Astronics Earnings Reports

Astronics Corporation reported a 6.8% increase in fourth-quarter sales, reaching $208.5 million, and a net loss of $2.8 million. The Aerospace segment saw a 12% increase in sales, achieving a record $188.5 million. Cash flow from operations was $26.4 million for the quarter. The company's backlog at the end of the quarter was $599 million.

Astronics Corporation reported a 25% increase in sales to $203.7 million in the third quarter of 2024, the highest quarterly level since Q1 2019. The company's adjusted EBITDA grew by 207% to $27.1 million, with Aerospace segment adjusted operating margin at 14.2%. However, the company experienced a net loss of $11.7 million, which included $7.0 million in refinancing costs, though adjusted net income was $12.2 million.

Astronics Corporation reported a 14% increase in sales to $198.1 million and improved profitability in Q2 2024. Operating income increased to $7.6 million, and net income was $1.5 million, or $0.04 per diluted share. The company's bookings reached a post-pandemic high, resulting in a record backlog of $633.4 million.

Astronics Corporation reported a strong start to 2024, with first-quarter revenue up 18% to $185.1 million. The company achieved an operating income of $1.7 million and an adjusted EBITDA of $19.1 million, alongside record bookings of $205.3 million and a record backlog of $612.5 million.

Astronics Corporation reported a 24% increase in sales to $162.9 million for the third quarter of 2023. Bookings totaled $176.0 million, and the company achieved a record backlog of $604.3 million. The company raised its 2023 revenue guidance to $680 million to $690 million.

Astronics Corporation reported a strong second quarter with sales up 35% year-over-year and 11% sequentially, driven by the recovery in the commercial aerospace industry. Bookings reached pre-pandemic levels, resulting in a record backlog. The company expects a strong second half of 2023 and an even stronger 2024.

Astronics Corporation reported a 35% increase in sales for the first quarter of 2023, reaching $156.5 million. The company's bookings totaled $157.8 million, resulting in a record backlog of $578.5 million. Despite the revenue growth, Astronics reported a net loss of $4.4 million, while adjusted EBITDA was $6.1 million. The company expects revenue to increase in the second quarter and is maintaining its full-year guidance.

Astronics Corporation reported strong fourth-quarter results with sales exceeding expectations and demonstrating recovery in the commercial aerospace market and progress in supply chain management. The company's sales for the quarter were $158.2 million, a 36% increase year-over-year, and bookings totaled $182.4 million, resulting in a book-to-bill ratio of 1.15. Despite margin pressures from inflation and supply chain issues, the company maintains a positive outlook, expecting a 20% increase in sales for 2023.

Astronics Corporation reported Q3 2022 financial results with sales of $131.4 million, an 18% increase over the prior-year period. The operating loss was $14.3 million, including $4.6 million in atypical costs. Bookings totaled $184.2 million, up 20% over the prior-year period, resulting in a book-to-bill ratio of 1.40. Backlog increased 32% from year-end 2021 to a record $547.1 million, with aerospace backlog reaching a record $464.3 million.

Astronics Corporation reported second quarter sales of $129.1 million, a 16% increase over the prior-year period. Bookings totaled $148.4 million, up 17% over the prior-year period, resulting in a book-to-bill ratio of 1.15. The company's backlog increased 19% from year-end 2021 to a record $494.4 million.

Astronics Corporation reported a 10% increase in sales for the first quarter of 2022, reaching $116.2 million. Pretax income rose to $5.0 million, a significant improvement from the prior-year loss of $11.8 million. The company's bookings totaled $175.6 million, a 46% increase over the previous year, resulting in a book-to-bill ratio of 1.51. Backlog increased by 14% from the end of 2021, reaching a record $475.1 million.

Astronics Corporation reported a 5% increase in sales for the third quarter of 2021, reaching $111.8 million. The net loss showed sequential improvement, and adjusted EBITDA was $2.8 million, a significant improvement over the prior-year period. Bookings were up 88% year-over-year, resulting in a book-to-bill ratio of 1.37, and backlog increased sequentially to $354.4 million.

Astronics Corporation reported second-quarter 2021 financial results, with sales of $111.2 million and a net loss of $8.1 million. The company's bookings for the quarter continued sequential improvement to $126.3 million, achieving a book-to-bill ratio of 1.14. The aerospace segment saw a book-to-bill ratio of 1.32 for the quarter, and backlog increased 5% sequentially to $312.7 million.

Astronics Corporation reported first quarter 2021 financial results with sales of $105.9 million and a net loss of $11.9 million. Aerospace bookings showed a 36% sequential increase, and the Test business experienced strong demand.

Astronics Corporation reported a decrease in fourth-quarter sales by 42.1% compared to the same period in 2019, with sales of $114.8 million. The company incurred a net loss of $20.0 million, which included a $14.1 million non-cash tax expense. Adjusted EBITDA was $2.9 million, or 2.5% of sales. Bookings were $116.0 million, and the backlog at the end of the year was $283.4 million.

Astronics Corporation reported a challenging third quarter with sales of $106.5 million and a net loss of $5.3 million. The company's largest market, Commercial Aerospace, remained weak, although Defense and Government markets remained strong.

Astronics Corporation reported a decrease in sales and a net loss for the second quarter of 2020, primarily due to the impact of the COVID-19 pandemic on the commercial aircraft industry. The company implemented cost controls and downsized its operations to align with reduced demand. Despite the challenges, the Test Systems segment showed strong growth. The company is focused on maintaining a cash-positive position and positive adjusted EBITDA.

Astronics Corporation reported a challenging first quarter in 2020, with sales of $157.6 million and a net loss of $67.0 million, which included impairment charges of $74.4 million due to the impact of COVID-19 on the aerospace segment. The company has taken significant actions to reduce costs and maintain cash flow, expecting to be cash positive even with a potential 30% to 35% decline in sales from 2019.

Astronics Corporation reported a net loss of $34.1 million for Q4 2019, impacted by significant restructuring and impairment charges related to its antenna business and an unfavorable legal ruling. Sales were $198.4 million, a slight decrease compared to the previous year. The company is facing challenges due to the 737 MAX situation but is optimistic about future profitability after restructuring efforts and acquisitions.