Form 6-K TAT TECHNOLOGIES LTD For: Aug 05
Tweet
Share
E-mailUNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
F O R M 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of August 2026
TAT TECHNOLOGIES LTD.
(Name of Registrant)
9335 Harris Corners Pkwy, Charlotte, NC 28269
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7): ☐
Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐ No ☒
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82- ____________
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
|
|
TAT TECHNOLOGIES LTD.
(Registrant)
By: /s/
Ehud Ben-Yair
Ehud Ben-Yair
Chief Financial Officer
|
Date: August 5, 2026
TAT Technologies Reports Record Second Quarter 2026 Results
Revenue Increases 22.8% as Demand Remains Strong and Supply Chain Conditions Ease; Backlog
and Long-Term Agreements Reach Record $615 Million
CHARLOTTE, N.C., August 5, 2026
– TAT Technologies Ltd. (NASDAQ: TATT, TASE: TAT Tech), a leading supplier of products and services for the commercial and military aerospace and ground defense industries, today reported financial results for the second quarter ended June 30,
2026.
Financial highlights:
| • |
Revenues were $52.9 million, a 22.8% increase compared to $43.1
million in the second quarter of 2025. For the first half of 2026, revenues increased by 10.4% to $94.1 million compared to $85.2 million in the first half of 2025.
|
| • |
Gross profit increased by 23.0% to $13.3 million, representing
25.2% of revenues, compared to $10.8 million (25.1% of revenues) in the second quarter of 2025. For the first half of 2026, gross profit increased by 12.4% to $23.4 million compared to $20.8 million in the first half of 2025 (24.8% of
revenues in the first half of 2026 compared to 24.4% of revenues in the first half of 2025).
|
| • |
Operating Income increased by 26.8% to $5.6 million (10.6% of revenues) compared to $4.4 million (10.3% of revenues) for Q2 2025. For the first half of 2026, operating income was $8.6 million
(9.1% of revenues) compared to $8.6 million (10.1% of revenues) in the first half of 2025
|
| • |
Net Income of $8.1 million (Diluted EPS of $0.61) compared to
$3.4 million for Q2 2025 (Diluted EPS of $0.3). The second quarter of 2026 included a $4.3 million (Diluted EPS of $0.26) net of tax, non-operating gain from the sale of a minority interest in an unconsolidated entity. Excluding the
non-recurring benefit, net income would have been $4.66 million, an increase of 35.2% compared to the previous period (and Adjusted Diluted EPS of $0.35). For the first six months of the year, net profit was $11.5 (Diluted EPS of $0.87)
million. Excluding the one-time net impact of the minority interest sale, net profit for the first six months was $8.06 million, an increase of 11.0% compared to $7.3 million in the previous period.
|
| • |
Adjusted EBITDA was $7.4 million (14.0% of revenues), a 22.7%
increase from $6.1 million (14.0% of revenues) for Q2 2025. Adjusted EBITDA for the first half of 2026 increased by 4.1% to $12.3 million (13.1% of revenues) compared to $11.8 million (13.8% of revenues) in the first half of 2025.
|
| • |
Cash flow used in operations for the second quarter was $(0.6)
million compared to $6.9 million provided by operations in Q2 2025. Cash flow from operations was $1.4 million in the first half of 2026 compared to $1.9 million in the first half of 2025.
|
| • |
Backlog and Long-Term Agreements: approximately $615 million
as of June 30, 2026, up from approximately $580 million on March 31, 2026, reflecting continued strong customer demand and providing multi-year revenue visibility.
|
“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.”
“We have expanded our strategic relationship with Honeywell Aerospace” Zamir continued. “We became the sole authorized distributor(*)
of spare parts for the 331-200 auxiliary power unit platform (APU), extended our MRO license through 2036, and acquired three Honeywell Aerospace 131-9A APUs to expand our leasing business. These agreements strengthen our position in the APU
aftermarket and ensure that we will continue to be a valued partner for Honeywell for a long time to come.”
"We believe the combination of historically high customer demand, expanding platform coverage, and a record backlog, combined with
improving supply chain conditions, positions TAT well for continued profitable growth," Concluded Zamir.
