SIFCO Industries Inc. Files Q3 2024 10-Q

TL;DR

SIFCO Q3 10-Q filed. Aerospace parts maker updates financials.

AI Summary

SIFCO Industries Inc. filed its 10-Q for the period ending June 30, 2024. The company, based in Cleveland, OH, operates in the aircraft engines & engine parts sector. Key financial details and operational updates for the third quarter of fiscal year 2024 are presented in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of SIFCO Industries Inc., crucial for understanding the company's trajectory in the aerospace sector.

Risk Assessment

Risk Level: medium — As a publicly traded company in the manufacturing sector, SIFCO Industries Inc. is subject to market fluctuations, supply chain risks, and industry-specific challenges.

Key Numbers

• 20240630 — Report End Date (Fiscal quarter end date for the 10-Q filing.)
• 20240812 — Filing Date (Date the 10-Q was officially submitted to the SEC.)
• 0930 — Fiscal Year End (Indicates the end of SIFCO's fiscal year.)

Key Players & Entities

• SIFCO INDUSTRIES INC (company) — Filer
• CLEVELAND (location) — Business Address City
• OH (location) — Business Address State
• 2168818600 (phone_number) — Business Phone
• AIRCRAFT ENGINES & ENGINE PARTS (industry) — Standard Industrial Classification

FAQ

Key Financial Figures

• $1 — e Registrant's Common Shares, par value $1.00, outstanding at June 30, 2024 was 6,

Filing Documents

• sif-20240630.htm (10-Q) — 991KB
• exhibit3112024q3.htm (EX-31.1) — 11KB
• exhibit3122024q3.htm (EX-31.2) — 11KB
• exhibit3212024q3.htm (EX-32.1) — 6KB
• exhibit3222024q3.htm (EX-32.2) — 6KB
• 0000090168-24-000034.txt ( ) — 5900KB
• sif-20240630.xsd (EX-101.SCH) — 43KB
• sif-20240630_cal.xml (EX-101.CAL) — 80KB
• sif-20240630_def.xml (EX-101.DEF) — 170KB
• sif-20240630_lab.xml (EX-101.LAB) — 514KB
• sif-20240630_pre.xml (EX-101.PRE) — 350KB
• sif-20240630_htm.xml (XML) — 825KB

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements SIFCO Industries, Inc. and Subsidiaries Consolidated Condensed Statements of Operations (Unaudited, Amounts in thousands, except per share data) Three Months Ended June 30, Nine Months Ended June 30, 2024 2023 2024 2023 Net sales $ 29,259 $ 21,853 $ 76,854 $ 62,394 Cost of goods sold 24,725 18,375 68,857 55,935 Gross profit 4,534 3,478 7,997 6,459 Selling, general and administrative expenses 3,150 3,388 9,939 10,517 Amortization of intangible assets 40 63 121 187 (Gain) loss on disposal of operating assets — ( 3 ) 3 — Operating profit (loss) 1,344 30 ( 2,066 ) ( 4,245 ) Interest expense, net 1,078 305 2,471 919 Foreign currency exchange (gain) loss, net ( 1 ) 1 6 11 Other expense, net 139 323 244 287 Income (loss) before income tax expense 128 ( 599 ) ( 4,787 ) ( 5,462 ) Income tax expense 56 35 153 128 Net income (loss) $ 72 $ ( 634 ) $ ( 4,940 ) $ ( 5,590 ) Net income (loss) per share Basic $ 0.01 $ ( 0.11 ) $ ( 0.82 ) $ ( 0.94 ) Diluted $ 0.01 $ ( 0.11 ) $ ( 0.82 ) $ ( 0.94 ) Weighted-average number of common shares (basic) 6,009 5,940 5,991 5,925 Weighted-average number of common shares (diluted) 6,105 5,940 5,991 5,925 See notes to unaudited consolidated condensed financial statements. 2 SIFCO Industries, Inc. and Subsidiaries Consolidated Condensed Statements of Comprehensive Income (Loss) (Unaudited, Amounts in thousands) Three Months Ended June 30, Nine Months Ended June 30, 2024 2023 2024 2023 Net income (loss) $ 72 $ ( 634 ) $ ( 4,940 ) $ ( 5,590 ) Other comprehensive income (loss): Foreign currency translation (loss) gain, net of tax ( 73 ) 20 52 436 Retirement plan liability adjustment, net of tax 104 153 190 305 Other ( 5 ) — ( 5 ) 1 Comprehensive income (loss) $ 98 $ ( 461 ) $ ( 4,703 ) $ ( 4,848 ) See notes to unaudited consolidated condensed financial statements. 3 SIFCO Industries, Inc. and Subsidiaries Consolidated Condensed Balance Sheets (Amounts in thousands, exc

View Full Filing

View this 10-Q filing on SEC EDGAR