Welcome to our dedicated page for Air Industries news (Ticker: AIRI), a resource for investors and traders seeking the latest updates and insights on Air Industries stock.
Air Industries Group (NYSE American: AIRI) generates a steady flow of news as a manufacturer of precision components and assemblies for large aerospace and defense prime contractors. Company press releases and SEC Form 8-K filings highlight its role in supplying landing gears, flight controls, engine mounts, and components for aircraft jet engines, ground turbines, and other complex machines used in mission-critical operations.
News about Air Industries often focuses on financial results and contract activity. The company regularly announces quarterly and annual financial performance, including net sales, gross profit, operating income or loss, net income or loss, and Adjusted EBITDA as a non-GAAP measure. These updates are typically accompanied by management commentary on margins, cost trends, backlog, and book-to-bill ratios, and are followed by scheduled investor conference calls.
Another key news theme is contract awards and aftermarket activity. Air Industries has reported contracts for landing and arresting gear components for the US Navy E-2D Advanced Hawkeye, landing gear steering collar components for the US Air Force B-52 aircraft, and orders for fixed wing landing gear components and rotorcraft components for combat helicopters. The company often notes whether these contracts support production of new aircraft, aftermarket Maintenance, Repair, and Overhaul (MRO), or both.
Visitors to the AIRI news page can review these announcements to understand how new bookings, backlog, and contract wins relate to the company’s financial performance and operational focus. The news flow also covers topics such as amendments to loan agreements, changes to authorized share capital, and the timing of earnings releases and conference calls, providing a consolidated view of the company’s recent developments.
Air Industries Group (AIRI) has secured a Long-Term Agreement (LTA) worth over $5.2 million for its Sterling Engineering subsidiary to supply Chaff Pods for the CH-53K helicopter. This contract enhances their backlog for the CH-53 platform by over 70% to approximately $12.5 million. The CH-53K, a heavy-lift aircraft for the US Marine Corps, is expected to enter Full-Rate Production, increasing from four units in 2022 to 15 by 2026. The company aims to transition its business model towards more complete product offerings under long-term agreements.
Air Industries Group (AIRI) reported Q2 2021 results showing significant growth. Consolidated net sales rose 82.4% to $15.5 million, while gross profit surged 333.3% to $2.6 million. The company received a $7.4 million order for thrust struts, contributing to a fully funded backlog of $91.5 million. Six-month sales increased 33.3% to $29.2 million, and adjusted EBITDA grew nearly 225% to $2.6 million. CEO Lou Melluzzo highlighted strong operational improvements and plans for continued investments in capabilities.
Air Industries Group (AIRI) is set to release its financial results for Q2 2021 on August 4, 2021, at 8:30 AM ET. The company will also host an investor conference call on the same day at 4:30 PM ET. Air Industries specializes in manufacturing complex machined products for the aerospace and defense sectors, including landing gear and jet turbine components. The press release includes forward-looking statements regarding marketplace trends and potential future revenues, which are subject to various risks and uncertainties that may affect actual results.
Air Industries Group (AIRI) announced a follow-on Long-Term Agreement (LTA) to produce landing gear components for the F-35 Joint Strike Fighter, estimating purchases between $12 million and $18 million from 2022 to 2024. This agreement underscores Air Industries' ongoing involvement in a critical defense program, supporting production as it approaches full-rate. The company has provided these components since F-35 production began, strengthening its position within the aerospace and defense sector.
Air Industries Group (AIRI) has secured a $7.4 Million order for Thrust Struts, a key component of the Geared Turbofan Jet Engine. This order stems from a Long-Term Agreement and highlights the company's significant role in military aviation and its largest commercial aviation product. CEO Lou Melluzzo noted a rebound in commercial aviation demand, previously impacted by the pandemic. The Thrust Strut is utilized in popular aircraft, including the Airbus A-220.
Air Industries Group (AIRI) will host an investor conference call on May 12, 2021, at 4:30 PM Eastern Time. Investors can join the call using the toll-free number 888-207-0293 and the passcode 488912. The company specializes in manufacturing complex machined products for the aerospace and defense sectors, producing components such as landing gear and jet turbine parts for major contractors. The press release also contains forward-looking statements regarding potential trends, revenues, and risks impacting future performance.
Air Industries Group (AIRI) announced its financial results for the first quarter ending March 31, 2021. Consolidated net sales increased by 2.2% to $13.7 million, while gross profit declined by 18.1% to $1.8 million, resulting in a gross profit margin drop to 13.1%. Operating expenses decreased by 21.7% to $1.8 million, enabling a shift to operating income of $27,000 from a loss of $81,000 in 2020. Adjusted EBITDA stood at $1.234 million, with a strong backlog of $84.7 million. The CEO highlighted a $22 million increase in new business quotes, signaling positive growth potential.
Air Industries Group (AIRI) will release its financial results for the three months ending March 31, 2021, at 8:30 AM on May 11, 2021. An investor conference call is scheduled for the same day at 5:00 PM Eastern, with the toll-free number being 800-207-0293 and a passcode of 834 115. The company, an integrated manufacturer of precision aerospace and defense components, highlights its ongoing projects and future revenues, while acknowledging risks related to project timing and regulatory changes, adhering to the Private Securities Litigation Reform Act.
Air Industries Group (NYSE AMEX: AIRI) reported results for Q4 and FY 2020, highlighting a 9.0% increase in Q4 net sales to $14.5 million and a 23.5% rise in gross profit to $2.1 million. Annual net sales fell to $50.1 million from $54.6 million in 2019. Operating income improved to $200,000, compared to an operating loss of $1.0 million the previous year. The company reported a net income of $1.3 million for the year, aided by $2.4 million in PPP loan forgiveness. CEO Lou Melluzzo expressed optimism for 2021, citing a strong backlog and expected sales growth.
Air Industries Group (AIRI) has reached a Settlement Agreement to resolve a working capital adjustment dispute with CPI Aerostructures, Inc. The resolution comes after CPI Aero filed a motion seeking approximately $4.1 million in a New York Supreme Court. Instead, both parties agreed to a settlement involving the payment of $1,381,000, which will be released from escrow to CPI Aero. This settlement marks a significant step towards resolution, allowing Air Industries to focus on its core operations in precision equipment manufacturing for aerospace and defense contractors.
FAQ
What is the current stock price of Air Industries (AIRI)?
What is the market cap of Air Industries (AIRI)?
