Thursday, March 06, 2025
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Year of Transformation. Management highlighted its first full year of transformation, as the Company upgraded leadership positions and added to its Stamped Products, Electrical, and Medical teams. They also secured new business to offset rationalized business and create a path to y-o-y growth, increased gross margins, and decreased leverage to name a few actions. Lastly, the underperforming plants are expected to generate positive EBITDA in the new year compared to a negative $11.5 million last year.
New Business Wins. The Company had $73 million of new business wins for the fiscal year, surpassing the previous year of $63 million. As for 2025, the Company has $13 million in new wins year-to-date and remains on pace towards its guidance of $60-$70 million in new wins for the year. These wins are expected to soon ramp into Company sales as well, with roughly $21 million of new business expected to launch in Q1 2025 across multiple plants and countries.
Get the Full Report
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.