Taylor Devices Reports 5.8% Q3 Sales Rise and Record $32.7M Nine-Month Revenue
Taylor Devices posted third-quarter sales of $11.17 million, up 5.8% year-over-year, and net earnings of $2.50 million, or $0.79 per share, compared with $2.00 million last year. Nine-month sales reached a record $32.70 million, while firm order backlog fell to $20.8 million from $27.1 million.
1. Financial Performance
Taylor Devices recorded third-quarter sales of $11.17 million, up from $10.56 million in the prior year, and net earnings of $2.50 million, or $0.79 per share, compared with $2.00 million, or $0.64 per share. Nine-month sales hit a record $32.70 million, and nine-month net earnings rose to $6.70 million, or $2.12 per share.
2. Backlog and Market Headwinds
The company’s firm order backlog declined to $20.8 million from $27.1 million at the start of the fiscal year, reflecting a six-week U.S. government shutdown that delayed contract awards and persistent headwinds in structural and industrial markets.
3. First TDMF Order
Taylor Devices secured its inaugural Taylor Damped Moment Frame™ order, supplying 40 fluid viscous dampers for a medical building on the U.S. West Coast, marking the first deployment of its seismic protection technology in this application.
4. Outlook and Growth Initiatives
Management plans to focus on growth in domestic aerospace and defense as well as global structural construction and industrial markets, supported by continued investments in research and development, technology and facility expansions to drive future profitable growth.