We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
M-tron Industries (MPTI) Q4 Earnings & Revenues Top Estimates
Read MoreHide Full Article
M-tron Industries, Inc. (MPTI - Free Report) reported lower-than-expected results in fourth-quarter 2023. Both adjusted earnings and revenues missed the Zacks Consensus Estimate.
On a year-over-year basis, earnings declined but revenues increased on strong aerospace and defense product shipments.
Michael Ferrantino, MPTI’s chief executive officer, said, “MtronPTI had a great first year as a public company. We focused on improving our topline results each quarter while maintaining and improving margins wherever possible and maintaining our vigilance on general and administrative costs. We look forward to the continuing success of MtronPTI while helping our motivated employees and valued customers reach their goals in 2024 and beyond.”
Inside the Headline Numbers
M-tron Industries reported adjusted earnings per share of 3 cents, missing the consensus estimate of 48 cents by 93.8%. The reported figure decreased 57.1% from 7 cents a year ago due to one-time expenses for stock options.
M-tron Industries, Inc. Price, Consensus and EPS Surprise
Quarterly revenues of $10.8 million marginally missed the consensus mark of $11.2 million by 3.6%. The reported figure increased 24.2% from the year-ago quarter’s levels.
As of Dec 31, 2023, the total backlog was $47.83 million compared with $46.2 million at 2022-end. The company’s sales funnel continues to be strong due to the new product offering and provides excellent technical and customer service to its customers.
Adjusted EBITDA was $2.4 million, which increased from $1.1 million reported in the year-ago quarter.
Financials
As of Dec 31, 2023, M-tron Industries had cash and cash equivalents of $3.9 million compared with $0.9 million at the end of 2022. Inventories were $8.9 million compared with $7.5 million at 2022-end.
Lennar Corporation (LEN - Free Report) reported first-quarter fiscal 2024 results, wherein its earnings surpassed the Zacks Consensus Estimate, but revenues missed the same. On a year-over-year basis, both the top and bottom lines increased, given the company’s emphasis on maintaining a steady production rate to drive sales momentum. Lennar strategically utilized pricing, incentives, marketing expenditure and dynamic pricing insights to ensure steady sales volume despite fluctuations in interest rates.
Investors’ sentiments might have been hurt by lower-than-expected revenues in the quarter as well as flat gross margin expectations and higher selling, general and administrative guidance for the second quarter of fiscal 2024.
Toll Brothers, Inc. (TOL - Free Report) reported solid results for first-quarter fiscal 2024 (ended Jan 31, 2024), wherein its top and bottom lines surpassed the Zacks Consensus Estimate and increased on a year-over-year basis.
Since mid-January, TOL has experienced a notable surge in demand coinciding with the onset of the spring selling season. Buoyed by a robust job market, improving consumer confidence and sustained low levels of resale inventory, the company maintained an optimistic outlook for strong demand in the new homes market throughout 2024.
KB Home (KBH - Free Report) reported better-than-expected results in first-quarter fiscal 2024 (ended Feb 29, 2024). Both earnings and revenues beat the Zacks Consensus Estimate and rose on a year-over-year basis.
Looking forward to the second quarter and full-year 2024, KBH foresees enhanced conditions in the housing market and ongoing positive trends in the supply chain. Leveraging the advantages of its Built to Order model, which provides buyers with choices, flexibility and affordability, the company is confident in its ability to effectively navigate potential fluctuations in housing market conditions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
M-tron Industries (MPTI) Q4 Earnings & Revenues Top Estimates
M-tron Industries, Inc. (MPTI - Free Report) reported lower-than-expected results in fourth-quarter 2023. Both adjusted earnings and revenues missed the Zacks Consensus Estimate.
On a year-over-year basis, earnings declined but revenues increased on strong aerospace and defense product shipments.
Michael Ferrantino, MPTI’s chief executive officer, said, “MtronPTI had a great first year as a public company. We focused on improving our topline results each quarter while maintaining and improving margins wherever possible and maintaining our vigilance on general and administrative costs. We look forward to the continuing success of MtronPTI while helping our motivated employees and valued customers reach their goals in 2024 and beyond.”
Inside the Headline Numbers
M-tron Industries reported adjusted earnings per share of 3 cents, missing the consensus estimate of 48 cents by 93.8%. The reported figure decreased 57.1% from 7 cents a year ago due to one-time expenses for stock options.
M-tron Industries, Inc. Price, Consensus and EPS Surprise
M-tron Industries, Inc. price-consensus-eps-surprise-chart | M-tron Industries, Inc. Quote
Quarterly revenues of $10.8 million marginally missed the consensus mark of $11.2 million by 3.6%. The reported figure increased 24.2% from the year-ago quarter’s levels.
As of Dec 31, 2023, the total backlog was $47.83 million compared with $46.2 million at 2022-end. The company’s sales funnel continues to be strong due to the new product offering and provides excellent technical and customer service to its customers.
Adjusted EBITDA was $2.4 million, which increased from $1.1 million reported in the year-ago quarter.
Financials
As of Dec 31, 2023, M-tron Industries had cash and cash equivalents of $3.9 million compared with $0.9 million at the end of 2022. Inventories were $8.9 million compared with $7.5 million at 2022-end.
Zacks Rank
M-tron Industries currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Construction Releases
Lennar Corporation (LEN - Free Report) reported first-quarter fiscal 2024 results, wherein its earnings surpassed the Zacks Consensus Estimate, but revenues missed the same. On a year-over-year basis, both the top and bottom lines increased, given the company’s emphasis on maintaining a steady production rate to drive sales momentum. Lennar strategically utilized pricing, incentives, marketing expenditure and dynamic pricing insights to ensure steady sales volume despite fluctuations in interest rates.
Investors’ sentiments might have been hurt by lower-than-expected revenues in the quarter as well as flat gross margin expectations and higher selling, general and administrative guidance for the second quarter of fiscal 2024.
Toll Brothers, Inc. (TOL - Free Report) reported solid results for first-quarter fiscal 2024 (ended Jan 31, 2024), wherein its top and bottom lines surpassed the Zacks Consensus Estimate and increased on a year-over-year basis.
Since mid-January, TOL has experienced a notable surge in demand coinciding with the onset of the spring selling season. Buoyed by a robust job market, improving consumer confidence and sustained low levels of resale inventory, the company maintained an optimistic outlook for strong demand in the new homes market throughout 2024.
KB Home (KBH - Free Report) reported better-than-expected results in first-quarter fiscal 2024 (ended Feb 29, 2024). Both earnings and revenues beat the Zacks Consensus Estimate and rose on a year-over-year basis.
Looking forward to the second quarter and full-year 2024, KBH foresees enhanced conditions in the housing market and ongoing positive trends in the supply chain. Leveraging the advantages of its Built to Order model, which provides buyers with choices, flexibility and affordability, the company is confident in its ability to effectively navigate potential fluctuations in housing market conditions.