Mar. 31 at 9:22 PM
$CVU CPI Aerostructures reports Q4 adjusted EBITDA
$2.3M vs.
$1.8M last year
Reports Q4 revenue
$21.8M vs.
$23.5M last year. "Although our 2024 revenue was lower than our 2023 revenue, we increased our gross profit margin by 150 basis points. Our net income, excluding the tax asset valuation impact, was up 22.2% with EPS up 19.5% from prior year due to operational efficiencies, lower SG&A and interest costs. We generated
$3.6 million in cash from operations in 2024 and reduced our debt by another
$2.7 million reaching an all-time low debt balance since 2011.
Our Debt-to-Adjusted EBITDA Ratio at year-end was 2.2, which marks our eighth consecutive quarter-end below 3.0," said Dorith Hakim, President and CEO. "We ended the year with a strong backlog of
$510 million, which includes multiple new program awards from L3Harris, Raytheon and Embraer. We remain confident in CPI Aero's long-term outlook and look forward to capitalizing on the multiple opportunities ahead as we continue to build on our long-standing relationships with our customers."
