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Allient Expects Annualized Revenue Run Rate Level Below $500M Over The Next Several Quarters

Author: Benzinga Newsdesk | August 07, 2024 05:25pm

"While the full year results will exceed the projected third and fourth quarter annual run rate, we do expect customer inventory adjustments will be substantially complete in early 2025 with a return to normal run rates in mid-2025."

The expected annual savings from the initial manufacturing consolidation and streamlining efforts implemented in the second quarter are approximately $5 million and will begin to be realized in the second half of 2024. 

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