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Hot Stocks
Air Industries announces 1 for 10 reverse stock split » 08:34
10/04/22
10/04
08:34
10/04/22
08:34
AIRI

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Air Industries Group …

Air Industries Group announced a reverse stock split of its issued and outstanding common stock, par value $0.001 per share, at a ratio of one share of common stock for every ten shares of common stock, effective as of 12:01 a.m. on October 18 .

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Over a week ago
Hot Stocks
Air Industries wins two contracts worth $5M for aircraft components » 08:34
09/15/22
09/15
08:34
09/15/22
08:34
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Air Industries announced…

Air Industries announced that it has won two contracts with a combined total value of $5M. The company's Air Industries Machining, or AIM, subsidiary has been awarded a five-year long-term agreement to manufacture flight-critical assemblies for the Blackhawk helicopter, with an estimated value of $2.2M. AIM has manufactured this product for many years. The new LTA extends until December 31, 2027, replacing an existing LTA expiring at 2022 year-end. Air Industries also said its Sterling Engineering subsidiary has received a new order worth $2.8M for engine components to be used on the F404 jet engine. This engine, which powers frontline fighters and trainers around the world, has been in production for many years and is being used in the new Boeing-Saab T-7A Red Hawk advanced jet training aircraft.

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Over a month ago
Earnings
Air Industries reports Q2 revenue $14M vs. $15.5M last year » 10:11
08/08/22
08/08
10:11
08/08/22
10:11
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Lou Melluzzo, CEO of Air…

Lou Melluzzo, CEO of Air Industries said, "The Company continued to make progress in the second quarter of 2022 - a challenging period during which, like most manufacturing businesses, we faced significant supply chain disruptions affecting the availability of raw materials. Nevertheless, comparing our 2022 second quarter performance to this year's first quarter, which reflected a similar operating environment, net sales were up 16%, consolidated gross profit was up nearly 17%, and operating income rose nearly 20%. The raw material delays and delays in outside processing, regrettably, impeded the production of some customer orders, which largely contributed to the decrease in sales compared with the year-ago quarter and six month periods. That said, the recent periods demonstrate the advantages of Air Industries' diverse mix of stable aircraft product platforms and customers. While sales declined overall for the first half of 2022 versus 2021, we experienced solid increases in some platforms, namely the Northrup Grumman E2-D, and the Pratt & Whitney Geared Turbo Fan. We also saw increased volume of assemblies for the Sikorsky CH-53 helicopter. We are working diligently to address the current challenging environment. In particular, we are continuing our vertical integration strategy, which is designed to improve efficiency and shorten production times. Our in-house painting facility is up and running, and undergoing qualification, and we are establishing a function at our Sterling operation that should facilitate the assembly process for a substantial customer order The long-term prospects for our marketplace are strong. We attended the recent Farnborough Airshow, one of the key events for the aerospace industry, where the tone was generally upbeat. For example, demand remains substantial for the Lockheed Martin F-35 Joint Strike Fighter, which is the best-in-world fifth-generation fighter aircraft, and the fighter aircraft program of record for allied militaries around the globe. We are continuing to position Air Industries for enhanced performance in our growing industry through investments in vertically integrated processes and capital equipment to make us an even more valuable partner to our aerospace and defense customers, while pursuing expanded business development and sales efforts."

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Over a quarter ago
Earnings
Air Industries reports Q1 net loss $28K vs.net loss of $152K last year » 08:38
05/02/22
05/02
08:38
05/02/22
08:38
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Reports Q1 revenue…

Reports Q1 revenue $12.1M,vs. $15.4M in Q1 last year. Lou Melluzzo, CEO of Air Industries said, "The first quarter showed our continued progress in driving profitability. As expected, revenue for the first quarter was lower year-over-year, largely due to some supply chain issues and timing of orders under a Long-Term Agreement. But, our earnings and EBITDA were greater or essentially equal, respectively, to the first quarter of 2021. EBITDA as a percentage of sales increased by nearly 100 basis points. Our results for the first quarter are in line with expectations discussed in our March conference call reporting full-year 2021 results. "There are several factors that affected sales in the first quarter. First, we have endured some supply chain-related delays in receiving raw materials, as well as labor shortages. In addition, our Long-Term Agreement with one of our major customers ended in December 2021. During the 2022 first quarter, this LTA was renewed for an additional five years. "For the remainder of the year and beyond, we will focus our attention on improving the performance of our Sterling operation in Connecticut. We have bolstered management at Sterling and intensified our business development sales activity, and this is showing very good results. We have announced several major wins for Sterling, many involving new customers and new platforms. "We are continuing our investments in state-of-the-art machinery. We recently committed to the purchase of three major machining centers at a total cost of $2 million. Since 2020 we have invested approximately $6 million in new machines - more than 50% of the total book value of our equipment. "For the full year 2022, we continue to expect that our gross profit and net income will be higher than last year."

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Hot Stocks
Air Industries gets $12.4M U.S. Navy contract for E-2D advanced Hawkeye parts » 08:44
02/07/22
02/07
08:44
02/07/22
08:44
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Air Industries Group…

Air Industries Group announced that its Long Island based subsidiary, Air Industries Machining , has been awarded a contract to produce complete Main and Nose landing gear and ancillary components for the US Navy's E-2D Advanced Hawkeye, airborne early warning aircraft. The contract value is approximately $12.4M with deliveries beginning next year and is expected to be completed in 2024.

