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What does TAT Technologies do and what are its main business segments?

Did TAT Technologies beat or miss consensus estimates last quarter?

What is TAT Technologies's gross profit margin?

What is TAT Technologies's latest dividend and current dividend yield?

What factors drove the changes in TAT Technologies's revenue and profit?

What were the key takeaways from TAT Technologies’s earnings call?

What is the revenue and EPS growth rate for TAT Technologies year over year?

- **Record Growth and Profitability**: 17% revenue growth, 50% net income increase, and 37% EBITDA expansion in 2025.
- **Backlog Strength**: $550M backlog (30% YoY) driven by new contracts, despite Q4 supply chain disruptions.
- **Gross Margin Expansion**: 25.2% gross margin (210bps YoY), with MRO margin improving 430bps.
- **M&A Focus**: Actively pursuing bolt-on acquisitions to expand capabilities and market presence.
- **2026 Confidence**: Strong cash flow ($15M operating), low debt, and record intake levels support optimistic outlook despite near-term supply chain challenges.

**【CEO Summary Section】**
- **Record Performance in 2025**: Achieved 17% full-year revenue growth, 12 consecutive quarters of double-digit organic growth, and record profitability. Backlog reached $550 million, up 30% year-over-year.
- **Diversified Growth**: Strong performance across all segments (APU, Heat Exchangers, Landing Gear, Trading/Leasing). APU market share expanded in 500 and 200 series, while heat exchangers benefited from new aircraft platforms.
- **Supply Chain Challenges**: Q4 saw delays from major suppliers, impacting APU and landing gear turnaround times. However, underlying demand remains strong, with Q1 intake levels at record highs.
- **Strategic Positioning**: Transitioned to a widely held public company, enhancing U.S. institutional investor access. 2026 outlook driven by $550M backlog, new long-term contracts, and M&A pipeline.

**【CFO Financial Commentary】**
- **Financial Highlights**: Full-year revenue $170.8M (17% YoY), GAAP net income $16.8M (50% growth), adjusted EBITDA $25.5M (37% growth). Gross margin expanded 210bps to 25.2%, operating cash flow $15M (60% of EBITDA).
- **Cash Position**: $51.6M cash, $11.7M loans, debt-to-EBITDA 0.46. Raised capital in 2025 to support growth and M&A.
- **Segment Performance**: MRO revenue占比 71.4% (up from 68.6%), driven by cost-saving initiatives (+430bps MRO gross margin). APU and landing gear growth offset slower OEM activity.

**【Q&A Key Highlights】**
- **Backlog Dynamics**: Q4 backlog increase ($550M vs. $429M YoY) primarily from new contracts, not deferred revenue. MRO intake soft in Q4 but strong in Q1.
- **Supply Chain Impact**: Extended lead times for APU and landing gear parts caused 10-15% cost increases. However, 2026 optimism based on record backlog and operational improvements.
- **M&A Strategy**: Actively pursuing bolt-on acquisitions to expand addressable market. VP of Corporate Development hired; pipeline includes adjacencies to existing operations.
- **Defense Segment**: Small but growing portion of revenue, with increased MRO activity and new platform orders.
- **2026 Outlook**: Despite Q1 supply chain headwinds, confident in 2026 growth driven by backlog, cost efficiencies, and trading/leasing activity.

TAT Technologies Ltd. (TATT) Q4 2025 Earnings Call Transcript

- **Revenue Growth**: 14% YoY to $46.2 million, fueled by strong demand and market share gains.
- **Profitability**: Record 14.6% EBITDA margin and 37% gross profit increase, driven by operational efficiency.
- **Balance Sheet Strength**: $47.1 million cash, 0.5x debt-to-EBITDA, and $170.7 million equity.
- **Strategic Moves**: New directors added to pursue M&A in underserved MRO markets.
- **Landing Gear Surge**: More than doubled YoY, with long-term contracts supporting growth.

**【CEO Summary Section】**
- Q3 2025 revenue grew 14% YoY to $46.2 million, driven by strong demand across core businesses and market share gains.
- Record EBITDA margin of 14.6% (vs. 12.4% in Q3 2024) and $6.8 million adjusted EBITDA, reflecting operational efficiency improvements.
- Backlog remains stable at $520 million, with year-to-date growth of $100 million.
- Strategic initiatives include adding 3 new independent directors to strengthen governance and pursue M&A opportunities in underserved MRO markets.

**【CFO Financial Commentary】**
- Gross profit increased 37% YoY, with gross margin expanding 410bps to 25.1% due to cost optimization and improved product mix.
- Operating income rose 52.6% YoY to $5.2 million, net income reached $4.8 million (vs. $2.9 million YoY).
- Cash flow from operations was $7.5 million in Q3, with 9-month cash flow of $9.5 million (51% EBITDA conversion).
- Strong balance sheet: $47.1 million cash, $12.1 million debt (0.5x debt-to-EBITDA), and $170.7 million shareholders' equity.

