Thursday, May 23, 2024 TAT Technologies Ltd. (NASDAQ: TATT) (TASE: TATT) (“TAT” or the “Company”), a prominent supplier to the commercial and military aerospace and ground defense sectors, today announced its unaudited financial results for the quarter ending March 31, 2024. Key financial outcomes for the first quarter of 2024 include: Mr.
Igal Zamir, CEO and President of TAT, remarked on the results: “The first quarter of 2024 marked the seventh consecutive quarter of revenue and EBITDA growth, reflecting steady demand for our solutions and the robustness of our business model. As we expand our operations and enhance our capacity to meet short-term demands, we are focusing on operational efficiency to reduce backorders, navigate industry-wide supply chain challenges, improve customer satisfaction, and maximize profitability. In Q1, we secured orders and long-term agreements worth over $40 million, boosting our backlog and LTA value to over $410 million, setting the stage for continued business momentum and supporting our revenue growth strategy for the remainder of 2024 and beyond.
” Non-GAAP Financial Measures The Company supplements its consolidated financial statements, presented according to GAAP, with Adjusted EBITDA to provide a more complete understanding of its operational results and trends to both management and investors. Adjusted EBITDA excludes the Company’s share in results of affiliated companies, share-based compensation, taxes on income, financi.
