TAT Technologies Ltd (TATT) News & EventsTATTNews & EventsTAT Technologies Ltd

TAT Reports Q2 Revenue of $52.9M, Beating Expectations

Reports Q2 revenue $52.9M, consensus $44.86M. "Continued strong demand and solid execution drove nearly 23% revenue growth and continued profitability improvements," said Igal Zamir, TAT's CEO and President. "This performance reflects our strategic position in the market, targeting high-demand services backed by established and solid relationships with OEMs. In part, improving supply chain conditions enabled us to convert previously constrained customer demand into revenue in the quarter, further enhancing results. Demand across our end markets remains robust and customer loyalty remained strong despite the supply chain shortages, driving backlog and long-term agreements to the highest in company history. Although supply chain conditions have not fully normalized, we remain focused on securing the components our customers need, reinforcing our position as a trusted aftermarket partner and supporting long-term profitable growth."

TAT Technologies Expands Relationship with Honeywell Aerospace

TAT Technologies (TATT) announced an expansion of its relationship with Honeywell Aerospace (HONA), under which TAT will become the sole global authorized distributor of spare parts for the 331-200/250 auxiliary power unit platform. As part of this agreement, the company also signed an extension for its MRO licenses for this platform until 2036 and acquired three Honeywell Aerospace 131-9A APUs to expand its trading and leasing business. This agreement positions TAT as the leading global provider of MRO services and aftermarket parts support for the platform.

TAT Technologies Secures $45M MRO Contracts

TAT Technologies announced the award of several new long-term maintenance, repair and overhaul "MRO" agreements with international commercial and cargo airline customers, representing estimated aggregate revenue of approximately $45M over contract terms ranging from 5 to 10 years. The newly awarded agreements include support across auxiliary power unit platforms under TAT's OEM authorization as well as MRO for heat exchangers. The company believes these awards will further reinforce its growing position within the global commercial aviation aftermarket and reflect continued demand for its APUs and thermal components.