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