Welcome to our dedicated page for Steel Connect news (Ticker: STCN), a resource for investors and traders seeking the latest updates and insights on Steel Connect stock.
Steel Connect Inc (STCN) delivers innovative supply chain solutions through digital integration and industrial expertise. This news hub provides investors and industry professionals with comprehensive updates on operational developments, strategic partnerships, and market positioning within the steel manufacturing ecosystem.
Access timely updates including earnings reports, technology implementations, and supply chain innovations. Our curated collection features official press releases alongside verified industry analysis, enabling informed monitoring of STCN's operational milestones and market impact.
Key coverage areas:
• Strategic Partnerships: Collaborative ventures enhancing industrial connectivity
• Operational Updates: Digital transformation initiatives and process optimizations
• Financial Disclosures: Quarterly earnings and regulatory filings
• Market Expansion: New service offerings and geographic reach developments
Bookmark this page for streamlined access to STCN's evolving role in modernizing industrial supply chains through technology-driven solutions.
Steel Connect (NASDAQ: STCN) reported Q1 fiscal 2025 results with net revenue of $50.49 million, up 22.1% from $41.34 million in Q1 2024. Net income decreased to $2.37 million from $4.44 million year-over-year. The company showed significant improvement in gross profit margin, increasing 630 basis points to 34.1%. Adjusted EBITDA rose to $7.38 million from $3.31 million, with margin expanding to 14.6%. The company maintained strong liquidity with $233.9 million in cash and cash equivalents.
Steel Partners Holdings announced plans for a short-form merger to acquire remaining STCN shares at $11.45 per share in cash.
Steel Connect (NASDAQ: STCN) reported its Q4 and fiscal year 2024 results. Q4 net revenue increased 12.4% to $45.9 million, driven by higher volumes in computing and consumer electronics markets. However, fiscal year 2024 revenue decreased 7.9% to $174.1 million. Q4 net income decreased 19.8% to $6.5 million, while fiscal year net income significantly increased to $88 million, primarily due to a $73.4 million tax benefit. The company maintained strong liquidity with $248.6 million in cash and cash equivalents as of July 31, 2024, and paid off its SPHG Note upon maturity on September 1, 2024.
Steel Connect (NASDAQ: STCN) released its third-quarter financial results for fiscal 2024 ended April 30. The company reported a significant non-cash income tax benefit adjustment of $71.5 million due to the release of a portion of its valuation allowance for deferred tax assets. Net revenue decreased by 5% to $43.85 million, primarily due to lower volumes in computing and consumer electronics markets. However, net income surged to $71.66 million from $3.03 million year-over-year. Adjusted EBITDA also saw a decline of 14.9% to $4.45 million. Despite lower sales and increased capital expenditures, the company maintained liquidity with $269.2 million in cash and equivalents.
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