TAYLOR DEVICES ANNOUNCES FISCAL YEAR 2025 SECOND QUARTER AND FIRST HALF RESULTS

Rhea-AI Summary

Taylor Devices (NASDAQ: TAYD) reported its FY2025 second quarter and first half results. Q2 sales decreased to $8.55M from $10.34M in the previous year, while first-half sales slightly declined to $20.17M from $20.26M. Net earnings for Q2 dropped to $1.06M from $1.98M, and first-half earnings decreased to $3.72M from $3.83M.

The company's H1 FY25 performance represents the second-highest first-half sales in its history. The firm order backlog increased to $34.5M from $33.1M at the start of the fiscal year. First-half earnings margin was 18.5%, compared to 18.9% in the previous year. The company continues to focus on growth opportunities in Aerospace/Defense, Structural, and Industrial markets.

Positive

• Firm order backlog increased to $34.5M from $33.1M
• Maintained strong profit margin at 18.5% in first half
• Second-highest first-half sales ($20.17M) in company history

Negative

• Q2 sales decreased 17.3% to $8.55M from $10.34M YoY
• Q2 net earnings dropped 46.7% to $1.06M from $1.98M YoY
• Q2 EPS declined to $0.34 from $0.56 YoY

NORTH TONAWANDA, N.Y., Jan. 3, 2025 /PRNewswire/ -- Taylor Devices, Inc. (NASDAQ SmallCap: "TAYD") announced today that it had 2^nd quarter sales of $8,548,881, down from last year's 2^nd quarter sales of $10,339,875 while sales for the 1^st half of the fiscal year were $20,166,737, down slightly from last year's 1^st half sales of $20,263,503.

Net earnings for the 2^nd quarter were $1,056,160, down from last year's 2^nd quarter net earnings of $1,981,348 with net earnings for the 1^st half finishing at $3,722,815, down slightly from last year's 1^st half net earnings of $3,829,211.

"While our FY25 2^nd quarter sales finished down year on year, our 1^st half sales finished just shy of last year's level," stated Tim Sopko, CEO. He continued, "The $20.2M of sales achieved by our Team in this H1 is the second highest H1 sales total in our Company's history and only slightly less than our record high H1 sales total of $20.3M which was set last fiscal year." He further commented, "Earnings for the 2^nd quarter are down from last year's level, due predominantly to the lower sales volume, while the 1^st half earnings, 18.5% as a percentage of sales, are more in line with last year's level, 18.9%." He continued, "Encouragingly, our firm order backlog has increased to $34.5M from the $33.1M we entered this year with despite the high H1 sales outflow." He concluded, "As we enter the 2^nd half of our FY25, we will continue to aggressively target opportunities where our custom engineered products are critically needed and valued by our customers in all three of our chosen markets; Aerospace/Defense, Structural and Industrial, which we expect will continue to support our profitable growth going forward."

Taylor Devices, Inc. is a 69-year-old company engaged in the design, development, manufacture and marketing of shock absorption, rate control and energy storage devices for use in various types of vehicles, machinery, equipment and structures. The company continues to target growth in the domestic Aerospace and Defense market as well as global Structural Construction and Industrial markets.

2nd Quarter (3 months ended 11/30/24 & 11/30/23)	F/Y 25	F/Y 24
Sales	$     8,548,881	$   10,339,875
Net Earnings	$     1,056,160	$     1,981,348
Earnings per Share	$               0.34	$               0.56
Shares Outstanding	3,127,793	3,521,428

 

1st Half (6 months ended 11/30/24 & 11/30/23)	F/Y 25	F/Y 24
Sales	$   20,166,737	$   20,263,503
Net Earnings	$     3,722,815	$     3,829,211
Earnings per Share	$               1.19	$               1.09
Shares Outstanding	3,124,720	3,521,099

 

Taylor's website can be visited at: www.taylordevices.com; with company newsletters and other pertinent information at www.taylordevices.com/investors.

Taylor Devices, Inc.

Contact:	Artie Regan
	Regan & Associates, Inc.
	(212) 587-3005 (phone)
	(212) 587-3006 (fax)
	main@reganproxy.com

 

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SOURCE Taylor Devices, Inc.

FAQ

What were Taylor Devices (TAYD) Q2 FY2025 earnings per share?

Taylor Devices reported earnings per share of $0.34 for Q2 FY2025, down from $0.56 in Q2 FY2024.

How much is Taylor Devices (TAYD) current order backlog as of Q2 FY2025?

Taylor Devices' firm order backlog increased to $34.5 million from $33.1 million at the start of fiscal year 2025.

What was TAYD's profit margin in the first half of FY2025?

Taylor Devices achieved a profit margin of 18.5% in the first half of FY2025, slightly down from 18.9% in the same period last year.

How did Taylor Devices (TAYD) Q2 FY2025 sales compare to Q2 FY2024?

Taylor Devices' Q2 FY2025 sales decreased to $8.55 million from $10.34 million in Q2 FY2024, representing a 17.3% decline.

What markets does Taylor Devices (TAYD) currently target for growth?

Taylor Devices targets growth in three main markets: Aerospace/Defense, Structural Construction, and Industrial markets.