(*) As previously disclosed in the Company's Report on Form 6-K filed on July 14, 2026.
Investor Call Information
TAT Technologies will host an earnings webcast and conference call today, August 5, 2026, at 8:00 a.m. Eastern Time to discuss second
quarter results. Investors may register using the link below or by visiting the Company's website.
Webcast Registration: https://us06web.zoom.us/webinar/register/WN_MRtan_3wQoG9XfDYLkuNeA
Investor Relations Website: https://tat-technologies.com/investors/
Non-GAAP Financial Measures
To supplement its GAAP results, the Company presents Adjusted EBITDA to provide investors with additional insight into underlying
operating performance. Adjusted EBITDA excludes the Company's share in results of affiliated companies, share-based compensation, income taxes, net financial (expenses) income, and depreciation and amortization. Adjusted EBITDA should not be
considered as an alternative to net income and operating income for the period and may not be indicative of the historic operating results of the Company; nor is it meant to be predictive of potential future results. Adjusted EBITDA is not a
measure of financial performance under generally accepted accounting principles and may not be comparable to other similarly titled measures for other companies. See reconciliation of Adjusted EBITDA below.
2
About TAT Technologies
TAT Technologies Ltd. (NASDAQ: TATT) (TASE: TAT Tech) is a leading provider of services and products to the commercial and military
aerospace and ground defense industries, providing OEM heat transfer solutions and aviation accessories, MRO services for aviation components, including heat transfer solutions, overhaul and coating of jet engine components, including turbine vanes
and blades, fan blades, variable inlet guide vanes and afterburner flaps and MRO services on APU's, landing gears and other aircraft components for airlines, air cargo carriers, maintenance service centers and the military. For more information,
please visit www.tat-technologies.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the United States federal
securities laws. These forward-looking statements include, without limitation, statements regarding possible or assumed future operating results, demand conditions, supply chain conditions, customer relationships, backlog conversion, market
position, and growth prospects. These statements are hereby identified as “forward-looking statements” for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks
and uncertainties that could cause our results to differ materially from management's current expectations. Actual results and performance can also be influenced by other risks that we face in running our operations, including, but not limited to,
general business conditions in the airline industry, changes in demand for our services and products, the timing and amount or cancellation of orders, LTAs and backlog, the price and continuity of supply of component parts used in our operations,
the war and hostilities between Israel and Hamas, Hezbollah and Iran, regional shipping disruptions and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form
20-F and its periodic reports on Form 6-K. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Shareholders and
other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update publicly or revise any forward-looking statement.
Contact:
Eran Yunger
