Techprecision (NASDAQ:TPCS) Issues Earnings Results

Techprecision (NASDAQ:TPCS) announced its quarterly earnings data on Thursday. The industrial products company reported ($0.02) EPS for the quarter, FiscalAI reports. The company had revenue of $9.10 million for the quarter. Techprecision had a negative net margin of 5.26% and a negative return on equity of 20.19%.

Here are the key takeaways from Techprecision’s conference call:

• First-quarter revenue rose 23% to $9.1 million, while gross profit increased 36% to $1.4 million. Ranor revenue grew 27% and Stadco revenue increased 22%, with Stadco gross profit improving 65% year over year.
• TechPrecision reported a $52 million funded backlog, plus approximately $22 million in unfunded purchase orders, which management expects to deliver over the next one to three fiscal years with gross-margin expansion.
• Defense-sector demand remains strong, supported by more than $24 million in grants tied to U.S. Navy submarine programs and continued new quoting opportunities from existing and prospective air-defense and submarine-defense customers.
• Cash management and deleveraging improved: operating and investing activities generated $1.9 million of cash, while total debt declined to $5.0 million from $7.0 million at the end of the prior quarter.
• Management said Stadco has reduced loss-making work to less than 50% of its business and is implementing stricter quoting, milestone reviews, and estimate-to-complete processes. However, the company still posted a $153,000 quarterly net loss and acknowledged that Stadco has more work to do before reaching profitability.

Techprecision Price Performance

TPCS traded up $1.03 during midday trading on Friday, hitting $5.88. 308,047 shares of the company’s stock traded hands, compared to its average volume of 45,857. The company has a market cap of $58.87 million, a PE ratio of -34.56 and a beta of 0.41. The stock’s fifty day simple moving average is $4.42 and its 200-day simple moving average is $4.09. Techprecision has a one year low of $2.88 and a one year high of $5.90.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Techprecision in a research note on Friday, July 31st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TPCS. NewEdge Advisors LLC lifted its stake in shares of Techprecision by 55.2% in the 1st quarter. NewEdge Advisors LLC now owns 23,658 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 8,412 shares during the last quarter. Jane Street Group LLC acquired a new position in Techprecision during the fourth quarter worth $64,000. JPMorgan Chase & Co. acquired a new position in Techprecision during the third quarter worth $73,000. Dimensional Fund Advisors LP raised its holdings in Techprecision by 29.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,831 shares of the industrial products company’s stock valued at $86,000 after buying an additional 4,071 shares in the last quarter. Finally, Diversify Advisory Services LLC bought a new position in Techprecision during the second quarter valued at about $94,000. Institutional investors and hedge funds own 15.52% of the company’s stock.

About Techprecision

TechPrecision, Inc (NASDAQ:TPCS) specializes in the design, engineering and manufacture of high-precision automated machinery and turnkey production solutions. The company’s core offerings include assembly, test and inspection equipment, servo-electric press systems and custom packaging machines tailored for industries with stringent quality and regulatory requirements. TechPrecision’s products support medical device, pharmaceutical, consumer goods and industrial applications, delivering end-to-end services from concept development and prototyping to full-scale production and after-market support.

Founded in 1987 and headquartered in Fredericksburg, Virginia, TechPrecision operates two primary manufacturing facilities: its U.S.