Financial Performance - Net sales for Q4 2024 were 121.3million,adecreaseof18.416.0 million, or 0.76perdilutedshare,comparedto2.2 million, or 0.11perdilutedshare,intheprior−yearperiod,reflectinga25.5 million gain from a lawsuit settlement[9]. - Adjusted EBITDA for Q4 2024 was 9.2million,representingamarginof7.617.7 million and 11.9% in the prior-year period[10]. - Free cash flow for Q4 2024 was 35.6million,significantlyupfrom19.9 million in the prior year, largely due to the settlement agreement[12]. - For the twelve months ended December 31, 2024, net sales were 581.6million,adecreaseof1.4588.4 million in 2023[41]. - The company reported a net income of 25.968millionforthetwelvemonthsendedDecember31,2024,comparedto7.844 million in 2023, representing a significant increase[41]. - EBITDA for the twelve months ended December 31, 2024, was not explicitly stated but can be inferred from the net income and adjustments, indicating improved operational performance[36]. - Net income for Q4 2024 was 15,971,000,asignificantincreasefrom2,227,000 in Q4 2023, representing a growth of 619%[45]. - EBITDA for Q4 2024 reached 32,507,000,comparedto14,936,000 in Q4 2023, marking an increase of 117%[45]. - Net sales for the twelve months ended December 31, 2024, were 581,604,000,slightlydownfrom588,425,000 in 2023, a decrease of 1.4%[45]. - Adjusted EBITDA margin for Q4 2024 was 7.6%, down from 11.9% in Q4 2023, indicating a decline of 36%[45]. - Free cash flow for Q4 2024 was 35,614,000,anincreaseof7919,883,000 in Q4 2023[49]. - Interest expense for the twelve months ended December 31, 2024, was 10,989,000,aslightdecreasefrom11,092,000 in 2023[45]. Market Performance - Sales to the commercial vehicle market were 47.2millioninQ42024,adecreaseof10.57.7 million, driven by reduced demand and inventory de-stocking[21]. - Sales to other end markets increased by 11% year-over-year to 24.6million,attributedtogrowthinaluminumextrusionproductsandnewcustomerprojects[24].−In2024,thecompanysecuredover100 million in new business wins, a 12% increase from the previous year, indicating growth in emerging markets[4]. Financial Health - The company repaid over 31millionindebtduringQ42024,reducingnetleverageto1.3x[26].−Totalcurrentassetsdecreasedto112.944 million as of December 31, 2024, down from 134.623millionin2023,reflectingareductionincashandinventories[39].−Thecompany’stotalliabilitiesdecreasedto193.817 million as of December 31, 2024, compared to 266.683millionin2023,indicatingimprovedfinancialhealth[39].−Cashandcashequivalentsattheendoftheperiodwere206,000, down from 672,000attheendof2023,highlightingliquiditychallenges[43].−Thecompany’soperatingcashflowforthetwelvemonthsendedDecember31,2024,was89.807 million, significantly higher than 40.363millionin2023,indicatingstrongercashgeneration[43].LegalandRestructuring−Thecompanyexperiencedagainonlawsuitsettlementof25.5 million in the three months ended December 31, 2024, contributing to the increase in net income[41]. - The company reported a lawsuit settlement gain of (25,500,000)inQ42024,impactingnetincomenegatively[47].−Thecompanyincurred492,000 in Wautoma restructuring charges in Q4 2024, with no charges reported in Q4 2023[45]. Compensation and Taxation - Stock-based compensation expense for the twelve months ended December 31, 2024, was 5,186,000,upfrom4,485,000 in 2023, an increase of 15.6%[45]. - The provision for income taxes for Q4 2024 was 5,064,000,comparedtoabenefitof(432,000) in Q4 2023[45]. Operational Capabilities - The company has 23 manufacturing facilities, with 22 currently in use, supporting its diverse end markets and operational capabilities[34].
