M-tron Industries, Inc. (MPTI Quick QuoteMPTI - Free Report) reported first quarter of 2025 results, wherein both adjusted earnings and revenues missed the Zacks Consensus Estimate.

Following the results, the company’s shares declined 7.8% in yesterday’s after-hours trading session.

Nonetheless, both metrics increased on a year-over-year basis. This uptick was driven by stable demand across the existing portfolio and new product launches. The company also saw a notable rise in backlog during the period. Going forward, MPTI aims to enhance its product line to support long-term growth and maintain market position.

Inside MPTI’s Q1 Numbers

M-tron Industries reported adjusted earnings per share (EPS) of 56 cents, which missed the consensus estimate of 66 cents by 15.2%. However, the figure increased 5.7% from 53 cents per share reported in the year-ago quarter.

Quarterly revenues of $12.7 million missed the consensus mark of $13.2 million by 2.1%. However, the reported figure increased 13.8% from the year-ago quarter’s $11.2 million. This upside was backed by continued strong defense program product shipments.

As of March 31, 2025, the total backlog was $55.5 million compared with $47.2 million at 2024-end and $46.1 million a year ago. This growth was driven by several large orders received and the continued broad demand for its products.

MPTI’s Operating Highlights

Gross margin was 42.5%, down 20 basis points (bps) from 42.7% a year ago. This decrease was due to higher manufacturing costs linked to the early production of new products. The company also faced a negative impact from newly imposed federal tariffs on imported materials and partially finished goods.

Adjusted EBITDA was $2.5 million, which increased 10.6% from $2.3 million reported in the year-ago quarter. Adjusted EBITDA margin was down 50 bps year over year to 19.7%.

Financials of MPTI

As of March 31, 2025, M-tron Industries had cash and cash equivalents of $13.7 million compared with $12.6 million at the end of 2024. Inventories were $9.4 million compared with $9.5 million at 2024-end.

MPTI’s Zacks Rank

M-tron Industries currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

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