costs - Research and development costs decreased by $41,000 (-19%) to $172,000 for the six months ended November 30, 2024, representing 0.9% of net revenues[37] - Research and development costs increased by $19,000 (23%) to $103,000 for the three months ended November 30, 2024, representing 1.2% of net revenues[46] Selling, General and Administrative Expenses - Selling, general and administrative expenses increased by $360,000 (7%) to $5,369,000 for the six months ended November 30, 2024, primarily due to increased stock option expense[38] - Selling, general and administrative expenses increased by $166,000 (6%) to $2,839,000 for the three months ended November 30, 2024, primarily due to increased stock option expense[47] Capital Expenditures and Inventory - Capital expenditures for the six months ended November 30, 2024 were $971,000, compared to $545,000 in the same period of the prior year, with commitments for $881,000 in the next twelve months[51] - Inventory increased by $1,099,000 (15%) to $8,611,000 as of November 30, 2024, compared to $7,512,000 at May 31, 2024, with work-in-process inventory accounting for 88% of the total inventory[52][53] - Inventory turnover decreased to 2.3 as of November 30, 2024, compared to 3.0 at May 31, 2024, indicating a slower rate of inventory turnover[52] - Maintenance and other inventory decreased by $152,000 (-10%) to $1,428,000 as of November 30, 2024, compared to $1,580,000 at May 31, 2024, with no provision for potential inventory obsolescence recorded for the six-month period ended November 30, 2024[52][54] Accounts Receivable and Payable - Accounts receivable increased by $3,036,000 (58%) to $8,248,000 as of November 30, 2024, compared to $5,212,000 at May 31, 2024, with the average days sales outstanding (DSO) increasing from 39 days to 87 days[55][56] - Accounts payable decreased by 40% to $857,000 as of November 30, 2024, compared to the prior year-end, while accrued expenses decreased by 48% to $2,497,000 due to the payout of fiscal year 2024 incentive compensation[62] Backlog and Projects in Progress - The company had 156 open sales orders in its backlog as of November 30, 2024, with a total sales value of $34.5 million, expected to be recognized in fiscal years 2025 and 2026[35] - The company's backlog of sales orders increased to $34.5 million as of November 30, 2024, up from $33.1 million at the end of the prior year, with $13.1 million of the backlog for projects already in progress[61] - The number of projects in progress decreased to 18 as of November 30, 2024, compared to 19 at May 31, 2024, with an aggregate percent complete of 48% compared to 53% at the prior year-end[61] - The average total sales value of projects in progress decreased to $1,397,000 as of November 30, 2024, compared to $2,089,000 at May 31, 2024, with 51% of the total value invoiced to customers compared to 56% at the prior year-end[61] Costs and Estimated Earnings - CIEB (Costs and Estimated Earnings in Excess of Billings) decreased by $1,339,000 (-31%) to $3,018,000 as of November 30, 2024, compared to $4,357,000 at May 31, 2024[55][57] - BIEC (Billings in Excess of Costs and Estimated Earnings) decreased by $1,893,000 (-34%) to $3,708,000 as of November 30, 2024, compared to $5,601,000 at May 31, 2024[55][58]

Core Insights - Taylor Devices, Inc. reported record-breaking revenues and net earnings for Q1 fiscal 2025, with EPS rising to 85 cents, a 63.5% increase from 52 cents in the prior-year quarter [1][7] - First-quarter sales grew by 17% year-over-year, reaching $11.6 million compared to $9.9 million in Q1 fiscal 2024, driven primarily by the Aerospace/Defense markets [2][3] - The company’s net earnings surged 44% year-over-year, increasing from $1.9 million in Q1 fiscal 2024 to $2.7 million in Q1 fiscal 2025, reflecting successful growth strategies [5] Business Performance - The strong business momentum is attributed to steady performance across three key product groups: Aerospace/Defense, Structural, and Industrial, with Aerospace/Defense being the primary growth driver [3][4] - Despite challenges in the Structural market due to high interest rates and adverse foreign exchange conditions, the company maintained solid order flow, ensuring a robust order book [4] Key Metrics - The order backlog at the end of Q1 fiscal 2025 was $28.4 million, slightly up from $28.3 million in Q1 fiscal 2024, indicating healthy demand, particularly in Aerospace/Defense [6] - The increase in EPS was also supported by a reduction in shares outstanding from 3.52 million to 3.12 million, reflecting management's confidence in the company's long-term financial health [7]