Director of IR
Tel: +1-980-451-1115
3
UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
4
TAT TECHNOLOGIES LTD.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
U.S dollars in thousands
|
June 30,
|
December 31,
|
|||||||
|
2026
|
2025
|
|||||||
|
ASSETS
|
||||||||
|
CURRENT ASSETS:
|
||||||||
|
Cash and cash equivalents
|
$
|
54,629
|
$
|
51,259
|
||||
|
Accounts receivable, net of allowance for credit losses of $228 and $172 as of June 30, 2026, and
December 31, 2025, respectively
|
38,813
|
33,420
|
||||||
|
Inventory
|
85,189
|
75,549
|
||||||
|
Prepaid expenses and other current assets
|
7,041
|
6,071
|
||||||
|
Total current assets
|
185,672
|
166,299
|
||||||
|
NON-CURRENT ASSETS:
|
||||||||
|
Property, plant and equipment, net
|
47,001
|
46,922
|
||||||
|
Operating lease right of use assets
|
5,285
|
5,807
|
||||||
|
Intangible assets, net
|
1,884
|
1,452
|
||||||
|
Investment in affiliates
|
5,726
|
4,905
|
||||||
|
Funds in respect of employee rights upon retirement
|
446
|
398
|
||||||
|
Deferred tax assets
|
573
|
639
|
||||||
|
Restricted deposit
|
-
|
307
|
||||||
|
Total non-current assets
|
60,915
|
60,430
|
||||||
|
Total assets
|
$
|
246,587
|
$
|
226,729
|
||||
5
TAT TECHNOLOGIES LTD.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
U.S dollars in thousands
|
June 30,
|
December 31,
|
|||||||
|
2026
|
2025
|
|||||||
|
LIABILITIES AND SHAREHOLDERS’ EQUITY
|
||||||||
|
CURRENT LIABILITIES:
|
||||||||
|
Current maturities of long-term debts
|
$
|
164
|
$
|
2,227
|
||||
|
Accounts payable
|
18,531
|
12,986
|
||||||
|
Accrued expenses and other current liabilities
|
18,309
|
17,296
|
||||||
|
Current maturities of operating lease liabilities
|
1,459
|
1,474
|
||||||
|
Total current liabilities
|
38,463
|
33,983
|
||||||
|
NON-CURRENT LIABILITIES:
|
||||||||
|
Long-term debts, net
|
11,018
|
9,485
|
||||||
|
Operating lease liabilities
|
4,032
|
4,448
|
||||||
|
Liability in respect of employee rights upon retirement
|
853
|
770
|
||||||
|
Deferred tax liabilities
|
3,286
|
1,652
|
||||||
|
Total non-current liabilities
|
19,189
|
16,355
|
||||||
|
COMMITMENTS AND CONTINGENCIES (NOTE 7)
|
-
|
-
|
||||||
|
Total liabilities
|
57,652
|
50,338
|
||||||
|
SHAREHOLDERS’ EQUITY:
|
||||||||
|
Ordinary shares of NIS 0 par value
Authorized: 19,000,000 shares at June 30, 2026, and at December 31, 2025
Issued:13,272,610 shares at June 30, 2026, and 13,257,610 shares at December
31, 2025
Outstanding: 12,998,137 shares at June 30, 2026, and 12,983,137 shares at
December 31, 2025
|
-
|
-
|
||||||
|
Additional paid-in capital
|
137,567
|
136,578
|
||||||
|
Treasury stock at cost
|
(2,088
|
)
|
(2,088
|
)
|
||||
|
Accumulated other comprehensive income
|
727
|
643
|
||||||
|
Retained earnings
|
52,729
|
41,258
|
||||||
|
Total shareholders' equity
|
188,935
|
176,391
|
||||||
|
Total liabilities and shareholders' equity
|
$
|
246,587
|
$
|
226,729
|
||||
6
TAT TECHNOLOGIES LTD.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME
U.S dollars in thousands
|
Three Months Ended
June 30,
|
Six Months Ended
June 30,
|
|||||||||||||||
|
2026
|
2025
|
2026
|
2025
|
|||||||||||||
|
Revenues:
|
||||||||||||||||
|
Products
|
$
|
15,329
|
$
|
12,463
|
$
|
29,235
|
$
|
25,187
|
||||||||
|
Services
|
37,609
|
30,641
|
64,850
|
60,059
|
||||||||||||
|
52,938
|
43,104
|
94,085
|
85,246
|
|||||||||||||
|
Costs:
|
||||||||||||||||
|
Products
|
10,775
|
9,112
