TerraVest Industries Inc

Latest Results (13.06.2024):

Revenue Growth

In the second quarter of fiscal 2024, TerraVest Industries Inc. reported a significant increase in revenue. Sales for the quarter ended March 31, 2024, amounted to $214,943, marking a 22% increase from the $176,858 reported in the same period the previous year. This growth is attributed to higher demand across several segments and the recent acquisitions of Highland Tank Holdings and LV Energy Services.

Net Income Surge

TerraVest Industries Inc. experienced a substantial rise in net income for the second quarter of fiscal 2024. The net income reached $25,729, up by 125% from $11,444 in the corresponding quarter of the previous year. This increase reflects the positive impact of new acquisitions and improved sales, despite higher acquisition-related costs and financing expenses.

Adjusted EBITDA Increase

The company's adjusted EBITDA for the second quarter ended March 31, 2024, stood at $43,934, representing a 36% increase from $32,222 in the same quarter of the previous year. This improvement in EBITDA is primarily due to enhanced operational efficiency and contributions from recent business acquisitions.

Cash Flow Improvement

Cash flow from operating activities for TerraVest Industries Inc. during the second quarter of fiscal 2024 was $43,166, showing a significant improvement of 125% compared to $19,164 in the prior year's quarter. The increase in cash flow is largely due to higher net income and better inventory management across the company's portfolio.

Dividend Declaration

Alongside its financial results for the second quarter of fiscal 2024, TerraVest Industries Inc. declared a quarterly dividend. This decision reflects the company's strong financial performance and confidence in its ongoing business operations and growth strategy.