CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.96% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Elmet Group Q3 revenue jumps 56% on aerospace demand

By Reuters News


Overview

  • US critical materials supplier's fiscal Q3 revenue rose 56% on aerospace and defense demand

  • Adjusted EBITDA for fiscal Q3 more than doubled as gross margin expanded to 31.3%

  • Company backlog hit record $347 mln; announced $450 mln DoW investment for tungsten supply


Outlook

  • Company says record backlog of $347 mln provides increased visibility into future performance

  • Elmet sees continued strong demand in Aerospace, Defense & Government markets

  • Company expects to benefit from significant industry realignment and expanded domestic tungsten capabilities


Result Drivers

  • AEROSPACE AND DEFENSE DEMAND - Co said revenue growth was driven by continued demand acceleration in Aerospace, Defense & Government markets

  • RAW MATERIAL PRICING - Co said ongoing positive impact from increased raw material pricing contributed to revenue growth

  • BACKLOG GROWTH - Record firm order backlog at quarter end gave co greater visibility into future performance and confidence in demand sustainability


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$79.56 mln

Q3 Net Income

$8.29 mln

Q3 Gross Profit

$24.87 mln

Q3 Operating Expenses

$12.90 mln

Q3 Operating Income

$11.98 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the industrial machinery & equipment peer group is "buy"

  • Wall Street's median 12-month price target for Elmet Group Co is $27.00, about 37.6% above its November 6 closing price of $19.62


Reuters Recommended Reads

  • Nov 9 - Sojitz signs agreement to acquire 5% of Vietnam tungsten supplier Masan High-Tech Materials

  • Nov 9 - Barrick Mining Q3 revenue rises 22% on higher gold prices

  • Nov 9 - Air Industries returns to profit in Q3 on margin improvement


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.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.