Update: Magellan Aerospace Narrows Q4 Loss, Revenue Grows; Up 1.7%-March 2024-www.financetom.com

Update: Magellan Aerospace Narrows Q4 Loss, Revenue Grows; Up 1.7%

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Update: Magellan Aerospace Narrows Q4 Loss, Revenue Grows; Up 1.7%

Mar 12, 2024 11:17 AM

01:56 PM EDT, 03/12/2024 (MT Newswires) -- Magellan Aerospace Corp. ( MALJF ) overnight Monday said that it narrowed its fourth-quarter net loss to $266,000, or $0.00 per share, from a loss of $20.8 million, or $0.36 per share, a year earlier.

Revenue for the quarter ended Dec. 31, 2023, was $223.6 million, up from $193.1 million a year earlier.

Adjusted EBITDA for Q4 was $16.4 million, as compared with an adjusted EBITDA loss of $4.8 million.

After Dec. 31, 2023, the company's board had declared a quarterly cash dividend on its common shares of $0.025 per common share. The dividend will be paid on March 28 to shareholders of record at the close of business on March 15.

The company's shares rose 1.7% on last look on Tuesday.

Price: 8.20, Change: +0.14, Percent Change: +1.74

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