Company: SIF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0000090168-25-000025
Chunk: 19

Company: SIFCO INDUSTRIES INC
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 19
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 fiscal 2024 due to gross margins improvements and lower SG& A expenses discussed above, as well as lower interest expense due to lower average debt outstanding.

Six Months Ended March 31, 2025 compared with Six Months Ended March 31, 2024

Net Sales

Net sales comparative information for the first six months of fiscal 2025 and 2024 is as follows:

  (Dollars in millions)                             Six Months Ended                                    Increase/ (Decrease)           
                                                           March 31,                                                                   
                                                                2025                2024                                               
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Aerospace components for:                                                                                                            
  Fixed wing aircraft                                              $      27.2         $      20.0      $                         7.2  
  Rotorcraft                                                     6.3                 7.3                (1.0)                          
  Commercial space                                               3.1                 5.4                (2.3)                          
  Energy components for power generation units                   1.7                 1.1                0.6                            
  Commercial product and other revenue                           1.6                 2.2                (0.6)                          
  Total                                                            $      39.9         $      36.0      $                         3.9  

Net sales for the first six months of fiscal 2025 increased $3.9 million to $39.9 million, compared with $36.0 million in the comparable period of fiscal 2024. Fixed wing sales increased $7.2 million compared with the same period last year, primarily due to higher demand across most programs. Rotorcraft sales declined $1.0 million compared with the same period last year primarily due to the timing of orders in the H60 and Osprey V22 programs. Commercial space products decreased by $2.3 million year-over-year due to delays in commercial launch programs. Net sales for the energy components for power generation units increased by $0.6 million due to growth in the steam turbine markets. Commercial products and other revenue decreased $0.6 million compared with the same period last year mostly due to the timing of orders related to munitions programs.

Commercial net sales were 48.8% of total net sales and military net sales were 51.2% of total net sales in the first six months of fiscal 2025, compared with 52.8% and 47.