Allient Inc. (ALNT) Tops Q3 EPS by 8c, Beats on Revenue
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Allient Reports Third Quarter 2024 Results; Simplify to Accelerate NOW Initiatives Drive Sequential Margin Expansion
November 6, 2024 4:29 PM ESTThird quarter performance: Revenue was $125.2 million with a gross margin of 31.4% and net income of $2.1 million Improved margins sequentially: Gross margin up 150 basis points to 31.4%, operating margin up 170 basis points to 5.3%, and adjusted EBITDA margin rose 130 basis points to 11.5% Strong cash flow: $29.5 million of cash generated from operations year-to-date and ended the quarter with $37.1 million of cash Cost reductions: Additional Simplify to Accelerate NOW efforts implemented, bringing total annual cost reductions to $10 million
BUFFALO, N.Y.--(BUSINESS... More
