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Israel's MTI Wireless Edge nine-month revenue rises on strong demand across segments

By Reuters News


Overview

  • Israel technology group's nine-month revenue rose 9% yr/yr

  • Profit before tax for nine months increased 10% yr/yr

  • Company acquired Interspec, expanding direct presence in US market


Outlook

  • Company expects ABS antenna sales to remain strong through year-end and into 2027

  • Mottech division expected to deliver a strong result for 2026

  • Company expects order backlog at MTI Summit to unwind in coming months as supply issues resolve


Result Drivers

  • MOTTECH DEMAND - Strong demand for water management and irrigation solutions, with revenue up 22% and operating profit up 60% yr/yr, especially in Israel, Italy, South Africa and the Arabian Gulf

  • DEFENCE CONTRACTS - Increased sales volumes from defence contracts in the Antenna division contributed to improved performance in Q3

  • ORDER BACKLOG - Supply delays at a European supplier created a substantial order backlog at MTI Summit, which is expected to unwind as supplier issues are resolved


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

9M Revenue

$41.25 mln

9M Profit From Operations

$4.55 mln

9M Gross Profit

$13.25 mln

9M Pretax Profit

$4.35 mln


Analyst Coverage

  • Wall Street's median 12-month price target for MTI Wireless Edge Ltd is GBp97.50, about 58.5% above its November 6 closing price of GBp61.50

  • The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 three months ago


Reuters Recommended Reads

  • Nov 6 - Senstar Technologies Q3 profit rises on increased LiDAR demand

  • Nov 6 - Ubiquiti Q1 revenue, profit jump; warns of margin pressure


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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