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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.
Revenue by Segment
Revenue by Geographic Location
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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