HÉROUX-DEVTEK REPORTS SECOND QUARTER RESULTS

Highlights

Sales increased to $173.2 million, up 22.4% from $141.5 million a year ago

Operating income increased to $15.4 million, compared to $9.1 million last year

Adjusted EBITDA1 increased to $28.5 million or 16.5% of sales, compared to $18.2 million, or 12.9% of sales a year ago

Diluted earnings per share and adjusted earnings per share1 increased to $0.29 and $0.38 compared to $0.14 last year

Cash flows related to operating activities stood at $4.3 million compared to a usage of $15.6 million a year ago

During the quarter, Héroux-Devtek entered into a definitive agreement to be acquired by Platinum Equity

LONGUEUIL, QC, Nov. 12, 2024 /CNW/ - Héroux-Devtek Inc. (TSX:HRX) ("Héroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products and the world's third-largest landing gear manufacturer, today reported its financial results for the second quarter ended September 30, 2024. Unless otherwise indicated, all amounts are in Canadian dollars.

"We are proud of our second quarter results as we delivered a strong throughput achieving $173 million in sales and an adjusted EBITDA of 16.5% of sales. Our team remains very busy delivering innovative and high-quality products to our clients and I want to take this opportunity to thank them for their hard work and commitment, which continue to drive our success," said Martin Brassard, President and CEO of Héroux-Devtek.

FINANCIAL HIGHLIGHTS

Three months ended September 30,

Six months ended September 30,

(in thousands, except per share data)

2024

2023

2024

2023

Sales

$        173,159

$        141,499

$        347,156

$        282,196

Operating income

15,449

9,101

34,868

16,597

Adjusted EBITDA1

28,535

18,221

58,093

34,578

Net income

9,958

4,628

22,503

8,598

Adjusted net income1

13,011

4,628

26,531

8,598

Cash flows related to operating activities

4,265

(15,580)

14,124

(27,778)

Free cash flow usage1