|
20,874
|
17,443
|
||||||||||||
|
Services
|
28,843
|
23,167
|
49,860
|
47,024
|
||||||||||||
|
39,618
|
32,279
|
70,734
|
64,467
|
|||||||||||||
|
Gross profit
|
13,320
|
10,825
|
23,351
|
20,779
|
||||||||||||
|
Operating expenses:
|
||||||||||||||||
|
Research and development, net
|
535
|
240
|
1,106
|
564
|
||||||||||||
|
Selling and marketing
|
2,530
|
2,185
|
4,712
|
4,113
|
||||||||||||
|
General and administrative
|
4,632
|
3,965
|
8,925
|
7,497
|
||||||||||||
|
7,697
|
6,390
|
14,743
|
12,174
|
|||||||||||||
|
Operating income
|
5,623
|
4,435
|
8,608
|
8,605
|
||||||||||||
|
Gain on sale of equity investment
|
4,324
|
-
|
4,324
|
-
|
||||||||||||
|
Interest expenses
|
(182
|
)
|
(324
|
)
|
(330
|
)
|
(659
|
)
|
||||||||
|
Other financial expenses, net
|
(368
|
)
|
(776
|
)
|
(181
|
)
|
(499
|
)
|
||||||||
|
Income before taxes on income
|
9,397
|
3,335
|
12,421
|
7,447
|
||||||||||||
|
Provision for income taxes
|
1,911
|
211
|
2,056
|
803
|
||||||||||||
|
Income before share of equity investment
|
7,486
|
3,124
|
10,365
|
6,644
|
||||||||||||
|
Share in profits of equity investment of affiliated companies
|
585
|
318
|
1,106
|
611
|
||||||||||||
|
Net income
|
$
|
8,071
|
$
|
3,442
|
$
|
11,471
|
$
|
7,255
|
||||||||
7
TAT TECHNOLOGIES LTD.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME
U.S dollars in thousands, except share and per share data
|
Three Months Ended
June 30,
|
Six Months Ended
June 30,
|
|||||||||||||||
|
2026
|
2025
|
2026
|
2025
|
|||||||||||||
|
Earnings per share
|
||||||||||||||||
|
Basic
|
$
|
0.62
|
$
|
0.30
|
$
|
0.88
|
$
|
0.65
|
||||||||
|
Diluted
|
$
|
0.61
|
$
|
0.30
|
$
|
0.87
|
$
|
0.64
|
||||||||
|
Weighted average number of shares outstanding
|
||||||||||||||||
|
Basic
|
12,987,471
|
11,447,986
|
12,985,316
|
11,196,992
|
||||||||||||
|
Diluted
|
13,131,610
|
11,666,309
|
13,164,168
|
11,409,488
|
||||||||||||
8
TAT TECHNOLOGIES LTD.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
U.S dollars in thousands
|
Three Months Ended
June 30,
|
Six Months Ended
June 30,
|
|||||||||||||||
|
2026
|
2025
|
2026
|
2025
|
|||||||||||||
|
Net income
|
$
|
8,071
|
$
|
3,442
|
$
|
11,471
|
$
|
7,255
|
||||||||
|
Other comprehensive income (loss),
net:
|
||||||||||||||||
|
Change in foreign currency translation adjustments
|
(100
|
)
|
148
|
91
|
676
|
|||||||||||
|
Net unrealized losses from derivatives
|
(7
|
)
|
-
|
(7
|
)
|
-
|
||||||||||
|
Total comprehensive income
|
$
|
7,964
|
$
|
3,590
|
$
|
11,555
|
$
|
7,931
|
||||||||
9
TAT TECHNOLOGIES LTD.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY
U.S dollars in thousands, except share data
|
Share capital
|
Accumulated
|
|||||||||||||||||||||||||||
|
Number of shares issued
|
Amount
|
Additional paid-in capital
|
other comprehensive income
|
Treasury shares
|
Retained earnings
|
Total equity
|
||||||||||||||||||||||
|
BALANCE AT MARCH 31, 2025
|
11,214,831
|
$
|
-
|
$
|
89,919
|
$
|
452
|
$
|
(2,088
|
)
|
$
|
28,249
|
$
|
116,532
|
||||||||||||||
|
CHANGES DURING THE THREE MONTHS ENDED JUNE 30, 2025:
|
||||||||||||||||||||||||||||
|
Comprehensive income
|
-
|
-
|
-
|
148
|
-
|
3,442
|
3,590
|
|||||||||||||||||||||
|
Exercise of stock option
|
79,633
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||
|
Issuance of common shares on public offering, net of issuance costs of $2,769
|
1,625,000
|
-
|
39,415
|
-
|
-
|
-
|
39,415
|
|||||||||||||||||||||
|
