Air Industries Group (AIRI) stock, an aerospace and defense company, announced receival of the order worth $7.4 Million for “Thrust Struts,” which is the critical component of the Geared Turbofan (“GTF”) Jet Engine, after which the AIRI stock price declined today by 0.82% to reach $1.21 a share as of this writing. AIRI stock was gloomy in the previous trading session and went down by 0.81% at closing. Let’s have a deep look at recent events.
What’s happening?
AIRI stock price happened to be green after the announcement of an order made by Air Industries. Military aviation products play an important role in the Air Industries business. The Thrust Strut is the largest commercial aviation product which is made for the smaller airliners especially Embraer E2 and Airbus A-220. Due to the outbreak of coronavirus pandemic, the demand for Thrust Strut reduced but now things are under control and the rebound in commercial aviation is occurring at a fast pace.
When it comes to discovering hidden gems within the stock market, Stock Wire News has consistently provided invaluable insights. Stock Wire News invites you to explore their upcoming Wealth Building Report. This report will shine a spotlight on little-known companies with the potential for substantial growth in 2024, and it's completely FREE for a limited time.
Claim the free report now by clicking here and start discovering the hidden gems of the market
Sponsored
Read More
First Quarter 2021 Financial Results:
On May 11, 2021, AIRI stock did announce its financial results for the first quarter 2021 ended March 31, the highlights of which are given below:
- AIRI stock generated $13.7 million from the consolidated net sales in the first quarter of 2021 representing a 2.2% increase as compared to $13.4 million in the same period of the prior year.
- Consolidated gross profit declined by 18.1% to drop at $1.8 million as compared to $2.2 million in the first quarter of 2020.
- Operating expenses reduced to $1.8 million in Q1 2021 from $2.3 million in the same tenure of 2020.
- Operating income for the AIRI stock in the first quarter of 2021 was $27,000 as compared to operating loss of $81,000 in the first quarter of 2020.
- AIRI stock spent $297,000 in interest and financing in Q1 2021 while these expenditures were $380,000 in the first quarter of 2020.
Purchase Order for F-18:
In the first week of April, AIRI stock did announce the winning of purchase orders worth $6 Million in order to manufacture landing gear components for the F-18 fighter aircraft.
Conclusion:
A $7.4 Million order for “Thrust Struts, is a good sign for the AIRI stock for future growth.COVID-19 had affected the business but now things are going back to normal which means AIRI stock will show good performance in the future. From an investment perspective, it is better to do deep research before adding this stock to the portfolio.
