Astronics Q3 2023 Earnings Report
Key Takeaways
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.
Sales grew 24% to $162.9 million in the quarter.
Bookings totaled $176.0 million in the quarter.
Record backlog of $604.3 million, reflecting continued strong demand.
Adjusted EBITDA was $8.8 million, or 5.4% of sales, a 500 basis point improvement over the prior-year period.
Astronics
Astronics
Astronics Revenue by Segment
Forward Guidance
The Company expects fourth quarter revenue to be in the range of $185 million to $195 million, and 2023 revenue to be approximately $680 million to $690 million.
Positive Outlook
- Fourth quarter revenue expected to be $185 million to $195 million.
- 2023 revenue expected to be $680 million to $690 million.
- Midpoint of revenue guidance would be a 28% increase over 2022 sales.
- Expect fourth quarter revenue at pre-pandemic levels.
- Expect strong growth in 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income