Air Industries Stock Price, News & Analysis

Air Industries Group (AIRI) will host a conference call on April 4, 2023, at 9:00 AM Eastern to discuss preliminary, unaudited financial results for the three and twelve months ending December 31, 2022. The call is part of the company’s commitment to keep investors informed about its financial performance as a Tier 1 manufacturer in aerospace and defense. The company is a prime contractor to the U.S. Department of Defense and focuses on precision assemblies. The press release also contains forward-looking statements about future revenues and trends, highlighting risks related to project timelines and regulatory changes.

Air Industries Group (NYSE American: AIRI) announced new contracts totaling $3.0 million for turbine engine components, enhancing its portfolio in aerospace and defense. CEO Lou Melluzzo highlighted a resurgence in activity at their Connecticut operation, citing increased bookings of 168% over the last three months compared to the previous nine months. The company also secured a significant order for a flight-critical component of the CH-53K helicopter, following a $5.2 million long-term agreement for Chaff Pods. These developments reflect a positive trend in business growth and demand for key military components.

Air Industries Group (AIRI) reported its financial results for the three and nine months ended September 30, 2022. Net sales for Q3 2022 were $13.3 million, down 7.6% from $14.4 million in Q3 2021. Gross profit increased by 10% to $2.2 million, with a margin of 16.9%. However, the company faced a net loss of $142,000 in Q3, compared to a $66,000 loss in the same period last year. For the nine-month period, net sales fell 9.6% to $39.3 million, with a net loss of $177,000, down from a profit of $21,000 in 2021.

Air Industries Group (AMEX:AIRI) will release its financial results for the three and nine months ended September 30, 2022, at approximately 8:30 AM (Eastern) on November 14, 2022. The company will also host an investor conference call on the same day at 4:15 PM (Eastern). As a Tier 1 manufacturer for aerospace and defense applications, AIRI is a prime contractor to the U.S. Department of Defense. The press release includes forward-looking statements regarding future revenues, earnings, and market trends, which are subject to various risks and uncertainties.

Air Industries Group (NYSE American: AIRI) has secured a five-year Long-Term Agreement valued at $2.2 million to manufacture a quadrant for the Blackhawk Helicopter's tail-rotor gearbox. This agreement includes an immediate purchase order worth $500,000. Since January, the company has received twelve LTAs related to Blackhawk products totaling over $30 million. Additionally, Air Industries reports an increase in business opportunities, including three orders for nuclear submarine components from new clients.

Air Industries Group (NYSE American: AIRI) announced a reverse stock split at a ratio of 1-for-10, effective at 12:01 a.m. (ET) on October 18, 2022. This action will reduce the number of outstanding shares from 32,324,670 to 3,232,467. The split aims to increase per-share pricing, potentially broadening the investor base, although it does not alter ownership percentages. No notification from NYSE American necessitated this move. The Company will issue new stock certificates, with fractional shares rounded up.

Air Industries Group (NYSE American: AIRI), a manufacturer for aerospace and defense, announced two significant contracts totaling $5.0 million. The Air Industries Machining Corp. has secured a five-year Long-Term Agreement worth $2.2 million for Blackhawk helicopter assemblies, effective until December 31, 2027. Additionally, Sterling Engineering has received a $2.8 million order for engine components used in the F404 jet engine, which powers various military aircraft.

Air Industries Group (AIRI) announced its participation in the Sidoti & Company LLC Micro-Cap Virtual Investor Conference on August 17, from 1:45 PM to 2:15 PM ET. During the event, President and CEO Lou Melluzzo and CFO Michael Recca will present essential company insights. The event can be accessed via webcast, with further details available on the company's website. Air Industries Group specializes in manufacturing precision assemblies and components for aerospace and defense, serving as a prime contractor for the U.S. Department of Defense.

Air Industries Group (AIRI) reported financial results for Q2 and the first half of 2022, with consolidated net sales of $14.0 million for Q2, down 9% from $15.5 million in Q2 2021. However, net sales increased by 16% compared to Q1 2022. Gross profit decreased slightly to $2.4 million, but gross profit margin improved to 17.3%. The company posted a net loss of $7,000 for Q2, contrasting with net income of $239,000 in the same quarter last year. For the first six months, net sales were $26.1 million, an 11% drop from $29.2 million in 2021.