Exercise of the underwriters' option on public offering, net of issuance costs of $413
|
242,298
|
-
|
5,953
|
-
|
-
|
-
|
5,953
|
|||||||||||||||||||||
|
Share based compensation
|
-
|
-
|
291
|
-
|
-
|
-
|
291
|
|||||||||||||||||||||
|
BALANCE AT JUNE 30,
2025
|
13,161,762
|
$
|
-
|
$
|
135,578
|
$
|
600
|
$
|
(2,088
|
)
|
$
|
31,691
|
$
|
165,781
|
||||||||||||||
|
BALANCE AT MARCH 31, 2026
|
13,257,610
|
$
|
-
|
$
|
137,071
|
$
|
834
|
$
|
(2,088
|
)
|
$
|
44,658
|
$
|
180,475
|
||||||||||||||
|
CHANGES DURING THE THREE MONTHS ENDED JUNE 30, 2026:
|
||||||||||||||||||||||||||||
|
Comprehensive income
|
-
|
-
|
-
|
(107
|
)
|
-
|
8,071
|
7,964
|
||||||||||||||||||||
|
Exercise of stock option
|
15,000
|
-
|
136
|
-
|
-
|
-
|
136
|
|||||||||||||||||||||
|
Share based compensation
|
-
|
-
|
360
|
-
|
-
|
-
|
360
|
|||||||||||||||||||||
|
BALANCE AT JUNE 30,
2026
|
13,272,610
|
$
|
-
|
$
|
137,567
|
$
|
727
|
$
|
(2,088
|
)
|
$
|
52,729
|
$
|
188,935
|
||||||||||||||
10
TAT TECHNOLOGIES LTD.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY
U.S dollars in thousands, except share data
|
Share capital
|
Accumulated
|
|||||||||||||||||||||||||||
|
Number of shares issued
|
Amount
|
Additional paid-in capital
|
other comprehensive income (loss)
|
Treasury shares
|
Retained earnings
|
Total equity
|
||||||||||||||||||||||
|
BALANCE AT DECEMBER 31, 2024
|
11,214,831
|
$
|
-
|
$
|
89,697
|
$
|
(76
|
)
|
$
|
(2,088
|
)
|
$
|
24,436
|
$
|
111,969
|
|||||||||||||
|
CHANGES DURING THE SIX MONTHS ENDED JUNE 30, 2025:
|
||||||||||||||||||||||||||||
|
Comprehensive income
|
-
|
-
|
-
|
676
|
-
|
7,255
|
7,931
|
|||||||||||||||||||||
|
Exercise of option
|
79,633
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||
|
Issuance of common shares on public offering, net of issuance costs of $2,769
|
1,625,000
|
-
|
39,415
|
-
|
-
|
-
|
39,415
|
|||||||||||||||||||||
|
Exercise of the underwriters' option on public offering, net of issuance costs of $413
|
242,298
|
-
|
5,953
|
-
|
-
|
-
|
5,953
|
|||||||||||||||||||||
|
Share based compensation
|
-
|
-
|
513
|
-
|
-
|
-
|
513
|
|||||||||||||||||||||
|
BALANCE AT JUNE 30,
2025
|
13,161,762
|
$
|
-
|
$
|
135,578
|
$
|
600
|
$
|
(2,088
|
)
|
$
|
31,691
|
$
|
165,781
|
||||||||||||||
|
BALANCE AT DECEMBER 31, 2025
|
13,257,610
|
$
|
-
|
$
|
136,578
|
$
|
643
|
$
|
(2,088
|
)
|
$
|
41,258
|
$
|
176,391
|
||||||||||||||
|
CHANGES DURING THE SIX MONTHS ENDED JUNE 30, 2026:
|
||||||||||||||||||||||||||||
|
Comprehensive income
|
-
|
-
|
-
|
84
|
-
|
11,471
|
11,555
|
|||||||||||||||||||||
|
Exercise of option
|
15,000
|
-
|
136
|
-
|
-
|
-
|
136
|
|||||||||||||||||||||
|
Share based compensation
|
-
|
-
|
853
|
-
|
-
|
-
|
853
|
|||||||||||||||||||||
|
BALANCE AT JUNE 30, 2026
|
13,272,610
|
$
|
-
|
$
|
137,567
|
$
|
727
|
$
|
(2,088
|
)
|
$
|
52,729
|
$
|
188,935
|
||||||||||||||
11
TAT TECHNOLOGIES LTD.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
U.S. dollars in thousands
|
Three Months
Ended
June 30,
|
Six Months Ended
June 30,
|
|||||||||||||||
|
2026
|
2025
|
2026
|
2025
|
|||||||||||||
|
CASH FLOWS FROM OPERATING ACTIVITIES:
|
||||||||||||||||
|
Net income
|
$
|
8,071
|
$
|
3,442
|
$
|
11,471
|
$
|
7,255
|
||||||||
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
||||||||||||||||
|
Depreciation and amortization
|
1,391
|
1,208
|
2,704
|
2,513
|
||||||||||||
|
Non-cash financial expenses
|
21
|
600
|
352
|
508
|
