Servotronics Announces Fourth-Quarter and Full-Year 2024 Financial Results
- Servotronics, Inc. Reported fourth-quarter revenues of $9.8 million, a decline of 20.8% from $12.3 million in the same quarter of 2023 due to market challenges and shipping delays.
- The company had an operating loss of million in the fourth quarter, down from an operating income of $0.5 million in the previous year.
- For the full year 2024, Servotronics achieved annual sales of $44.9 million, a 3.0% increase from $43.6 million in 2023, despite some operational challenges.
- CEO William F. Farrell, Jr. Stated that the outlook for 2025 is positive, expecting profitable growth despite the difficulties faced in 2024.
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