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Aerospace Demand Drives Taylor Devices' Y/Y Earnings Growth in Q1
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Taylor Devices, Inc. (TAYD - Free Report) reported robust financial results for the first quarter of fiscal 2025, marked by record-breaking revenues and net earnings. The company's earnings per share (EPS) rose significantly to 85 cents, a 63.5% increase compared to the prior-year quarter's 52 cents.
First-quarter sales also saw notable year-over-year growth of 17%, reaching $11.6 million compared to $9.9 million in the first quarter of fiscal 2024. This 17% rise was supported by continued strength in Aerospace/Defense markets, while Structural and Industrial markets also contributed positively, albeit to a lesser extent.
The first quarter results underscore Taylor Devices’ strong business momentum, driven by steady performance across its three key customer product groups: Aerospace/Defense, Structural, and Industrial. Management attributes the growth primarily to favorable trends in the Aerospace/Defense sector, which more than offset the challenges faced by the Structural market, particularly high interest rates and adverse foreign exchange conditions.
CEO Tim Sopko emphasized the benefits of long-term strategic investments in technology (R&D), facilities, and team development as major contributors to financial success. Sopko also highlighted the importance of Taylor Devices’ focus on maintaining a competitive edge, particularly in the U.S. Aerospace/Defense markets, which remains a priority growth area for the company. Additionally, despite the pressures on the Structural segment, Taylor Devices has managed to maintain solid order flow, ensuring a robust order book and a well-supported outlook for the remainder of the fiscal year.
Taylor Devices, Inc. Price, Consensus and EPS Surprise
The company's net earnings surged 44% year over year, climbing from $1.9 million in the first quarter of fiscal 2024 to $2.7 million in the first quarter of fiscal 2025. This exceptional earnings growth reflects the company's continued operational execution and successful implementation of its growth strategies, notably its Profitable Growth Campaigns.
One of the key indicators of future performance, the order backlog, also showed strength. At the end of the first quarter of fiscal 2025, Taylor Devices reported a backlog of $28.4 million, slightly up from $28.3 million in the first quarter of fiscal 2024 and well ahead of the $21.9 million average for the past five fiscal years’ first quarters. The sustained high level of backlog suggests healthy demand across its markets, particularly in Aerospace/Defense, ensuring a solid revenue base in the upcoming quarters.
The EPS saw a sharp year-over-year rise, reflecting both higher sales volumes and improved profitability. The reduction in shares outstanding — from 3.52 million to 3.12 million — also contributed to the EPS increase. This buyback strategy demonstrates management’s confidence in the company’s long-term financial health and commitment to delivering value to shareholders.
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Aerospace Demand Drives Taylor Devices' Y/Y Earnings Growth in Q1
Taylor Devices, Inc. (TAYD - Free Report) reported robust financial results for the first quarter of fiscal 2025, marked by record-breaking revenues and net earnings. The company's earnings per share (EPS) rose significantly to 85 cents, a 63.5% increase compared to the prior-year quarter's 52 cents.
First-quarter sales also saw notable year-over-year growth of 17%, reaching $11.6 million compared to $9.9 million in the first quarter of fiscal 2024. This 17% rise was supported by continued strength in Aerospace/Defense markets, while Structural and Industrial markets also contributed positively, albeit to a lesser extent.
The first quarter results underscore Taylor Devices’ strong business momentum, driven by steady performance across its three key customer product groups: Aerospace/Defense, Structural, and Industrial. Management attributes the growth primarily to favorable trends in the Aerospace/Defense sector, which more than offset the challenges faced by the Structural market, particularly high interest rates and adverse foreign exchange conditions.
CEO Tim Sopko emphasized the benefits of long-term strategic investments in technology (R&D), facilities, and team development as major contributors to financial success. Sopko also highlighted the importance of Taylor Devices’ focus on maintaining a competitive edge, particularly in the U.S. Aerospace/Defense markets, which remains a priority growth area for the company. Additionally, despite the pressures on the Structural segment, Taylor Devices has managed to maintain solid order flow, ensuring a robust order book and a well-supported outlook for the remainder of the fiscal year.
Taylor Devices, Inc. Price, Consensus and EPS Surprise
Taylor Devices, Inc. price-consensus-eps-surprise-chart | Taylor Devices, Inc. Quote
Key Business Metrics
The company's net earnings surged 44% year over year, climbing from $1.9 million in the first quarter of fiscal 2024 to $2.7 million in the first quarter of fiscal 2025. This exceptional earnings growth reflects the company's continued operational execution and successful implementation of its growth strategies, notably its Profitable Growth Campaigns.
One of the key indicators of future performance, the order backlog, also showed strength. At the end of the first quarter of fiscal 2025, Taylor Devices reported a backlog of $28.4 million, slightly up from $28.3 million in the first quarter of fiscal 2024 and well ahead of the $21.9 million average for the past five fiscal years’ first quarters. The sustained high level of backlog suggests healthy demand across its markets, particularly in Aerospace/Defense, ensuring a solid revenue base in the upcoming quarters.
The EPS saw a sharp year-over-year rise, reflecting both higher sales volumes and improved profitability. The reduction in shares outstanding — from 3.52 million to 3.12 million — also contributed to the EPS increase. This buyback strategy demonstrates management’s confidence in the company’s long-term financial health and commitment to delivering value to shareholders.