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Mar 30, 2024
Astronics Q1 2024 Earnings Report
Astronics reported strong first quarter results with revenue up 18% and record backlog driven by aerospace demand.
Key Takeaways
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.
Sales grew 18% to $185.1 million in the first quarter.
Operating income was $1.7 million, representing 0.9% of sales.
Adjusted EBITDA increased to $19.1 million, or 10.3% of sales.
Bookings reached $205.3 million, resulting in a record backlog of $612.5 million.
Astronics
Astronics
Astronics Revenue by Segment
Astronics Revenue by Geographic Location
Revenue by Segment
Aerospace Revenue
CapyFin.comTest Systems Revenue
CapyFin.comRevenue by Geographic Location
Commercial Transport Revenue
CapyFin.comMilitary Aircraft Revenue
CapyFin.comGeneral Aviation Revenue
CapyFin.comOther Revenue
CapyFin.comGovernment & Defense Revenue
CapyFin.com Forward Guidance
The Company expects second quarter revenue to be in the range of $185 million to $195 million and is maintaining its 2024 revenue guidance of approximately $760 million to $795 million.
Positive Outlook
- Supply chain is continuing to improve.
- Team is getting more efficient.
- Continued strong demand and customer enthusiasm will drive growth in coming quarters.
- Expect to drive cash generation and improved profitability.
- 2024 will be a year of strong growth and margin improvement.
Challenges Ahead
- Risk related to aircraft production rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income