Welcome to our dedicated page for P&F Industries news (Ticker: PFIN), a resource for investors and traders seeking the latest updates and insights on P&F Industries stock.
P&F Industries, Inc. (NASDAQ: PFIN) is a recognized leader in pneumatic tool manufacturing, serving automotive, aerospace, and industrial sectors through brands like Florida Pneumatic and AIRCAT. This page aggregates official press releases and verified news about corporate milestones, including its pending acquisition by ShoreView Industries and Q2 2023 financial improvements.
Investors and industry professionals will find timely updates on earnings reports, strategic initiatives, and market positioning. The curated content addresses PFIN's response to supply chain challenges, gross margin expansion, and innovations like aerospace-specific cordless tools.
Key coverage areas span financial disclosures, product developments, and corporate governance updates. All materials adhere to factual reporting standards, providing actionable insights without speculative commentary.
Bookmark this page for streamlined access to PFIN's evolving story. Check back regularly for updates directly from company filings and authorized news sources.
P&F Industries reported a 4.5% increase in net revenue for Q1 2021, totaling $13,945,000, compared to $13,350,000 in Q1 2020. The loss before income taxes decreased from $1,263,000 to $377,000. Florida Pneumatic saw an 8.7% revenue growth, while Hy-Tech's revenue declined by 8.3%. Overall, selling, general, and administrative expenses dropped by approximately $700,000. Due to ongoing pandemic effects, the Board suspended cash dividends but is optimistic about future growth as conditions improve.
P&F Industries plans to release its financial results for the three months ending March 31, 2021, before market opening on May 13, 2021. A conference call is scheduled for the same day at 11:00 a.m. Eastern time, with a dial-in number of 800-353-6461. A replay will be available on the company's website approximately 24 hours later. P&F Industries is a leading manufacturer and importer of air-powered tools, serving the aerospace, industrial, automotive, and retail markets, and offers products under its trademarks and private labels.
P&F Industries reported a 2020 net revenue of $49.1 million, down 16.3% from $58.7 million in 2019, reflecting the adverse effects of the COVID-19 pandemic. The company experienced a net loss of $4.95 million compared to a net income of $4.91 million in 2019. A key factor was a significant reduction in aerospace revenue due to Boeing's production cuts. However, early 2021 showed signs of recovery, with increases in customer orders and the restart of Boeing's 737 MAX production.
P&F Industries, Inc. (NASDAQ GM: PFIN) will release its 2020 financial results on March 25, 2021, before the market opens. A conference call is scheduled for 11:00 a.m. Eastern time the same day, with dial-in at 866-337-5532. A replay will be available on the company's website approximately 24 hours after the call. P&F Industries is a leading manufacturer and importer of air-powered tools and accessories, servicing the aerospace, industrial, automotive, and retail sectors.
P&F Industries reported third quarter 2020 net revenues of $12.4 million, down 16% year-over-year due to the COVID-19 pandemic, aerospace sector weakness, and a depressed oil and gas market. Net losses before income taxes were $1.19 million for the quarter, compared to a net income of $128,000 in Q3 2019. The aerospace sector suffered a 57.4% revenue decline, while retail and automotive segments showed signs of recovery. SG&A expenses decreased by 10.3% and the company remains optimistic about future growth despite ongoing challenges.
P&F Industries, Inc. (NASDAQ GM: PFIN) will announce its financial results for the three and nine-month periods ending September 30, 2020, on November 12, 2020, before the market opens. A conference call is scheduled for 11:00 a.m. Eastern time on the same day, with a dial-in number of 800-353-6461. A replay of the call will be available on the company's website approximately twenty-four hours later. P&F Industries specializes in manufacturing and importing air-powered tools and accessories for various markets.
P&F Industries reported a net revenue decline to $11.52 million and $24.87 million for Q2 and H1 2020, down 22.2% and 14.6% year-over-year, significantly impacted by the COVID-19 pandemic, weakened oil and gas markets, and Boeing's production halt. The company faced net losses before taxes of $3.19 million and $4.45 million for the respective periods. Despite cost reductions in SG&A expenses, P&F continues to see adverse effects on its gross margin. However, there are signs of recovery in Retail and Automotive orders as operations adapt to the ongoing challenges.
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