Elmet Group Q3 revenue jumps 56% on aerospace demand
ELMT•Elmet Group’s fiscal third-quarter revenue rose 56% to $79.56 million, while adjusted EBITDA more than doubled and gross margin expanded to 31.3%. The company reported a record $347 million backlog and announced a $450 million DoW investment for tungsten supply.
1. Quarterly results
Elmet Group said fiscal third-quarter revenue rose 56% to $79.56 million, driven by continued demand acceleration in Aerospace, Defense & Government markets and the positive impact of increased raw material pricing. Adjusted EBITDA more than doubled as gross margin expanded to 31.3%; net income was $8.29 million.
2. Backlog and outlook
The company’s firm order backlog reached a record $347 million at quarter-end, which it said provides increased visibility into future performance. Elmet sees continued strong demand in Aerospace, Defense & Government markets and expects to benefit from industry realignment and expanded domestic tungsten capabilities. It also announced a $450 million DoW investment for tungsten supply.
