STOCK TITAN

Allient Inc. - ALNT STOCK NEWS

Welcome to our dedicated page for Allient news (Ticker: ALNT), a resource for investors and traders seeking the latest updates and insights on Allient stock.

Allient Inc. (Nasdaq: ALNT) is a leading global engineering and manufacturing firm, dedicated to developing cutting-edge solutions in the realms of Motion, Controls, and Power. The company caters to a diverse range of markets, including medical, life sciences, aerospace and defense, industrial automation, robotics, semiconductor, transportation, agriculture, construction, and facility infrastructure. Headquartered in Buffalo, New York, Allient employs over 2,500 team members worldwide, providing essential products and systems that drive industry innovation.

Formerly known as Allied Motion Technologies Inc., Allient has positioned itself as a trusted supplier of precision and specialty motion control components and systems. Their product portfolio includes nano precision positioning systems, servo control systems, motion controllers, digital servo amplifiers and drives, brushless servo, torque, and coreless motors, brush motors, integrated motor drives, gear motors, gearing, incremental and absolute optical encoders, and both active (electronic) and passive (magnetic) filters for power quality and harmonic issues.

Allient's commitment to internal growth and strategic acquisitions has been a significant driver of its success. The company's recent acquisition of SNC Manufacturing Co., Inc. enhances its capabilities in the clean power industry and broadens its reach into defense, industrial automation, and renewable energy markets. This acquisition aligns with Allient's strategy to expand its technological footprint and market presence.

Financially, Allient has demonstrated robust performance. In the third quarter of 2023, the company reported a revenue increase of 8% to $145.3 million, with an organic growth of 7%. Gross margin reached a record 32.7%, and net income rose by 1% to $6.7 million, or $0.41 per diluted share. Adjusted net income was $0.61 per share, up 3%. Orders for the quarter totaled $154.9 million, including a significant $31 million order in the defense market.

The company's strategic initiatives, such as the “Simplify to Accelerate NOW” strategy, focus on streamlining operations, reducing costs, and enhancing customer interactions, aim to drive sustained earnings growth and operational excellence. Allient's proactive approach to market challenges and opportunities ensures its continued relevance and competitiveness in a dynamic global market.

Allient Inc. continues to innovate and expand its capabilities to meet the evolving needs of its customers, driving growth and creating value for its stakeholders.

Rhea-AI Summary

Allient (Nasdaq: ALNT) has appointed James A. Michaud as Chief Financial Officer, effective June 3, 2024. Michaud succeeds Michael R. Leach, who is retiring. With over 25 years of experience, Michaud has held senior roles in both public and private multinational companies, most recently at Elior North America. CEO Dick Warzala highlighted Michaud's expertise in business operations, risk management, and financial planning, noting his fit for Allient's goal of generating $1 billion in revenue. Michaud holds a B.S. in Accountancy from Bentley University and is a Certified Public Accountant.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.46%
Tags
none
-
Rhea-AI Summary

Allient Inc. (ALNT) reported a first-quarter revenue of $146.7 million, showing a 1% increase over the prior year. The company experienced an 80 basis points expansion in gross margin and a 6% increase in operating income to $12.1 million. Net income per diluted share rose by 8% to $0.42. Adjusted net income per share reached $0.58, indicating a 5% growth. Allient generated $9.2 million in cash from operations, more than double the previous year's first quarter. The company's strategic actions for 2024 include footprint rationalization, simplification of customer interactions, and product development timeline reduction.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.53%
Tags
-
News
Rhea-AI Summary

