industry tailwindsEvery now and then a company , like a band, becomes an overnight sensation despite having been around for years , here's to hoping .
Industry conditions are favourable: see recent Canadian aerospace peers.
A discussion of Magellan’s operating results for the second quarter ended June 30, 2023 The Corporation reported revenue in the second quarter of 2023 of $219.7 million, a $27.0 million increase from second quarter of 2022 revenue of $192.7 million. Gross profit and net income for the second quarter of 2023 were $23.0 million and $2.0 million, respectively, in comparison to gross profit of $12.5 million and net income of $0.5 million for the second quarter of 2022.
HROUX-DEVTEK REPORTS FIRST QUARTER RESULTS
Canada NewswireAug 8, 2023 7:00 AM EDT
Highlights
- Sales increased to $140.7 million , up from $114.1 million a year ago, or 23.3% year-over-year
- Operating income of $7.5 million , compared to $2.6 million a year ago,
- Adjusted EBITDA 1 increased 43.2% to $16.4 million , compared to $11.4 million a year ago
- Earning per share increased to $0.12 , compared to $0.03 last year
- Cash flows related to operating activities reflect higher working capital to support operations and growth
LONGUEUIL, QC , Aug. 8, 2023 /CNW/ - Hroux-Devtek Inc. (TSX: HRX) ("Hroux-Devtek" or the "Corporation"), a leading international manufacturer of aerospace products and the world's third-largest landing gear manufacturer, today reported its financial results for the first quarter ended June 30, 2023 . Unless otherwise indicated, all amounts are in Canadian dollars.
"We are proud of our performance this quarter, as we delivered sales totaling $141 million , bringing our trailing twelve-month total to $570 million. Fulfilling orders at a steady pace remains a challenge in this environment and this quarter's success is the direct result of the improvements we put in place over the past year. Our teams have managed a substantial surge in demand, positioning us to further improve our results and expand our market share. I would like to thank every employee for their professionalism and dedication," said Martin Brassard , President and CEO of Hroux-Devtek.
"We are well positioned for upcoming opportunities in both the civil and defence market segments. While our order book is already healthy, our customers have many projects, and we will continue to support them as they pursue their growth," added Mr. Brassard.
Throw in recent company acquisitions and we should see a decent growth rate IMO