**【Q&A Key Highlights】**
- **Landing Gear Growth**: Revenue more than doubled YoY, driven by new E170 cycle contracts. Expect continued volatility but strong long-term trend.
- **Supply Chain Challenges**: APUs and landing gear still face long lead times, but thermal components supply chain stabilized.
- **M&A Strategy**: Focused on accretive bolt-on acquisitions in MRO and thermal systems to expand addressable market.
- **Tax Impact**: New U.S. tax legislation delays tax payments until Q3 2026, improving cash flow flexibility.
- **APU Penetration**: Early stages of 131 APU market entry, with RFP activity but no meaningful wins yet.


TAT Technologies Ltd. (TATT) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: 18% YoY to $43.1 million, driven by MRO and trading segments.
- **Gross Margin Milestone**: 25.1% gross margin, up 320bps YoY.
- **Backlog Expansion**: +$85 million to $524 million, including $40-55 million APU contract.
- **Trading Surge**: Revenue tripled YoY, offsetting MRO volatility.
- **Strategic M&A**: $45 million raise to pursue accretive acquisitions.
- **Cash Flow Strength**: $7 million positive from operations.
- **APU Growth**: New contracts and market share gains in existing platforms.
- **Operational Resilience**: Shifted capacity to trading during MRO slowdown.


**【CEO Opening Remarks】**
- **Revenue Growth**: Q2 2025 revenue of $43.1 million, up 18% YoY, driven by MRO activity and trading segment growth.
- **Gross Margin Milestone**: Achieved 25.1% gross margin, a 320bps improvement YoY, reflecting operational efficiency gains.
- **Backlog Expansion**: Long-term agreement value and backlog increased by $85 million to $524 million, supported by new contracts and customer expansion.
- **Trading Segment Surge**: Trading revenue tripled YoY, offsetting MRO volatility through asset exchanges and leasing.
- **Strategic M&A**: Completed $45 million capital raise to pursue accretive acquisitions, targeting mechanical systems and geographic expansion.
- **Cash Flow Strength**: Generated $7 million in positive cash flow from operations, driven by improved collections and supplier terms.
- **Operational Resilience**: Shifted capacity to trading during MRO slowdown, demonstrating agility to navigate industry volatility.

**【CFO Financial Commentary】**
- **Financial Highlights**: Q2 GAAP net income of $4.4 million (+25% YoY), adjusted EBITDA of $6.1 million (+39% YoY), and 14% EBITDA margin.
- **Currency Impact**: $0.5 million exchange loss due to Israeli shekel strength, but no further expected impact in Q3.
- **Backlog Breakdown**: APU and landing gear backlog grew to $204 million, including new 777 APU contracts.
- **Liquidity Position**: $43 million cash, Debt-to-EBITDA ratio of 0.5, and 78% equity-to-balance ratio, enabling strategic flexibility.
- **Tax Outlook**: U.S. tax bill may reduce taxable income, but Israel tax payments expected by year-end.

**【Q&A Highlights】**
- **MRO Recovery**: Airlines depleted spares during macro uncertainty, leading to Q2 MRO acceleration; no specific market driver identified.
- **Trading Volatility**: Trading growth reliant on asset acquisition and MRO capacity, with steady leasing demand.
- **APU Strategy**: Gaining market share on existing platforms while pursuing new engine contracts (e.g., 777 APU).
- **M&A Discipline**: Focused on bolt-on acquisitions in mechanical systems, avoiding overvaluation risks.
- **Margin Expansion**: Consistent improvement through operational efficiency, cost control, and product mix optimization.
- **Freight Sector**: Tariff concerns impacted MRO intake, but high aircraft utilization supports long-term demand.


TAT Technologies Ltd. (TATT) Q2 2025 Earnings Call Transcript

- **Revenue Growth**: Q1 2025 revenue up 23.6% YoY to $42.1 million, driven by APUs (+34%) and landing gear (+127%).
- **Margin Expansion**: Gross margin improved 290 bps to 23.6%, EBITDA margin rose to 13.6%.
- **Backlog Strength**: $439 million backlog, 54% from heat exchangers, 27% from APUs.
- **APU Opportunity**: Targeting $2 billion addressable market, with strategic inventory investments.
- **Tax Transition**: Non-cash tax expenses to continue until Q4 2025, positioning for cash profitability.

**【CEO Summary Section】**
- Q1 2025 revenue increased 23.6% YoY to $42.1 million, driven by strong demand across core businesses.
- Gross profit rose 40.9% to $10 million, with gross margin expanding 290 basis points to 23.6%.
- Adjusted EBITDA grew 56.2% to $5.7 million, reflecting operational efficiency improvements.
- Backlog reached $439 million, supported by long-term agreements and APU expansion.
- APU work pipeline expanded, with strategic inventory investments to maintain service levels amid supply chain challenges.

