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Astronics Q1 2025 Earnings Report
Astronics Corporation reported a strong start to 2025 with revenue exceeding expectations, driven by record aerospace sales and improved profitability.
Key Takeaways
Astronics Corporation announced robust first quarter 2025 results, with revenue increasing 11.3% to $205.9 million, primarily due to record aerospace sales. Net income was $9.5 million, or $0.26 per diluted share, and adjusted EBITDA reached $30.7 million, or 15% of sales. The company achieved record bookings of $279.7 million, leading to a record backlog of $673.0 million.
First quarter sales increased 11.3% to $205.9 million, surpassing the high end of their projected range.
Net income for the quarter was $9.5 million, or $0.26 per diluted share, a significant improvement from a net loss in the prior year.
Aerospace segment sales grew 17% to a record $191.4 million, driven by strong demand in commercial transport and military aircraft markets.
Record bookings of $279.7 million resulted in a book-to-bill ratio of 1.36x, contributing to a record backlog of $673.0 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
Astronics is maintaining its 2025 revenue guidance in the range of $820 million to $860 million, with a midpoint representing a 6% increase over 2024 sales. The company is well-positioned for a strong year despite macroeconomic risks.
Positive Outlook
- Maintaining 2025 revenue guidance of $820 million to $860 million.
- Expectation of continued improvement in operating margins.
- Solid demand and record backlog supporting a strong year.
- Healthy balance sheet providing financial stability.
- Anticipated production start for the U.S. Army radio test program in Q4 2025.
Challenges Ahead
- Acknowledgement of the threat of tariffs and other macroeconomic risks.
- Potential incremental impact of tariffs on annual costs of materials estimated between $10 million to $20 million before mitigation.
- Uncertainty regarding the timing and outcome of legal appeals in France and the UK.
- Ongoing wide-ranging review of the Test Systems business due to low bookings and complex long-term contract issues.
- Potential rationalization efforts in the Aerospace business to optimize performance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income