BAY SHORE, N.Y. - Air Industries Group (NYSE American: AIRI), a manufacturer of precision assemblies for aerospace and defense, has secured $8.2 million worth of orders for components used in UH-60 Black Hawk and H-92 Super Hawk helicopters. The company announced that the orders came from two customers, marking a significant addition to its portfolio, especially with the inclusion of the H-92 Super Hawk.
Lou Melluzzo, CEO of Air Industries, stated that these contracts are a testament to the increasing demand for critical military aircraft parts and the company's key role in supporting essential military aircraft programs. Air Industries has a long-standing history of supplying flight-critical assemblies for the Black Hawk helicopter, a relationship that spans over four decades.
The UH-60 Black Hawk is a cornerstone of the U.S. Army's aviation fleet, performing transport, troop movement, medical evacuation, and cargo lift operations. The H-92 Super Hawk, a military variant of the commercial S-92 helicopter, is employed by Canada for its Maritime Helicopter Program.
Deliveries of the components are slated to begin in 2025. Air Industries' involvement with the Black Hawk includes providing primary flight control assemblies and main transmission beams, among other critical components. The company's products are known for their high quality and reliability, crucial for the safety of military operations.
Air Industries Group's role in the aerospace and defense industry encompasses the manufacture of landing gear, flight controls, engine mounts, and components for aircraft jet engines and ground turbines. The company's products are integral to mission-critical operations, ensuring the safety of military personnel and civilians alike.
The information reported is based on a press release statement from Air Industries Group. The company's forward-looking statements regarding market trends, future revenues, and other projections are subject to risks and uncertainties, including economic conditions and government budgets, which could cause actual results to differ materially from those anticipated.
InvestingPro Insights
Air Industries Group (NYSE American: AIRI), with its recent $8.2 million order for helicopter components, has been making notable strides in the aerospace and defense industry. As investors consider the company's potential, here are key insights from InvestingPro:
An important metric for investors is the company's valuation in terms of free cash flow yield. According to InvestingPro data, Air Industries' valuation implies a strong free cash flow yield, indicating that the company is generating a healthy amount of cash relative to its share price. This could be a positive sign for investors looking for companies with the potential to generate returns.
When it comes to stock performance, Air Industries has experienced a 114.38% price total return over the last six months, along with a 84.81% return over the last year, reflecting strong recent momentum in the stock price. However, it's important to note that the stock generally trades with high price volatility, which is a critical consideration for risk-averse investors. This volatility is also reflected in the -7.11% one-week price total return, highlighting the stock's short-term fluctuations.
Despite the recent positive performance, the company has not been profitable over the last twelve months, which could be a concern for those looking for current profitability in their investments. Air Industries also does not pay a dividend, which may influence the decision-making of income-focused investors.
For a more in-depth analysis, there are 11 additional InvestingPro Tips available for AIRI. These tips can offer further insights into the company's financial health and stock performance. To explore these tips and enhance your investment strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/AIRI.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.