Firan Technology Group (FTG) shed 8% after missing both top and bottom-line estimates in Q3 - with revenue growth decelerating to ~10%…
… driven mainly by the transition of some of its operations from Toronto to China - a shift that weighed on margins and is likely to impact Q4 numbers.
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This included the transition of the C919 assembly product from our Toronto facility to our Tangent facility, which slowed planned Q3 deliveries and could do so again in Q4, but the C919 demand remains strong and is even increasing.
Brad Bourne (CEO) - FTG Q3’25 call
Up over 40% since we talked about it in January, what appears to be a generational defense setup has driven FTG’s multiple to a premium - they’ll need to execute through these near-term challenges to keep it.
