SIFCO Industries (NYSEAM) Q4 2024 earnings summary

Executive summary

• FY24 net sales rose 20% to $79.6M; net loss from continuing operations narrowed to $8.6M from $10.5M in FY23.

• Q4 sales increased 14% to $21.7M; continuing-operations loss narrowed to $1.9M from $3.2M YoY.

• Commercial space and aerospace demand supported sales growth; year-end customer backlog reached $114.4M.

Financial highlights

• Q4 net loss was $0.4M versus $3.1M in Q4 FY23, reflecting $1.4M income from discontinued operations versus $0.1M.

• FY24 net loss was $5.4M versus $8.7M in FY23, including $3.2M income from discontinued operations versus $1.8M.

• Q4 diluted loss per share was $0.08 versus $0.52; continuing operations were $(0.33) per diluted share and discontinued operations contributed $0.25.

• FY24 diluted loss per share was $0.90 versus $1.47; continuing operations were $(1.44) per diluted share and discontinued operations contributed $0.54.

Outlook and guidance

• Management cited continued demand and increased production to meet customer needs for the upcoming year and beyond.

• Customer backlog was $114.4M at FY24 year-end, supporting the stated outlook for ongoing demand.