TAT Technologies Files November 2024 6-K Report

TL;DR

TAT Technologies filed a 6-K for Nov 2024, confirming foreign private issuer status and 20-F filings.

AI Summary

TAT Technologies Ltd. filed a Form 6-K on November 18, 2024, to report information for the month of November 2024. The filing indicates the company is a foreign private issuer and will file annual reports under Form 20-F. The company's principal executive office is located in Netanya, Israel.

Why It Matters

This filing serves as a routine update for investors, confirming the company's status as a foreign private issuer and its reporting obligations.

Risk Assessment

Risk Level: low — This is a routine administrative filing with no new financial or operational information that would typically indicate increased risk.

Key Players & Entities

• TAT Technologies Ltd. (company) — Registrant
• November 2024 (date) — Reporting period
• 20241118 (date) — Filing date
• Form 20-F (document) — Annual report form
• Netanya, Israel (location) — Principal executive office location

FAQ

Key Financial Figures

• $40.5 million — f 2024: Revenues increased by 35.2% to $40.5 million in Q3'24 vs. $29.9 million for Q3'23. Y
• $29.9 million — by 35.2% to $40.5 million in Q3'24 vs. $29.9 million for Q3'23. Year-to-date revenues increa
• $111.1 million — ar-to-date revenues increased by 36% to $111.1 million compared to $82.0 million for the same
• $82.0 million — ed by 36% to $111.1 million compared to $82.0 million for the same period last year. Gross p
• $8.5 million — ar. Gross profit increased by 45.9% to $8.5 million (21% as a percentage of revenues) in Q3
• $5.8 million — ntage of revenues) in Q3'24 compared to $5.8 million (19.4% as a percentage of revenues) for
• $23.5 million — date gross profit increased by 51.8% to $23.5 million (21.2% as a percentage of revenues) vs.
• $15.5 million — (21.2% as a percentage of revenues) vs. $15.5 million (18.9% as a percentage of revenues) for
• $2.9 m — t year. Net lncome increased by 33% to $2.9 million, or $0.26 per diluted share in Q3
• $0.26 — me increased by 33% to $2.9 million, or $0.26 per diluted share in Q3'24, compared wi
• $2.2 m — e in Q3'24, compared with net income of $2.2 million, or $0.24 per diluted share, in Q
• $0.24 — red with net income of $2.2 million, or $0.24 per diluted share, in Q3'23. For the ni
• $7.6 m — 0, 2024, net income increased by 77% to $7.6 million, or $0.69 per diluted share compa
• $0.69 — me increased by 77% to $7.6 million, or $0.69 per diluted share compared with a net i
• $4.3 m — ted share compared with a net income of $4.3 million, or $0.47 per diluted share, in t

Filing Documents

• zk2432354.htm (6-K) — 603KB
• 0001178913-24-003749.txt ( ) — 604KB

From the Filing

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 F O R M 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of November 2024 TAT TECHNOLOGIES LTD. (Name of Registrant) Hamelacha 5, Netanya 4250407, Israel (Address of Principal Executive Office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes No If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ____________ TAT Technologies Ltd. 6-K Items 1. Press Release dated November 18, 2024 re TAT Technologies Ltd. Reports Third Quarter 2024 Results. 2 ITEM 1 Press Release Source: TAT Technologies Limited TAT Technologies Grows Revenue by 35%, Increases Net Income by 33% and Adjusted EBITDA by 70% for the Third Quarter of 2024 Company Delivers 8 th Consecutive Quarter of Expanding Revenues Company will host a webcast to review its financial results and provide a business update Netanya , Israel, November 18, 2024 - TAT Technologies Ltd. (NASDAQ: TATT - News) ("TAT" or the "Company"), a leading provider of products and services to the commercial and military aerospace and ground defense industries, today reported its unaudited results for the three and nine months ended September 30, 2024 (Q3'24). Financial Highlights for Third Quarter and First Nine Months of 2024: Revenues increased by 35.2% to $40.5 million in Q3'24 vs. $29.9 million for Q3'23. Year-to-date revenues increased by 36% to $111.1 million compared to $82.0 million for the same period last year. Gross profit increased by 45.9% to $8.5 million (21% as a percentage of revenues) in Q3'24 compared to $5.8 million (19.4% as a percentage of revenues) for Q3'23. Year-to-date gross profit increased by 51.8% to $23.5 million (21.2% as a percentage of revenues) vs. $15.5 million (18.9% as a percentage of revenues) for the same period last year. Net lncome increased by 33% to $2.9 million, or $0.26 per diluted share in Q3'24, compared with net income of $2.2 million, or $0.24 per diluted share, in Q3'23. For the nine-month period that ended on September 30, 2024, net income increased by 77% to $7.6 million, or $0.69 per diluted share compared with a net income of $4.3 million, or $0.47 per diluted share, in the nine-month period that ended on September 30, 2023. Adjusted EBITDA increased by 70% to $5.1 million in Q3'24 compared with $3.0 million in Q3'23. Adjusted EBITDA for the nine-month period that ended on September 30, 2024, increased by 70% to $13.1 million compared with $7.7 million in the nine-month period that ended on September 30, 2023. Cash flow from operations in Q3'24 was positive $2.8 million compared to negative ($3.7) million in Q3'23. For the nine-month period ended on September 30, 2024, cash flow from operations was negative ($4.9) million compared to positive $0.5 million in the nine-month period that ended on September 30, 2023. During Q3 2024 the Company raised $9.9 million in shares from the capital markets. Mr. Igal Zamir, TAT's CEO and President commented, "TAT delivered record revenue and profitability in the third quarter as we executed on long-term agreements and onboarded new customers. Our increased scale, continued operational efficiency and a 160 basis point expansion of our gross margins enabled an 33% improvement in net income and a 70% improvement in Adjusted EBITDA." "As we look towards next year, we see the demand for our products and services continues to grow, as our orders and LTA backlog increased to $423 million," continued Mr. Zamir. "Supply of parts for APUs and landing gears continues to be challenging. We are preparing ourselves with a higher level of parts inventory in order to be able to better support our customers. We are also very focused on internal processes improvements that will yield with improved profitability and a better turnaround time and on-time delivery for the benefit of our customers. We continue being positive of the outcome into 2025." 3 Investor Call Information TAT Technologies will host a webcast to review its financial results and provide a business update on Tuesday November 19, 2024, at 8:15 a.m. ET. Interested investors can register for the webcast at https://shorturl.at/jHNWV or visit the investor relations section of the Company's website at https://tat-technologies.com/investors/ .

View Full Filing

View this 6-K filing on SEC EDGAR