Allied Motion Stock Price, News & Analysis

Allient Inc (Nasdaq: ALNT) has amended its 2024 Credit Facilities to enhance financial flexibility through FY2025. The amendment maintains the leverage ratio covenant at 4.25:1 for TTM periods ending September and December 2024, increases to 4.5:1 for Q1 and Q2 2025, reduces to 4.0:1 by September 2025, and finally reverts to 3.75:1. The company can now include up to $4 million in various costs in EBITDA calculations. Additionally, Allient executed a new interest rate swap agreement effective September 30, 2024, hedging $50 million of debt over three years to protect against SOFR-based rate fluctuations.

Allient Inc. (ALNT) reported Q2 2024 results with revenue of $136.0 million, down 7% year-over-year. Gross margin was 29.9%, and net income was $1.2 million or $0.07 per diluted share. The company generated $17.4 million in cash from operations year-to-date. Allient implemented cost-saving measures expected to yield $5 million in annualized savings, with an additional $5 million anticipated in the second half of 2024. Orders of $137.4 million resulted in a book-to-bill ratio of 1.0x and a backlog of $259.0 million. The company faces challenges due to market conditions, with an expected annualized revenue run rate below $500 million over the next several quarters.

Allient (Nasdaq: ALNT), a global designer and manufacturer of precision Motion, Controls and Power products, has announced a quarterly cash dividend of $0.03 per share. The dividend will be paid on September 5, 2024 to stockholders of record as of August 22, 2024. This decision was approved by Allient's Board of Directors. The company currently has approximately 16.8 million shares outstanding.

Allient specializes in creating solutions for targeted industries and applications, focusing on precision and specialty products. This dividend announcement demonstrates the company's commitment to providing regular returns to its shareholders.

Allient Inc. (Nasdaq: ALNT), a global designer and manufacturer of precision Motion, Controls and Power products, has announced its second quarter 2024 financial results conference call and webcast. The company will release its Q2 2024 results after market close on Wednesday, August 7, 2024. A conference call and webcast to review the results will be held on Thursday, August 8, 2024, at 10:00 a.m. Eastern Time.

Investors can access the call by dialing (201) 389-0920 or via webcast on the company's investor relations website. A telephonic replay will be available until August 15, 2024, by dialing (412) 317-6671 with PIN 13746994. The webcast replay and transcript will also be available on Allient's website.

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.

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.

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.