||||||||||||
|
Gain on sale of equity investment (Note 4)
|
(4,324
|
)
|
-
|
(4,324
|
)
|
-
|
||||||||||
|
Change in allowance for credit losses
|
(14
|
)
|
75
|
55
|
25
|
|||||||||||
|
Share in profits of equity investment of affiliated companies
|
(585
|
)
|
(318
|
)
|
(1,106
|
)
|
(611
|
)
|
||||||||
|
Share based compensation
|
360
|
291
|
853
|
513
|
||||||||||||
|
Deferred income taxes, net
|
1,615
|
63
|
1,700
|
582
|
||||||||||||
|
Changes in operating assets and liabilities:
|
||||||||||||||||
|
Decrease (increase) in trade accounts receivable
|
(8,342
|
)
|
882
|
(5,448
|
)
|
(2,594
|
)
|
|||||||||
|
Increase in inventory
|
(3,453
|
)
|
(3,434
|
)
|
(9,883
|
)
|
(7,295
|
)
|
||||||||
|
Decrease (increase) in prepaid expenses and other current assets
|
1,445
|
1,697
|
(812
|
)
|
1,183
|
|||||||||||
|
Increase in trade accounts payable
|
2,403
|
2,972
|
4,874
|
3,406
|
||||||||||||
|
Increase (decrease) in accrued expenses and other current liabilities
|
850
|
(529
|
)
|
952
|
(3,571
|
)
|
||||||||||
|
Net cash provided by (used in) operating activities
|
(562
|
)
|
6,949
|
1,388
|
1,914
|
|||||||||||
|
CASH FLOWS FROM INVESTING ACTIVITIES:
|
||||||||||||||||
|
Proceeds from sale of equity investment
|
4,493
|
-
|
4,493
|
-
|
||||||||||||
|
Purchase of property and equipment
|
(1,139
|
)
|
(3,305
|
)
|
(2,559
|
)
|
(6,167
|
)
|
||||||||
|
Net cash provided by (used in) investing activities
|
3,354
|
(3,305
|
)
|
1,934
|
(6,167
|
)
|
||||||||||
|
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||||||||||||
|
Repayment of short-term debts
|
-
|
(10,719
|
)
|
-
|
(4,350
|
)
|
||||||||||
|
Repayments of long-term debts
|
(10,721
|
)
|
(516
|
)
|
(11,272
|
)
|
(1,087
|
)
|
||||||||
|
Proceeds from issuance of ordinary shares and exercise of the underwriters' option
|
-
|
48,550
|
-
|
48,550
|
||||||||||||
|
Issuance costs of ordinary shares and exercise of the underwriters' option
|
-
|
(2,820
|
)
|
-
|
(2,820
|
)
|
||||||||||
|
Proceeds from long term debt, net
|
10,877
|
-
|
10,877
|
-
|
||||||||||||
|
Proceeds from exercise of options
|
136
|
-
|
136
|
-
|
||||||||||||
|
Net cash provided by (used in) financing activities
|
292
|
34,495
|
(259
|
)
|
40,293
|
|||||||||||
|
Net increase in cash and cash equivalents and restricted cash
|
3,084
|
38,139
|
3,063
|
36,040
|
||||||||||||
|
Cash and cash equivalents and restricted cash at beginning of period
|
51,545
|
5,335
|
51,566
|
7,434
|
||||||||||||
|
Cash and cash equivalents and restricted cash at the end of period
|
$
|
54,629
|
$
|
43,474
|
$
|
54,629
|
$
|
43,474
|
||||||||
|
Supplementary information on investing and financing activities not involving cash flows:
|
||||||||||||||||
|
Additions of operating lease right-of-use assets and operating lease liabilities
|
$
|
217
|
$
|
1,688
|
$
|
299
|
$
|
1,835
|
||||||||
|
Reclassification between inventory and property, plant and equipment
|
-
|
-
|
-
|
579
|
||||||||||||
|
Unpaid issuance costs on long term debt and issuance of shares
|
152
|
362
|
152
|
362
|
||||||||||||
|
Unpaid addition to property and equipment and intangible assets
|
1,140
|
951
|
1,140
|
951
|
||||||||||||
|
Supplemental disclosure of cash flow information:
|
||||||||||||||||
|
Interest paid
|
154
|
249
|
303
|
516
|
||||||||||||
|
Taxes paid
|
79
|
176
|
192
|
195
|
||||||||||||
12
RECONCILIATION
OF NET INCOME TO ADJUSTED EBITDA (NON-GAAP) (UNAUDITED)
13
TAT TECHNOLOGIES LTD.
