M-tron Industries, Inc. (MPTI Quick QuoteMPTI - Free Report) reported fourth quarter of 2024 results, wherein adjusted earnings met the Zacks Consensus Estimate and revenues missed the same. Nonetheless, both metrics increased on a year-over-year basis.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

Following the results, the company’s shares gained 2% in yesterday’s after-hours trading session.

The company reported record revenues for the third consecutive year, driven by more than 40% growth in the Aerospace and Defense sector. The Avionics sector also grew slightly, focusing on large commercial aircraft and some business jets. Although major airframe providers faced challenges, the sector is expected to improve as the backlog of orders is processed.

Inside MPTI’s Q4 Numbers

M-tron Industries reported adjusted earnings of 73 cents per share. The figure increased significantly from 3 cents per share reported in the year-ago quarter.

Quarterly revenues of $12.81 million missed the consensus mark of $12.9 million by 1%. However, the reported figure increased 18.9% from the year-ago quarter’s $10.77 million. This upside was backed by continued strong defense program product and solution shipments.

As of Dec. 31, 2024, the total backlog was $47.2 million compared with $47.8 million at 2023-end. The slight decrease reflected MPTI's focus on securing long-term contracts, which impacted backlog due to order timing and size.

MPTI’s Operating Highlights

Gross margin was 47.2%, up 360 basis points (bps) from 43.6% a year ago. The increase was primarily due to higher revenues, improved manufacturing efficiencies and an improved product mix of higher-margin.

Adjusted EBITDA was $3.1 million, which increased 27.5% from $2.4 million reported in the year-ago quarter. Adjusted EBITDA margin was up 160 bps year over year to 23.9%.

MPTI’s 2024 Highlights

Total revenues were up 19.1% to $49 million. Adjusted earnings were $2.65 per share, up from $1.28 in 2023. Adjusted EBITDA was $11.1 million, up 44.8% from $7.7 million in 2023.

Financials of MPTI

As of Dec. 31, 2024, M-tron Industries had cash and cash equivalents of $12.6 million compared with $3.9 million at the end of 2023. Inventories were $9.5 million compared with $8.9 million at 2023-end.

MPTI’s Zacks Rank

M-tron Industries currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Some other top-ranked stocks from the Construction sector are Quanex Building Products (NX Quick QuoteNX - Free Report) , Gibraltar Industries, Inc. (ROCK Quick QuoteROCK - Free Report) and  Janus International Group (JBI Quick QuoteJBI - Free Report) .

Quanex currently sports a Zacks Rank of 1. It delivered a trailing four-quarter earnings surprise of 115.2%, on average. The stock has fallen 19.5% year to date (“YTD”).

The consensus estimate for Quanex’s 2025 sales and earnings per share (EPS) indicates an increase of 44% and 16.4%, respectively, from a year ago.

Gibraltar currently carries a Zacks Rank #2 (Buy). It delivered a trailing four-quarter earnings surprise of 1.8%, on average. The stock has jumped 4.7% YTD.

The Zacks Consensus Estimate for Gibraltar’s 2025 sales and EPS implies an increase of 9.8% and 15.5%, respectively, from a year ago.

Janus International currently carries a Zacks Rank #2. It surpassed earnings estimates in two of the trailing four quarters and missed on the other occasions, with the average surprise being 85.1%. The stock has risen 1.3% YTD.

The Zacks Consensus Estimate for Janus' 2025 sales and EPS indicates a decrease of 9.3% and 15.8%, respectively, from a year ago.