Astronics Q1 2024 Earnings Report
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
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