M-tron Industries (MPTI) Q2 Earnings & Revenues Beat, Margins Up

Core Insights - M-tron Industries, Inc. (MPTI) reported strong second-quarter results for 2024, with both adjusted earnings and revenues exceeding expectations and showing year-over-year growth [1][2]. Financial Performance - Adjusted earnings per share (EPS) reached 63 cents, surpassing the consensus estimate of 50 cents by 26% and increasing 34% from 47 cents in the same quarter last year [2]. - Quarterly revenues totaled $11.81 million, exceeding the consensus mark of $11.2 million by 5.4% and reflecting a 16.4% increase from $10.1 million in the prior year [3]. - Gross margin improved to 46.6%, up from 41.6% a year ago, driven by higher revenues, enhanced production efficiencies, and a better product mix [3]. - Adjusted EBITDA was reported at $2.52 million, a 30.7% increase from $1.93 million in the year-ago quarter, with an adjusted EBITDA margin of 21.4%, up from 19% [4]. Financial Position - As of June 30, 2024, M-tron Industries had cash and cash equivalents of $6.5 million, an increase from $3.9 million at the end of 2023, while inventories rose to $9.34 million from $8.88 million [5]. Future Outlook - The company has raised its 2024 revenue projection to $46-$48 million from the previous guidance of $43-$45 million, maintaining an expected EBITDA range of 19-21% [6].