By Elias Schisgall
Shares of Tat Technologies rose after the company reported first-quarter profit and revenue ahead of Wall Street expectations and said it expects to return to revenue growth this year.
Shares rose 14% to $37.26 in premarket trading Wednesday. The stock closed Tuesday up 0.8% at $32.69, down 27% this year.
The aerospace and ground defense products and services provider's first-quarter profit fell to $3.4 million, or 26 cents a share, from $3.81 million, or 34 cents a share, a year earlier. Analysts polled by FactSet were expecting a profit of 19 cents a share.
Revenue fell to $41.1 million from $42.1 million. Analysts were expecting revenue of $40.2 million.
The revenue decline was driven by supply chain disruptions from some original equipment manufacturer suppliers, delaying deliveries, Chief Executive Officer Igal Zamir said.
The company expects those disruptions to be resolved in the coming months, he said. Once they are resolved, Tat expects to return to revenue growth in the current second quarter and the second half of the year.
Tat ended the quarter with a backlog of about $580 million, Zamir said. "Demand for our services has never been stronger, and the value of our long-term agreements and backlog reached an all-time high," he said.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
May 20, 2026 08:51 ET (12:51 GMT)
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