Air Industries (US:AIRI) ZACKSยท2024-08-14 14:41Company Performance - Air Industries (AIRI) reported quarterly earnings of $0.09 per share, exceeding the Zacks Consensus Estimate of a loss of $0.21 per share, and compared to a loss of $0.12 per share a year ago, indicating a significant earnings surprise of 142.86% [1] - The company achieved revenues of $13.57 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 13.10%, and showing an increase from $13.21 million in the same quarter last year [1] - Over the last four quarters, Air Industries has surpassed consensus EPS estimates two times and topped consensus revenue estimates four times [1] Stock Performance - Air Industries shares have increased by approximately 15.4% since the beginning of the year, outperforming the S&P 500's gain of 13.9% [2] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [4] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.12 on revenues of $13.25 million, and for the current fiscal year, it is -$0.65 on revenues of $53.01 million [4] - The trend of estimate revisions for Air Industries is mixed, and future changes in estimates will be closely monitored following the recent earnings report [4] Industry Context - The Aerospace - Defense industry, to which Air Industries belongs, is currently ranked in the top 26% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [5] - The performance of Air Industries' stock may be influenced by the overall industry outlook, as research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [5]