Allient Inc. (Nasdaq: ALNT) declared a quarterly cash dividend of $0.03 per share. The dividend payment is scheduled for June 6, 2024, to stockholders of record as of May 23, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.53%
Tags
dividends
Rhea-AI Summary
Allient Inc. (ALNT) announces the release of its first quarter 2024 financial results on May 8, 2024, followed by a conference call and webcast on May 9, 2024, to discuss the financial and operating results. Investors can participate in the question-and-answer session to gain insights into the Company's performance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.11%
Tags
-
Rhea-AI Summary
Allient Inc. (ALNT) reports strong financial results for Q4 2023 and full year 2023, showcasing revenue growth, margin expansion, and debt reduction. The company's 'Simplify to Accelerate' strategy focuses on footprint rationalization, margin expansion, and cash generation to drive growth. Key highlights include a 15% revenue increase to $578.6 million, record gross margin of 31.7%, net income per diluted share up 36% to $1.48, and $45.0 million cash generated in 2023. The acquisition of Sierramotion Inc. and SNC Manufacturing aims to strengthen the company's position in key markets. Allient's strategic initiatives for 2024 include realigning the organization, lean manufacturing, and working capital reduction.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
20.6%
Tags
none
-
News
Rhea-AI Summary
Allient Inc. (ALNT) declares a quarterly cash dividend of $0.03 per share, payable on April 3, 2024, to stockholders of record as of March 20, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
20.6%
Tags
dividends
Rhea-AI Summary
Allient Inc. (ALNT) to release Q4 and full year 2023 results on March 5, 2024. Conference call scheduled for March 6, 2024, to discuss financial and operating results.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.1%
Tags
-
Rhea-AI Summary
Allient Inc. (ALNT) acquires SNC Manufacturing Co., Inc., a premier designer and manufacturer of electrical transformers, expanding capabilities and capacity in the Allied Power Technology Pillar. SNC's offerings are complementary to Allient's current power quality capabilities, providing incremental, low-cost manufacturing capacity. With approximately $40 million in revenue for the trailing twelve months, SNC serves blue-chip customers in defense, industrial automation, alternative power generation, and energy sectors.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1%
Tags
-
Rhea-AI Summary
Allient Inc. (ALNT) Announces Inaugural Sustainability Report for Fiscal Year 2022
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.21%
Tags
none
Rhea-AI Summary
Allient Inc. (ALNT) announces the retirement of Senior Vice President and CFO, Michael R. Leach, effective April 2024. Leach played a key role in the financial structure supporting the Company's growth, including eleven acquisitions in the last eight years. The Chairman and CEO, Dick Warzala, expressed gratitude for Leach's contributions and highlighted the company's solid position for future growth. Leach also expressed his appreciation for the opportunity to work with the company's exceptional team and looks forward to a smooth transition for his successor.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.24%
Tags
none

FAQ

What does Allient Inc. specialize in?

Allient Inc. specializes in precision and specialty motion control components and systems for various industries, including medical, aerospace and defense, industrial automation, robotics, and more.

What was Allient Inc.'s former name?

The company was formerly known as Allied Motion Technologies Inc.

What markets does Allient Inc. serve?

Allient Inc. serves the medical, life sciences, aerospace and defense, industrial automation, robotics, semiconductor, transportation, agriculture, construction, and facility infrastructure markets.

Where is Allient Inc. headquartered?

Allient Inc. is headquartered in Buffalo, New York.

What recent acquisition did Allient Inc. complete?

Allient Inc. recently acquired SNC Manufacturing Co., Inc., enhancing its capabilities in the clean power industry and broadening its market reach.

What was the company's revenue for the third quarter of 2023?

Allient Inc. reported a revenue increase of 8% to $145.3 million for the third quarter of 2023.

What is Allient Inc.'s strategy for growth?

Allient Inc.'s “Simplify to Accelerate NOW” strategy focuses on streamlining operations, reducing costs, and enhancing customer interactions to drive sustained earnings growth and operational excellence.

How many team members does Allient Inc. employ?

Allient Inc. employs over 2,500 team members worldwide.

What are some products offered by Allient Inc.?

Allient Inc. offers products including nano precision positioning systems, servo control systems, motion controllers, digital servo amplifiers and drives, brushless servo motors, and power quality filters.

How has Allient Inc. performed financially recently?

Allient Inc. has shown strong financial performance, with significant revenue growth, improved gross margins, and increased net income in recent quarters.

Allient Inc.

Nasdaq:ALNT

ALNT Rankings

ALNT Stock Data

459.49M
16.78M
15.69%
66.83%
1%
Optical Instrument and Lens Manufacturing
Manufacturing
Link
United States of America
AMHERST