Air Industries reports FY2024 preliminary results: sales +7% to $55.1M, backlog record >$250M

AIR INDUSTRIES GROUP

2025-Q1 EPS reported -$0.27 vs consensus -$0.04 ▼ miss (-561.8%)

Net sales $55.1M (+7% YoY), gross margin 16.2% (+180 bps), operating income $459K vs loss.
Net loss reduced 35.9% to $1.4M; adjusted EBITDA $3.6M (+35.3%).
Record total backlog exceeds $250M; bookings up 15% YoY, book-to-bill 1.30x.
Q4 sales $14.9M (+11.9%) but operating loss $111K due to higher non-cash stock comp.
Company will use 15-day extension to file 10-K; CEO expects FY2025 results to exceed FY2024.

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