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Hot Stocks
Air Industries wins $2.4M long-term parts agreement for Blackhawk helicopters » 16:34
02/02/22
02/02
16:34
02/02/22
16:34
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Air Industries Group…

Air Industries Group announced that its Long Island-based subsidiary, Air Industries Machining Corp., has been awarded a Long-Term Agreement to manufacture flight-critical products for the Blackhawk helicopter. The estimated value of the LTA is $2.4M.

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Hot Stocks
Air Industries receives order for landing gear of US Air Force's B1-B » 16:31
01/31/22
01/31
16:31
01/31/22
16:31
AIRI

Air Industries

$0.85 /

+0.0195 (+2.35%)

Air Industries Group…

Air Industries Group announced that its Long Island-based subsidiary, Air Industries Machining Corp., has been awarded a contract to produce components for the landing gear of the US Air Force's B1-B. The contract value is approximately $1.9M with deliveries in 2023.

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AIRI Air Industries
$0.85 /

+0.0195 (+2.35%)

Hot Stocks
Air Industries wins two LTAs for Blackhawk Helicopters worth $18.2M » 16:36
01/19/22
01/19
16:36
01/19/22
16:36
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Air Industries Group…

Air Industries Group announced that its Long Island-based subsidiary, Air Industries Machining Corp., has been awarded two separate Long-Term Agreements to manufacture flight-critical assemblies for the Blackhawk helicopter. The estimated value of the two LTAs will total approximately $18.2M over their five-year terms. The agreements include a five-year LTA to manufacture the primary flight control assembly for the Blackhawk helicopter, with an estimated life-of-the-contract value of $9.9M. The second five-year LTA, to produce a flight critical component for the same aircraft, has an estimated life-of-the-contract value of $8.3M.

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Hot Stocks
Air Industries awarded 'Life of the Program Extension' to deliver components » 08:38
01/06/22
01/06
08:38
01/06/22
08:38
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, EADSY

Airbus

$33.48 /

+ (+0.00%)

, BA

Boeing

$213.06 /

-0.59 (-0.28%)

Air Industries Group…

Air Industries Group (AIRI) is pleased to announce that its Sterling Engineering subsidiary has been awarded a "Life of the Program Extension" of a Long-Term Agreement to deliver Turbine Exhaust Case components for the PW-4000 jet engine used on many Airbus (EADSY) and Boeing (BA) commercial aircraft, including the A-330 and Boeing 777. It is anticipated that this contract extension will generate revenue in excess of $6 million over its remaining term. Turbine Exhaust Cases are highly engineered critical components of jet engines. The TEC for the PW-4000 is five feet in diameter. Sterling Engineering has been producing this component for the PW-4000 jet engine for over ten years. Mr. Lou Melluzzo, CEO of Air Industries, commented: "One of the key corporate objectives at Sterling Engineering is to transition a larger percentage of the product mix into long term agreements. Extending this Exhaust Case component for the "life of the program" confirms our customer's confidence that we can produce it competitively and meet their delivery requirements. This award, together with the LTA for the CH-53K helicopter that we announced on October 13th of last year, furthers our progress with the transition of Sterling Engineering's business."

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EADSY Airbus
$33.48 /

+ (+0.00%)

BA Boeing
$213.06 /

-0.59 (-0.28%)

AIRI Air Industries
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EADSY Airbus
$33.48 /

+ (+0.00%)

12/14/21 JPMorgan
Airbus price target lowered to EUR 150 from EUR 160 at JPMorgan
10/29/21 Deutsche Bank
Airbus price target raised to EUR 137 from EUR 131 at Deutsche Bank
10/21/21 RBC Capital
Spirit AeroSystems initiated with an Outperform at RBC Capital
10/20/21 Bernstein
Boeing price target lowered to $269 from $279 at Bernstein
BA Boeing
$213.06 /

-0.59 (-0.28%)

01/06/22 Susquehanna
Boeing MAX order starts year off right, says Susquehanna
12/22/21 Susquehanna
China ungrounding key event for Boeing in 2022, says Susquehanna
12/20/21 BofA
Boeing price target lowered to $220 from $245 at BofA
12/15/21 Susquehanna
Boeing delivery momentum building as 787 remains on hold, says Susquehanna
EADSY Airbus
$33.48 /

+ (+0.00%)

BA Boeing
$213.06 /

-0.59 (-0.28%)

EADSY Airbus
$33.48 /

+ (+0.00%)

BA Boeing
$213.06 /

-0.59 (-0.28%)

EADSY Airbus
$33.48 /

+ (+0.00%)

BA Boeing
$213.06 /

-0.59 (-0.28%)

BA Boeing
$213.06 /

-0.59 (-0.28%)

Hot Stocks
Air Industries announces new $5.2M long-term agreement for CH-53K Helicopter » 16:20
10/14/21
10/14
16:20
10/14/21
16:20
AIRI

Air Industries

$1.04 /

-0.01 (-0.95%)

Air Industries Group is…

Air Industries Group is pleased to announce that its Sterling Engineering subsidiary has been awarded a new Long-Term Agreement to deliver "Chaff Pods" for the new CH-53K heavy lift helicopter. Based on existing orders for the aircraft the LTA should have a minimum value in excess of $5.2M.

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AIRI Air Industries
$1.04 /

-0.01 (-0.95%)

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