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (NON-GAAP) (UNAUDITED)
U.S dollars in thousands
|
Three months ended
|
Six months ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2026
|
2025
|
2026
|
2025
|
|||||||||||||
|
Net income
|
$
|
8,071
|
$
|
3,442
|
$
|
11,471
|
$
|
7,255
|
||||||||
|
Adjustments:
|
||||||||||||||||
|
Share in profits of equity investment of affiliated companies
|
(585
|
)
|
(318
|
)
|
(1,106
|
)
|
(611
|
)
|
||||||||
|
Provision for income taxes
|
1,911
|
211
|
2,056
|
803
|
||||||||||||
|
Interest expenses
|
182
|
324
|
330
|
659
|
||||||||||||
|
Gain on sale of equity investment
|
(4,324
|
)
|
-
|
(4,324
|
)
|
-
|
||||||||||
|
Other financial expenses, net
|
368
|
776
|
181
|
499
|
||||||||||||
|
Depreciation,
amortization and others
|
1,445
|
1,328
|
2,820
|
2,691
|
||||||||||||
|
Share based compensation
|
360
|
291
|
853
|
513
|
||||||||||||
|
Adjusted EBITDA
|
$
|
7,428
|
$
|
6,054
|
$
|
12,281
|
$
|
11,809
|
||||||||
14
TAT TECHNOLOGIES LTD.
ADJUSTED NET INCOME ATTRIBUTABLE TO TAT TECHNOLOGIES LTD. (UNAUDITED)
U.S. dollars in thousands
|
Three months ended
|
Six months ended
|
|||||||||||||||
|
June 30,
|
June 30,
|
|||||||||||||||
|
2026
|
2025
|
2026
|
2025
|
|||||||||||||
|
Net income
|
$
|
8,071
|
$
|
3,442
|
$
|
11,471
|
$
|
7,255
|
||||||||
|
Adjustments:
|
||||||||||||||||
|
Gain on sale of equity investment
|
(4,324
|
)
|
-
|
(4,324
|
)
|
-
|
||||||||||
|
Income tax impact
|
908
|
-
|
908
|
-
|
||||||||||||
|
Adjusted net income
|
$
|
4,655
|
$
|
3,442
|
$
|
8,055
|
$
|
7,255
|
||||||||
|
Earnings per share
|
||||||||||||||||
|
Basic
|
$
|
0.62
|
$
|
0.30
|
$
|
0.88
|
$
|
0.65
|
||||||||
|
Diluted
|
$
|
0.61
|
$
|
0.30
|
$
|
0.87
|
$
|
0.64
|
||||||||
|
Adjusted earnings per share
|
||||||||||||||||
|
Basic
|
$
|
0.36
|
$
|
0.30
|
$
|
0.62
|
$
|
0.65
|
||||||||
|
Diluted
|
$
|
0.35
|
$
|
0.30
|
$
|
0.61
|
$
|
0.64
|
||||||||
15
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Benchmark Reiterates Buy Rating on TAT Technologies (TATT) on Double-Digit YoY Growth Visibility
- Miami Kosher Supermarket Celebrates More Than a Decade of Serving Miami and South Florida’s Kosher Community With Quality Kosher Food and Groceries
- Postal Service Issues Commemorative Stamp Celebrating Eight-Day Jewish Holiday
Create E-mail Alert Related Categories
SEC FilingsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
