IBC Advanced Alloys Achieves Profitability with Record Shipments

IBC Advanced Alloys Corp. reported significant financial gains for the fiscal year 2024, bolstered by increased demand across its operations. The company achieved notable sales growth, witnessing a 50.9% year-over-year increase for the quarter and a 33.4% rise for the year. The Copper Alloys division set new sales records, generating $7 million in the quarter and $25.7 million for the year, illustrating a robust performance.

Operating income improved to $2.3 million for the quarter and $5.6 million for the year. The adjusted EBITDA turned positive, reaching $2.9 million and $7.4 million, reversing previous losses. Net income for the quarter stood at $559,000, with an annual net income of $1.7 million, marking a financial turnaround for the company.

Despite discontinuing its Massachusetts-based beryllium-aluminum operations due to market conditions, IBC increased its working capital by $5.6 million. The company aims to expand its Copper Alloys business, leveraging newfound financial stability to explore growth opportunities.