**【CFO Financial Commentary】**
- Heat exchange revenue increased 30% YoY to $18.4 million, APU revenue rose 34% to $12.3 million, and landing gear revenue surged 127% to $3.3 million.
- Non-GAAP net income was $3.8 million, with tax expenses driven by non-cash adjustments.
- Backlog composition: 54% heat exchangers, 27% APUs, and 13% landing gear.
- Expecting to become tax profitable in late 2025, with ongoing margin expansion initiatives.

**【Q&A Key Highlights】**
- **Backlog Growth**: Driven by both new and repeat customers across APUs, landing gear, and thermal solutions.
- **Profitability**: Margin improvements due to operational efficiencies, not pricing changes.
- **Supply Chain**: Increased inventory to maintain service levels, despite ongoing volatility.
- **Defense Market**: Strategic focus on U.S. Armed Forces RFPs, with long-term growth potential.
- **APU Expansion**: Winning RFPs and expanding addressable market, targeting 131 APU platforms.
- **Tax Outlook**: Non-cash tax expenses to continue until Q4 2025, followed by cash payments.

TAT Technologies (TATT)-20 May 25-2025 Q1 Earnings call transcript

- **Revenue Powerhouse**: 34% YoY growth to $152.1M, 29% Q4 surge, 139% net income jump.
- **Profitability Leap**: 21.7% gross margin (vs. 19.7%), 12.2% EBITDA margin, $1.00 EPS (95% YoY).
- **APU Growth Engine**: 132% YoY APU revenue, 2025 focus on small/medium airline wins.
- **Strategic Inventory**: $20M+ invested in parts to mitigate supply chain delays.
- **2025 Outlook**: EBITDA >15%, 50%+ trading/leasing growth, landing gear peak in 2026-2028.

**【CEO Annual Performance Overview】**
- 2024 revenue reached $152.1M (34% YoY growth), with Q4 revenue of $41M (29% YoY growth). Net income surged 139% to $11.2M, driven by 21.7% gross margin (up from 19.7% in 2023) and 12.2% EBITDA margin.
- New APU 131 and 500 engines launched, targeting a $429M backlog (up 5.6% YoY). Trading/leasing segment grew 121% to $13.9M, leveraging in-house MRO capabilities for high-margin opportunities.
- Inventory investment of $20M+ in strategic parts (e.g., engines, landing gears) to mitigate supply chain delays, despite negative operating cash flow.

**【CFO Financial Highlights】**
- Q4 2024: $41M revenue, 23.2% gross margin, $5.4M EBITDA (60% YoY growth), $0.32 EPS (658% YoY). Full year: $152.1M revenue, 21.7% gross margin, $18.6M EBITDA (67% YoY), $1.00 EPS (95% YoY).
- Segment growth: Heat exchangers ($63.2M, 34% YoY), APUs ($43.3M, 132% YoY), landing gears ($12.5M, 42% YoY). 82% of revenue from commercial aviation, 70% from North America.
- 2025 outlook: EBITDA >15%, focus on profitability via cost control and margin expansion.

**【Q&A Key Insights】**
- **APU Demand**: Focusing on small/medium airlines with 50+ active RFPs, targeting 2025 wins. Trading/leasing to grow 50%+ via captive MRO.
- **Landing Gear Cycle**: Peak demand in 2026-2028, with 2025 revenue up 3x YoY.
- **MRO Market**: Strong demand due to supply chain lag, 40% of revenue from ad-hoc orders vs. 60% from long-term contracts.
- **Pricing**: Contractual customers see index-linked increases; non-contractual pricing balanced for margin sustainability.
- **Financial Health**: $2M annual interest expenses, 2025 tax expenses due to asset/liability revaluation, 2026+ tax payments.


Actual											0.7															0.26	0.26	0.315	0.34	0.3	0.37	0.36
Forecast																												0.29	0.31	0.285	0.39	0.392
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+8.62%	+9.68%	+5.26%	-5.13%	-8.16%

Actual	--	--	--	--	--	--	--	--	--	--	55.17M	--	--	--	--	--	--	--	--	--	--	--	--	--	--	36.50M	40.50M	41.02M	42.14M	43.10M	46.23M	46.53M
Forecast	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	38.00M	42.59M	43.84M	46.50M	48.04M
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+7.95%	-1.06%	-1.69%	-0.56%	-3.14%

TATT

TATT fundamentals

TATT Q4 2025 Earnings

Earnings Call

You can ask Aime

TATT

TATT fundamentals

TATT Q4 2025 Earnings

Earnings Call

TATT Earnings Call Summary for Q4/20258:00 AM on Mar 19, 2026

TATT Earnings Call Summary for Q3/20258:30 AM on Nov 13, 2025

TATT Earnings Call Summary for Q2/20258:00 AM on Aug 12, 2025

TATT Earnings Call Summary for Q1/20258:30 AM on May 20, 2025

TATT Earnings Call Summary for Q4/2024Invalid Date on Mar 27, 2025

You can ask Aime